Operational Excellence Exam - Module II of CHFP

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.

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.

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.

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.