Financial reporting

"How are we doing?" Financial reports must provide the answer to this all-important question for every medical group. Although there are some key differences between academic practices and private group practices, good financial reports and statements of activity are essential in all situations. Examples are provided here of how financial information can be communicated to the several organizational levels that need the information, as well as how financial planning, measurement, and control are part of this communication process. Sample formats outline the important ingredients for making your group's reports more useful.