Cost:

Free for HFMA Members
Buy HFMA Membership to Attend

Audience:

Health Plans
Business Partners
Hospitals and Other Providers

Career level:

Early Careerist
Experienced Professional
Student

Recommended for:

Accounting
Business Development
Business Operations
Healthcare Economics
Operations Support

Delivery Method:

QAS Self Study

Advance Preparation:

None

Field of Study:

Specialized Knowledge: 14.0 hours

Prerequisites:

One or more years in the healthcare industry is recommended

Course Availability:

18 Months

Course | Overview | Finance and Business Strategy

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 ...

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Tools & Tips | Finance and Business Strategy

Healthcare organizations that are launching a provider-sponsored health plan should consider four recommendations.

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Article | Finance and Business Strategy

Health systems are showing renewed interest in forming provider-sponsored health plans for a number of reasons, including rising enrollment in Medicare Advantage plans and discontent with payer-provider partnerships.

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Column | Finance and Business Strategy

Because the perspectives of participants in healthcare integration initiatives can change over time, causing their business and financial needs to move out of alignment, it is important to reassess the integration relationships at regular i...

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Article | Finance and Business Strategy

Rising pharmaceutical prices threaten the operation margins of hospitals and health systems.

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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

Whether your passion is fueled by working directly with patients or behind the scenes, the business of health care matters to everyone striving to become part of the solution and improve the health of all Americans. In today's world, no matter who you are - administrator, physician, nurse, finance professional, pharmacist, or accountant - business fundamentals such as pricing, cost, revenue, payment, and delivery models are the essential context for decision-making in every part of the process of delivering care.

HFMA's Business of Health Care® Online Program was designed to give you an overview of that essential context. Understanding it and knowing why it works the way it does - and how it should work in the future - means you'll work more effectively toward the shared goal of health care today: improving patient health.
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

Related Courses | Finance and Business Strategy

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

Browsers:
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 - http://get.adobe.com/shockwave/
Adobe Flash Player - http://get.adobe.com/flashplayer/
Java - http://www.java.com/en/download/index.jsp

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

Course | Intermediate | Capital Finance

E2AF04-Capital Planning and Financing

This course provides basic information about forms of long-term debt available to hospitals and how much an organization can and should borrow. It also explains the nature of the covenants, or legal obligations, placed on the borrower of healthcare bond issues; discusses how debts were restructured in the past; and describes how to put together a financing team. The course explains the discounted cash flow method of quantifying the value of capital assets to be acquired and gives examples of how to calculate present value. Replacement cost and market comparison approaches to making capital investment decisions are also described. This course covers the two types of equity financing and lists the benefits and risks associated with joint venture business relationships. Finally, the course explains how capital and operating leases work and which criteria credit agencies use to assess an organization's creditworthiness.

Course | Intermediate | Budgeting

A&F: Budgeting and Forecasting

This course introduces budgetary control and explains the principles of strategic planning. It also describes the components of a business plan, explains the types of control budgets, lists the types of budgeting techniques, and explains budget variables. The course describes reporting functions, including responsibility reporting and offers details about types of cost behaviors. It introduces ratio analysis and discusses the four broad categories of ratio analysis.

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.