HFMA Business of Health Care®

HFMA Business of Health Care® is a comprehensive online program that presents an overview of today’s healthcare environment and highlights the shift in healthcare service delivery and evolving payment models.

Understand how your decisions impact the delivery of quality care with HFMA’s Business of Health Care® online program. No matter your role in healthcare, this course is designed to provide essential context around the business fundamentals of pricing, cost, revenue, payment and delivery models.

Once you complete this online program, you will have the knowledge to work more effectively toward the shared goals of improving patient health and organizational sustainability. Note: 1. successful completion of HFMA’s Business of Health Care examination, Module I of CHFP, and 2. active HFMA membership, are the two required prerequisites to enroll in HFMA’s Operational Excellence program.

Learning Objectives:

After this program, you’ll be able to..

• Identify the current trends of healthcare delivery models in the US and determine the impact of healthcare reform on healthcare delivery and payment
• Determine an organization’s financial health using financial performance ratios, key financial statements, and financial analysis tools
• Describe how financial strategic planning influences budgeting, costs, and pricing for healthcare services
• Identify the components of the revenue cycle, including patient engagement, billing, and collections
• Understand new metrics for future payment models, including quality indicators and patient satisfaction scores
• Describe new models for collaboration among healthcare providers, physicians, and health plans
• Define the trend toward population health in future healthcare delivery models

CPE Information:

CPE Award Amount: 14.0

Program Level: Intermediate

Program Prerequisite: General knowledge of accounting and finance concepts, including the ability to recognize elements of financial statements, accrual and cash accounting, basic budgeting, and the management of financial resources.

Recommended Experience: At least one year of experience in healthcare industry, as well as familiarity with general accounting and financial concepts.

Advanced Preparation: None

Instructional Method: Self-Study

Delivery Method: QAS Self-Study

Field of Study & Topic in hours: 14.0 Specialized Knowledge

Content last revised: July 2023

CPE Sponsor– Healthcare Financial Management Association is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

For more information regarding refund policies, as well as any program concerns, please contact our offices at 800.252.4362 or, [email protected].

Certified Healthcare Financial Professional (CHFP) Information:

Earning the CHFP – Succeeding in today’s high-value healthcare environment requires financial professionals, clinical and nonclinical leaders, and payers and others to have a broad range of business and financial skills, including: 

• Business acumen
• Collaboration
• Financial strategy
• Understanding future trends

Successful completion of HFMA’s Business of Health Care examination, Module I of CHFP and active HFMA membership are the two required prerequisites to enroll in HFMA’s Operational Excellence program.

The CHFP is geared toward financial professionals, clinical and nonclinical leaders, and payers—all those whose jobs require a deep understanding of the new financial realities of health care. The CHFP is earned and awarded upon successful completion of two distinct phases:

Module I – HFMA Business of Health Care®: Participation and successful end-of-course assessment 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 professional or business partner all-access membership is a required aspect to hold and maintain the CHFP credential. 

Testimonial:

“One of the biggest tools that we are using is the Business of Health Care content. A lot of the online webinars and online course content that’s available through HFMA’s portal. Our clinical operations managers have found that very valuable and are really looking to understand better the financing aspects of the care that they deliver every day.” 

– Christy Pehanich, AVP Revenue Management, Professional Revenue Cycle Operations

ACE College Credit for Students:

A Student member of HFMA? The American Council on Education’s College Credit Recommendation Service (ACE CREDIT®) has evaluated and recommended college credit for the HFMA Business of Health Care^®.  

Earn college credit. Take one less class! Student members of HFMA can earn 3 college credits outside the classroom when successfully completing the HFMA Business of Health Care^® course. 

Level: Lower-Division Baccalaureate

Credits: 3

Subject: Health care finance

Healthcare Financial Management Association (HFMA) (acenet.edu) – ACE National Guide

General Program Information