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Module I - Business of Health Care: Participation and successful end-of-course test of the HFMA Business of Health Care® online program offering participants an overview of healthcare finance, risk mitigation, evolving payment models, healthcare accounting and cost analysis, strategic finance, and managing financial resources.



Module II - Operational Excellence: CHFP aspirants must also complete HFMA's Operational Excellence exam, which includes exercises and case studies on the application of business acumen in health care.



Please note HFMA membership is a required aspect for earning and maintaining the CHFP credential.



Paid student members are eligible to register for and to take both modules of the CHFP certification program (included with membership). Student members who successfully complete the CHFP requirements (two modules) will earn their designation upon assuming Professional or Business Partner level member status.



The Big Picture Healthcare environment



- Reform/Current State of US Healthcare

- Transformation Under Reform

- Payment System Overview

- The Role of Financial Management in Health Care Organizations

- Management Roles & Hierarchy

- What Keeps CFOs Up at Night=>



Financial Accounting Concepts Accounting Principles



- Analysis of Financial Statements

- Management Reports

- Accounting Terminology

- Reports for financial analysis



Cost Analysis Principles Cost Management



- Definitions

- Traditional Cost-Finding Methods

- Setting Prices

- Profit analysis



Strategic Financial Issues Basics of Strategic Planning



- Budgeting Concepts

- Variance Analysis

- Revenue & Performance Budgeting

- Controlling Operating Results

- Benchmarking, Productivity, and Cost-Benefit/Cost-Effectiveness

- Analysis



Managing Financial Resources Financing the Healthcare System: Revenue Cycle



- Working capital management

- The Use of Metrics and Data

- Long-Term Financial Resources



Looking to the Future ACA, ACOs & Bundled Payments:

Evolving Reimbursement

The Need for Business Intelligence & Analytics

Population Health Management

Aligning Clinicians and Finance Professionals to Drive Value

Accountable Care Organizations – Payer Cancers

Premium Growth in a Shifting Environment

Denials of coverage

Limitations on profits

Health Insurance Exchanges

Payer consolidations

Unsustainable rates

Payer Differentiation

Rise of Business Process Outsourcing

Consumerism and physicians

Physician –Hospital alignment

Demand for Physician Collegiality

Emerging Ancillary Positions

Physician Burnout

Physician Independence

Physician Shortages (Leakage)

Physicians as Entrepreneurs

Reform and Physician Liability

Physician – Hospital Financial

Relationships

Hospital Consolidations

Hospital – Physician Alignment

Hospital Facing Bankruptcy

Provider- Payer Consolidations

Physician Engagement and Leadership

Integrated Care Delivery

Physicians Remaining

Independent

Accountable Care Organizations

Sustainability of Physician

Employment



Module I Concept Guide – It is recommended that you preview this guide prior to working through the online materials. For example, the pages in this guide associated with the Patient Protection and Affordable Care Act (PPACA) may be viewed before working in the first course, Healthcare Finance -- The Big Picture. This preview indicates the key concepts that will be covered and attunes you to areas of professional practice that may be less familiar. Feel free to make notes in this document. By taking the time to customize this guide, you can develop a handy reference tool as you continue your work in health care.



• Module II Concept Guide - It is recommended that candidates preview the key‐concept guide prior to working through this online course. The module is itself an examination with three (3) hours allowed for completion. This preview indicates the key business challenges that will be presented and attunes candidates to areas of professional practice that may be less familiar. The learner guide can then be used to focus additional outside reading and study on unfamiliar issues

Financial syllabus