Management Global Assessment


Knowledge Base Self-Assessment


What is a self assessment about?

A self assessment should be among the first steps you take when choosing a career direction. Learning about yourself helps you select what direction to pursue. HFMA provides skills self-assessments for healthcare finance professionals.

The self-assessments present HFMA’s finance competencies and are structured to identify required capabilities for the professional staff, managerial and executive levels. Taking the assessment is easy and you can use the results of the skills assessment to initiate career development by acquiring the skills you need for a particular position.


Indicate importance/relevance of each activity to your job and select the level of expertise/knowledge you have in this area.

I. Revenue Cycle Function

Revenue Cycle FunctionImportant
for my job
Competency Level
Yes No Novice
1

2
Competent
3

4
Expert
5
A.
Data collection (demographic, financial, clinical, authorization, verification)
B.
Charge capture and recording of clinical events (test is ordered, physician sees a patient)
C.
Clinical documentation and coding (e.g. clinical quality standards)
D.
Bill generation (e.g. underlying applications, claim scrubber)
E.
Accounts receivable posting (e.g. cash, contractual, denial management, write-offs)
F.
Collection/reimbursement (expected vs. actual, coordination of benefits, charity care/bad debt policies, credit balances)
G.
Payer payment audits (pre, concurrent, post)


II. Disbursement Functions

PayrollImportant
for my job
Competency Level
Yes No Novice
1

2
Competent
3

4
Expert
5
A.
Regulatory data collection; employee/independent contractor financial data collection (e.g. I-9, W-4, W-0)
B.
Workload data collection (hours, overtime, sick time, vacation time); exemptions

PurchasingImportant
for my job
Competency Level
Yes No Novice
1

2
Competent
3

4
Expert
5
C.
Creation of requisition, PO, Check request
D.
Authorizations
E.
Procurement (RFP, contracting)
F.
Verification/approval
G.
Payment processing/posting


III. Budgeting & Forecasting Functions

Budgeting & Forecasting FunctionsImportant
for my job
Competency Level
Yes No Novice
1

2
Competent
3

4
Expert
5
A.
Data collection and analysis (historical, volume, revenue, expenditures)
B.
Projection (revenue, volume, expense)
C.
Capital planning (needs assessment, building, personnel, equipment)
D.
Cash flow (in and out)
E.
Budget analysis and monitoring (e.g. variance analysis)
F.
Financial options analysis (e.g., tax-exempt, lease-purchase, debt instruments, cash, equities/stock)


IV. Internal Control Functions

Internal Control FunctionsImportant
for my job
Competency Level
Yes No Novice
1

2
Competent
3

4
Expert
5
A.
Segregation of duties
B.
Safeguarding assets
C.
Safeguarding of data
D.
Regulatory compliance (HIPAA, EMTALA, PHI, Stark, Sarbanes-Oxley)
E.
Billing compliance (e.g. internal audits, charge validation, MAC, RAC, ZPIC, MIC, OIG, FCA)
F.
Information technology system validation (interfaces and handoffs)


V. Financial Reporting Functions

Financial Reporting FunctionsImportant
for my job
Competency Level
Yes No Novice
1

2
Competent
3

4
Expert
5
A.
Preparation of financial statements (GAAP, non-GAAP, period end closing)
B.
Governmental reporting (e.g. cost reporting, IRS reporting, Medicare/Medicaid, CHAMPUS)
C.
Internal management reporting (e.g. cost accounting, productivity analysis, benchmarking, departmental analysis)
D.
Ratio analysis (e.g. days in accounts receivable, days in accounts payable, cash on hand)
E.
Monitor contracts to insure performance compliance (e.g. physician, payer, maintenance, vendor, purchasing, group purchasing organizations)


VI. Contract Management

Contract ManagementImportant
for my job
Competency Level
Yes No Novice
1

2
Competent
3

4
Expert
5
A.
Monitor contracts to insure performance compliance (e.g. physician, payor, maintenance, vendor, purchasing, group purchasing organizations)