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News | Costing and Managerial Accounting

HFMA's Digital Annual Conference June 24 and June 26 kicks off six days of virtual education for healthcare finance professionals

News | Costing and Managerial Accounting

HFMA's Digital Annual Conference June 24 and June 26 kicks off six days of virtual education for healthcare finance professionals

  • HFMA’s Digital Annual Conference — a six-day virtual event held over a two-month span — kicks off June 24, with sessions to help healthcare finance leaders deal with COVID-19 revenue and expense pressures as well as market challenges.
  • Maintaining COVID-19 partnerships and amplifying shared responsibility for financial sustainability are the overarching topics for the second day of the conference on June 26.
  • All six days of the conference are open to HFMA members as part of their membership and to nonmembers who join HFMA.

Editor’s note: For a full list of all the conference sessions during the first two days of HFMA’s Digital Annual Conference, June 24 and June 26, visit HFMA Digital Annual Conference site. Below are highlights of what you can expect each day.

HFMA’s Digital Annual Conference — a six-day virtual event held over a two-month span — kicks off June 24, with sessions to help healthcare finance leaders deal with COVID-19 revenue and expense pressures as well as market challenges. On June 26, the second day of the conference, attendees will learn how to maintain COVID-19 partnerships and foster shared responsibility for financial sustainability.

Overall, the conference will provide information to help healthcare finance professionals weather the COVID-19 storm, leverage the emerging silver linings and look toward a sustainable future.  

Conference registration

HFMA members can register for all six days of the conference as part of their membership, and nonmembers can attend the conference once they join HFMA. Members must register for each day of the event they wish to attend by visiting the HFMA Digital Annual Conference website.

Some of the can’t-miss sessions over the first two days are described below.

June 24 sessions

Wondering what the long-term implications of the COVID-19 pandemic may be for the economy, which in turn could mean an increase in uncompensated care? Those questions and more will be answered by Lisa Goldstein, associate managing director, Moody’s Investors Services, in this “Capital Market Outlook” session from 10:50 a.m. to 11:40 a.m. CT.

Many provider organizations have long known that standard cost accounting using ratios of costs to charges offers minimal value. Learn from representatives of the Cleveland Clinic and Owensboro Health System about their experience with accessing accurate cost data by using advanced cost accounting, as measured by the L7 Model. The “It Takes a Community: Understanding Costs with the L7 Model” session is scheduled for 12 p.m. to 12:50 p.m. CT.   

If CARES Act funding has left you with questions regarding appropriate accounting and financial reporting for these funds, join the “CARES Act Accounting Implications” session, 2 p.m. to 2:50 p.m. CT, for guidance from Brian Conner, CPA, of Moss Adams, LLP.

Visit HFMA’s "Know the Rules" Digital Annual Conference 2020 page for more information about all the June 24 digital conference sessions.

June 26 sessions

Traditional core revenue streams are no longer cutting it for many health systems. In the session “What’s Your (New) Persona?” from 10:15 a.m. to 11:05 a.m. CT, attendees will be challenged by HealthEco representatives to think about co-owning margins with new partners and solutions and explore paths for organizational recovery that depend less on traditional streams.

Learn how your healthcare organization could reduce cost by eliminating waste in a session from 11:15 a.m. to 12:05 p.m. CT by Rhonda Stewart, senior transformation sensei with Virginia Mason Institute.

If you’ve ever questioned the usefulness of adjusted discharges, Providence St. Joseph Health System will share how it effectively uses equivalent discharges and demonstrate why this metric is better suited to health systems than adjusted discharges in the session, “Why You Should Replace Adjusted Discharges” from 12:15 p.m. to 1:05 p.m. CT.

Visit HFMA’s “Co-Owning Margin” 2020 Digital Annual Conference page for more information about all the June 26 digital conference sessions.

CPE credit

HFMA members will be awarded CPE credits for each digital conference session attended.

July and August conference days

Additional Digital Annual Conference days, each with unique session themes and presenters, will be held July 15, July 17, Aug. 12 and Aug. 14. Stay tuned for more details in additional blog posts and visit the HFMA Digital Annual Conference website.

About the Author

Deborah Filipek, HFMA Senior Editor,

is a content editor at HFMA, Westchester, Ill.

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