"The completion of the organization of The American Association of Hospital Accountants [AAHA] is the fruition of the hopes, dreams, aspirations, and planning of many serious-minded hospital accountants who conscientiously believe the hospital accountant and [their] profession deserves a prominent place in the constellation of other hospital specialties."
— Frederick T. Muncie, CPA, HFMA founding father and the Association’s first president
With these words in the June 1947 inaugural issue of Hospital Accounting, the Journal of the American Association of Hospital Accountants, Frederick T. Muncie heralded the culmination of a three-year national effort to establish the AAHA — which would eventually evolve into HFMA — as the nation’s premier association for healthcare finance professionals. The AAHA was officially founded about one year earlier, with its first meeting occurring in the Summer of 1946. Writing in his "Message from our President," Muncie said, "It may be a bit of vain prophecy, but in the exuberance of our enthusiasm, we believe that the formation of the American Association of Hospital Accountants is an epoch-making event in the hospital field."