Cost:

Free for HFMA Members
Buy HFMA Membership to Attend

Audience:

Hospitals and Other Providers
Business Partners
Physicians and Other Practitioners

Career level:

Experienced Professional
Mid-Senior
Executive

Recommended for:

Business Operations
Physician Practice

Delivery Method:

Self Study

Advance Preparation:

None

Prerequisites:

None

Course Availability:

18 Months

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Course | Intermediate | Risk Management

Malpractice Insurance and Risk Management

Course | Intermediate | Risk Management

Malpractice Insurance and Risk Management

Description

This course describes the types of insurance available to healthcare organizations to protect against unavoidable losses. It also describes the objectives, benefits, costs, and challenges of risk management, and presents approaches to funding future losses. This course also explains how a provider can transfer risk to an independent third party and how the amount transferred affects the accounting treatment of loss. The course explains IRS requirements for reporting compensation arrangements on Form 990 and describes employers' requirements to provide, account for, and report post-employment and postretirement healthcare benefits.

Estimated course completion time: 1 hour and 30 minutes
After this program, you'll be able to..
  • Recognize how to calculate the covered loss of an insurance policy
  • Recognize the advantages of different methods of insuring
  • Recognize how an unfunded loss reserve can be used to fund future losses
  • Recognize how a captive insurer works
  • List common alternatives to occurrence-based coverage of malpractice insurance costs
  • Recognize how retained risk influences the accounting treatment of loss
  • Recognize how to estimate and accrue uninsured loss, including required conditions
  • Identify how providers can estimate the amount required to be accrued for incurred but not reported (IBNR) claims
  • Identify those incidents not reported during the term of a claims-made policy for which providers must accrue losses
  • Recognize how tail coverage works to cover claims incurred before but reported after cancellation of claims-made coverage
  • Define a retrospectively rated policy
  • Identify the appropriate amount of contribution to be made in a self-insurance trust each year
  • Classify trust fund assets in financial statements
  • Recognize the areas where exposure to risk is greatest in the healthcare organization environment
  • Identify established functions in risk control
  • List the different kinds of financial loss categorized as risk in the hospital
  • Identify the compensation information that not-for-profit organizations must disclose in IRS Form 990
  • Recognize employers' obligations to provide post-employment benefits
  • State when to recognize the expense associated with postretirement health benefit plans
  • Recognize what methods should be used to account for postretirement benefits

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Developing and executing an enterprise risk management strategy

Attendees will learn how to develop an enterprise risk management (ERM) strategy and understand the structure of an ERM plan and methods for implementation from the perspective of healthcare systems that have a mature approach to ERM. Topics covered include identifying key leadership to be involved in the process and how to prepare for ERM, conduct meetings and discussions, and compile and communicate ERM results.
Original Live Webinar Date: 10/15/20

On Demand Webinar | Intermediate | Coronavirus

Key cybersecurity considerations during COVID-19

The quick onset of COVID-19 forced the majority of health care organizations to change their business models in a significantly accelerated manner to ensure the continuity of their operations.  This has introduced unanticipated risks in the process, which can have a subsequent impact of data loss, data corruption or compliance failures.

This webinar will help health professionals maintain an oversight role for critical risks.  Real world professionals will provide guidance to navigate and address the uptick in cyber threat activity, a significantly expanded IT footprint brought about the increased remote workforce, new cloud technologies for virtual care and the regulatory impacts on expansion of access to protected health information on expansion of access to protected health information and HIPPA compliance.

Original Live Webinar Date: 5/12/2020

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Compliance and HIPAA Regulations

This course addresses the rise of corporate compliance programs in healthcare organizations, including their complexity and importance. It reviews the components of corporate compliance programs and the role of a compliance officer to know the statutes and regulations that govern all federal programs, and to operate within them. You'll know more about the Health Insurance Portability and Accountability Act (HIPAA), including electronic transaction code sets, and privacy and security components.


Estimated course completion time: 1 hour

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Accounting Oversight and Internal Control

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Estimated course completion time: 1 hour and 15 minutes