Financial Modeling

Definition: Build a mathematical model designed to represent a simplified version of the performance of a business, project, or another investment. Example: Assess the business impact of various scenarios within the overall strategic plan.

Relates to: Generate Data-Driven Insight

SKILL DEVELOPMENT RESOURCES

ONLINE RESOURCES

A Guide for Building Hospital Simulation Models
Skills Mismatch: Business Acumen and Strategy Execution

BOOKS

Financial Intelligence: A Manager's Guide to Knowing What the Numbers Really Mean
Financial Management of Health Care Organizations: An Introduction to Fundamental Tools, Concepts and Applications, 4th Edition
The McGraw-Hill 36-Hour Course: Finance for Non-Financial Managers, 3rd Edition

COURSE, WORKSHOP, OR SEMINAR

Finance for Non-Financial Managers
Forecasting Models for Marketing Decisions
Introduction to Financial Accounting in Business
Managerial Accounting

TOOL RESOURCES

Tools to support this skill may include:

Balanced Scorecard: A Review of the Use of the Balanced Scorecard in Healthcare
Excel: Using Excel for Business Analysis, + Website: A Guide to Financial Modelling Fundamentals, 1st Edition
Financial Statements: How to Read a Financial Report: Wringing Vital Signs Out of the Numbers, 8th Edition
Forecasting Models: 5 Approaches to Effective Budgeting & Forecasting in Healthcare
PnL: How to Read a Profit and Loss Statement
ROI: Life Beyond Promotion: Core Metrics for Measuring Marketing's Financial Performance
Trend Analysis: Profiting from Market Trends: Simple Tools and Techniques for Mastering Trend Analysis, 1st Edition