Cost:

Free for HFMA Members
Buy HFMA Membership to Attend

Audience:

Hospitals and Other Providers
Business Partners

Advance Preparation:

None

Prerequisites:

None

Course Availability:

18 Months

Trend | Costing and Managerial Accounting
Access to real-time data allows healthcare leaders to act on the activities that need immediate attention before they escalate to more serious problems.
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How To | Costing and Managerial Accounting
A modified approach to activity-based costing can balance an organization’s desire for operational excellence with its need for repeatable, low-maintenance solutions.
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Tools & Tips | Costing and Managerial Accounting
HFMA and Strata are introducing the L7 Cost Accounting Adoption Model to help healthcare providers access accurate cost data via the use of advanced cost accounting.
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How To | Costing and Managerial Accounting
A critical access hospital’s cost of delivering care to Medicare patients is estimated using the cost accounting data that these Medicare-certified institutions submit annually to CMS via Medicare cost reports.
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How To | Costing and Managerial Accounting
There is a potential connection between the use of the idea of activities with respect to patient-level costing to activity-based costing (ABC) and its variant time-driven activity-based costing (TDABC).
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Course | Intermediate | Costing and Managerial Accounting

Cost Analysis and Management

Course | Intermediate | Costing and Managerial Accounting

Cost Analysis and Management

Description

This course explains the importance of cost accounting in helping organizations accurately predict the cost of providing services. It presents an overview of activity-based costing and describes how to develop and analyze cost information by product line. Methods and benefits of developing a standard costing system are described as well as variable and fixed costs. The concepts of price variance, volume variance, and efficiency variance also are described.

Estimated course completion time: 45 minutes
After this program, you'll be able to..
  • Recognize the importance of cost accounting in a healthcare organization
  • Recognize how the concepts of marginal cost and marginal revenue are combined to result in the contribution margin
  • Recognize how to utilize the contribution margin and fixed cost to determine a break-even point
  • Recognize the difference between full absorption costing and differential costing, and the appropriate application of each methodology
  • Identify how activity-based costing assigns indirect costs
  • Recognize the uses and benefits of product line cost and profitability analysis
  • Define responsibility accounting and identify its importance
  • Identify the types and benefits of a standard costing system
  • Identify the four types of cost behaviors
  • Define variance analysis utilizing price, volume, and efficiency variance calculations

Related Courses | Costing and Managerial Accounting

Certification | Overview | Accounting and Financial Reporting

Certified Specialist Accounting & Finance Recertification

The CSAF recertification program is recommended for active, eligible HFMA CSAF certificants with an upcoming maintenance due date of May 31, 2020. Not sure when your CSAF expiration date is? Sign in, click your profile image in the upper right corner, select My Development, and then click on the Certifications tab near the center of the page. You'll see your certifications along with their expiration date.


HFMA requires that eligible CSAF certificants gain continuing competence in the accounting and finance arena by taking a short assessment every two years. This program provides healthcare organizations with a means to ensure that their staff has the body of knowledge necessary to meet their demands. 

CSAF recertification course outline:
  • Financial Planning and Budgeting
  • Financial Reporting: Liabilities and Long-Term Debt
  • Financial Reporting: Relationships and Procedures
  • Financial Reporting: Revenue and Assets
  • Accounting Oversight and Internal Control
Assessment information:
This online program includes the above recertification courses and a recertification assessment. The assessment has 50 multiple choice questions and you have 90 minutes to complete it in one sitting. The passing score is 70%. If you do not pass on the first attempt, there is a mandatory 30-day waiting period. Please keep this in mind, as the deadline to complete the recertification assessment (to maintain your certification) is May 31, 2020.


On Demand Webinar | Intermediate | Physician Group Revenue Cycle

Building valid and meaningful physician performance reporting

Partnering with physicians through transparent performance data has become an important aspect of identifying physician-level opportunities to transform care, improve patient outcomes and reduce costs in a value-based care environment.  In this session, quality experts Amber Maner, Peterson Regional Medical Center, and Julie Brown, Kaufman Hall, will discuss how to leverage physician performance data to standardize and validate physician-level reporting in an efficient and meaningful way and use the results to engage physicians with relevant analysis to drive change.  The session is based on the real-world physician performance evaluation reporting journey at Peterson Regional Medial Center and industry best practices.

On Demand Webinar | Intermediate | Accounting and Financial Reporting

Provider costing to assess physician financial performance

Physician performance, both in terms of clinical quality and financial profitability, continues to be a key component of operational success in healthcare. Considering their work is often not only clinical, but also includes academic, research and administrative responsibilities, how does one accurately and completely assess these activities and determine the cost of care provided by physicians? Drawing on the experience of St. Joseph's Health in Paterson, New Jersey. This webinar explores the unique aspects of provider costing and decision support to fully analyze and report physician financial performance.

On Demand Webinar | Basic | Accounting and Financial Reporting

Implementing an effective cost accounting system

When Lafayette General Health looked to implement advanced cost accounting within their organization, they started with the end in mind. To make more informed, strategic decisions throughout the organization, they needed the ability to leverage accurate data through accessible, self-service clinical and financial dashboards, to drive action. Learn how Lafayette General Health began using advanced cost accounting methods to lead quality improvements, reduce costs, and support their revenue cycle functions within their organization.


Original live webinar date: 7/9/2019