Cost:

Free for HFMA Members
Register with Code

Audience:

Health Plans
Hospitals and Other Providers
Business Partners

Career level:

Experienced Professional
Student
Early Careerist

Recommended for:

Healthcare Economics
Operations Support
Business Development
Business Operations
Accounting

Delivery Method:

QAS Self Study

Advance Preparation:

None

Field of Study:

Specialized Knowledge: 14.0 hours

Prerequisites:

None

Course Availability:

18 Months

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Certification | Overview | Finance and Business Strategy

HFMA Business of Health Care - Module I of the CHFP

Certification | Overview | Finance and Business Strategy

HFMA Business of Health Care - Module I of the CHFP

Description

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 goal of improving patient health.

Available online, 24/7, and at no additional cost when you are a member of HFMA.

"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

Course Outline:
The Big Picture
Financial Accounting Concepts
Cost Analysis Principles
Strategic Financial Issues
Managing Financial Resources
Looking to the Future

Assessment information:
This online program includes a key concepts guide, the course modules listed above and a 75 multiple choice question assessment. You have 90 minutes to complete it in one sitting. The passing score is 70%. If you do not pass the assessment on the first attempt, there is a mandatory 30-day waiting period. You'll have access to the exam summary and course modules while you wait for your next attempt. The exam summary will show you how you did on the questions from each course module of the online program.

Estimated course completion time: 10-14 hours

Note: If you are an HFMA member and currently registered for this program and need additional time because it is expired or expiring soon, please email elearning@hfma.org to request an extension.
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

Online program last updated: 3/12/2020

To earn CME for completing this program, click here

Student members: Earn college credit. Student members of HFMA can earn 3 college credits outside the classroom when successfully completing the HFMA Business of Health Care online program and keep a permanent record of this on file. More here under student member benefit details.

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Original Live Date: HFMA Digital Annual Conference (8/12/2020)