Cost:

Free for HFMA Members
Buy Using Complimentary Registration Code

Audience:

Health Plans
Hospitals and Other Providers
Business Partners

Advance Preparation:

None

Field of Study:

Specialized Knowledge: 14.0 hours

Prerequisites:

None

Course Availability:

18 Months

Podcast | Finance and Business Strategy
Aneesh Krishna of McKinsey & Company discusses how successful healthcare organizations behave before, during and after an economic downturn. Also, Rich Daly and Chad Mulvany talk about surprise bills, and we list five things healthcare fina...
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News | Finance and Business Strategy
A new, next-level design makes hfm easier to read and more useful than ever.
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Podcast | Finance and Business Strategy
Ceci Connolly, president and CEO of the Alliance of Community Health Plans, talks about risk and behavioral economics.
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Column | Finance and Business Strategy
HFMA President and CEO Joe Fifer shares the story behind his appearance on the cover of the January issue of hfm.
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On Demand Webinar | Basic | Finance and Business Strategy
<div>Kaufman Hall and HFMA explored the powerful performance improvement strategies discovered in the third annual State of Healthcare Performance Improvement: <i>Strategy, Technology, and Tactics </i>survey. These strategies will position ...
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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
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: 9/22/2017

To earn CME for completing this program, click here.

Related Courses | Finance and Business Strategy

On Demand Webinar | Basic | Finance and Business Strategy

2019 Performance Improvement Insights: Strategy, Technology and Tactics that Drive Cost Transformation

Kaufman Hall and HFMA explored the powerful performance improvement strategies discovered in the third annual State of Healthcare Performance Improvement: Strategy, Technology, and Tactics survey. These strategies will position your organization to identify and establish clear and attainable performance improvement goals, and help you deploy successful cost transformation initiatives throughout your organization.

Original live webinar date: 11/21/19 

On Demand Webinar | Basic | hfma:content/topic/strategic_partnershipsmergersandacquistions

Getting the full value out of your transaction/acquisition plan

As the health care industry continues to consolidate, health system leaders are facing increasing pressure to aggressively acquire scale. With opportunities including acquisition or divestiture of individual hospitals, health systems, and physician practices, the M&A landscape has become even more complex. Additionally, shrinking margins and changing payment mechanisms also put greater pressure on realizing the expected value of a transaction through strategic, operational, and financial alignment.

This webinar will explain strategies for achieving the full value of your transaction by exploring frameworks and case studies for developing transaction value and defining strategic intent; conducting value focused diligence across 6-8 high value areas; and transitioning from deal planning and execution to integration planning and implementation.

We will present approaches to develop a replicable playbook that addresses that continuum, from due diligence and deal structure, Day 1 Readiness planning, and post-merger integration approaches. In addition to sharing some tested methodologies to enable achievement of the strategic and operational premise of any transaction, we will also share lessons learned from more challenging, and even failed transactions.

Original live webinar date: 11/19/19

On Demand Webinar | Overview | Cost Reduction

Change management practice leads to pharmaceutical cost reduction strategies

One of the highest costs in any healthcare organization is the pharmaceutical spend, yet there often exists a dichotomy between the purchasers and the end users, which leads to unexpected expenses that are poorly controlled.  This webinar will describe a change management system to track, assess and mitigate pharmaceutical costs. We will describe the inception of this change management system idea, the early phase development and rollout of the system as well as review our early wins. We will explain some of he issues that ae innate to most health systems and the strategies that pharmaceutical companies use to keep their profits high.  At the end of the talk, your teams should understand how this methodology can be incorporated into any healthcare organization, and the framework required to support this initiative.

Original Live Webinar Date:10/23/2019

On Demand Webinar | Update | Legal and Regulatory Compliance

Understanding what the new proposed rules of the CFPB mean for you

This webinar will provide a high level of the proposed rules from the Consumer Financial Protection Bureau (CFPB), will identify areas of specific interest, both positive and negative, and will describe what medical providers should consider in order to maintain compliance as they partner with third parties in the revenue cycle management process that are directly governed by debt collection regulations and the proposed rules. Participants will take away specific opportunities to improve patient experience and increase recoveries through around omni-channel communication options that will be available under the proposed rules.


Original live webinar date: 10/8/2019