2021 Financial Acumen Learning Collaborative Application
Hosted by the Aging and Disability Business Institute at the National Association of Area Agencies on Aging (n4a), the Financial Acumen Learning Collaborative (FALC), will provide aging and disability community-based organizations (CBOs) with the knowledge and skills necessary to build and strengthen their financial operations and agency sustainability efforts related to contracts with health care entities. Up to 15 organizations will be selected for participation in the FALC.
For the purposes of this collaborative, financial acumen is defined as the understanding of what drives agency revenues and expenses and how key financial metrics can be used in defining agency goals. Improving the financial acumen of your organization will help your agency better manage the financial components of health care contracting and enhance its financial and accounting practices. The skills and knowledge FALC participants will gain will help participating CBOs improve budget management, increase revenue and assess the financial value of potential contracting opportunities.
FALC participants will engage in a curriculum that addresses financial acumen topics and practices such as accurately costing out agency services, assessing net income from various pricing methods and levels, evaluating and managing financial risk, and calculating the return on investment to potential health care partners. This effort is intended to address such areas (and more) to support the pursuit of health care contracts.