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Business Partners
Hospitals and Other Providers

Career level:

Experienced Professional

Recommended for:


Delivery Method:

Self Study

Advance Preparation:




Course Availability:

18 Months

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.

Tools & Tips | Costing and Managerial Accounting

HFMA and Strata are introducing the L7 Cost Accounting Adoption Model help healthcare providers access accurate cost data via the use of advanced cost accounting.

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.

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).

Trend | Costing and Managerial Accounting

An analysis of factors driving increases in payment in the U.S healthcare industry, using Equivalent Discharges as the volume metric, finds that 84 percent of the increase are related to increased population and intensity of service.

Course | Intermediate | Costing and Managerial Accounting

A&F: Cost Analysis and Management

Course | Intermediate | Costing and Managerial Accounting

A&F: Cost Analysis and Management


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.
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

Course | Overview | Finance and Business Strategy

HFMA Business of Health Care® (for CME)

Whether you are a clinician, physician, finance or health plan leader, nurse, therapist, dentist, or pharmacist, HFMA Business of Health Care® was designed to give you an essential understanding of the complex ecosystem your day-to-day operations are part of. That understanding can help you use your knowledge and skills more effectively to improve patient care and health outcomes.

As important, it can enable you to contribute to the critical conversations and decision-making that are changing the industry and how you work in it.

Participants who successfully complete the six-course sequence and the final evaluation of knowledge may qualify to earn continuing education credits. All participants who meet the program's requirement receive a course completion certificate - recognition they can use to advance in their career and demonstrate their commitment to excellence.

Title: HFMA Business of Health Care®
Original Release Date: 3/1/2016
Renewal Date: 4/1/2019
Expiration Date: 3/31/2020
You have access to this course for one year from purchase date
HFMA Business of Health Care online study materials PIM cost: $399
Estimated time to complete activity: 14 hours

Hardware and software needed to participate in the activity:
Operating Systems:
Windows versions XP and above, and MAC OS X 10.5 Leopard and above

Internet Explorer: We have officially supported IE 7 and up (although please note that Microsoft has itself warned against versions older than IE 8.0)
Mozilla Firefox: most recent two public versions
Chrome and Safari: more recent two public versions

eLearning Course Requirements:
Adobe Shockwave Player -
Adobe Flash Player -
Java -

For CME/CE questions, contact Postgraduate Institute for Medicine at
The online course is hosted by Healthcare Financial Management Association and the exam is hosted by Postgraduate Institute for Medicine.

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 | Billings and Collection

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.

On Demand Webinar | Intermediate | Revenue Cycle

Advanced cost accounting: An organization's journey to Level 7 costing

Healthcare providers have little to no access to accurate, comprehensive, and actionable information on the cost of care.  While hospitals and health systems represents roughly $2 trillion of the annual spend on U.S. healthcare, close to 30% area operating at a loss.  As healthcare organizations face the challenge of reducing variation, waste and inefficiency to invest in higher value care, they need access to data and methodologies that can help them.  Baptist Health began the journey to and cost accounting using the HFMA-Strata 7 Cost Accounting Adoption Model as their roadmap.  In this session, discover how Baptist Health developed more sophisticated advanced processes and workflows to increase the accuracy and accessibility of their cost data... and achieve more meaningful, accurate financial output.