HFMA Certification Programs Presented By the ___________Chapter

HFMA Certification  Part I Sizing Up the Industry & Seizing the Opportunity  Part II Attaining HFMA Certifications

My Career My Career…  Is DOA each and every day  What “career”?  I have no time for a “career”  I don’t worry about it … should I?? Why?

Employer My employees’ careers:  Last as long as they “add-value”  Need to be current with industry environment and technology  Are a fundamental resource for the organization but,…..  Are ultimately their responsibility

Certification…  Validate your skills and knowledge  Enhance your credibility in the industry  Support your professional development  Demonstrate a high level of commitment to the field

Longer –Term Opportunity Healthcare Current Employment Number Percent Percent Change Current-2018 All healthcare Occupations 14M+100%+ 22.5% Management, Business, Finance 614K4.3%+ 16.8% Source: Dept. of Labor Bureau of Statistics

Market Trends with Staying Power  Rising interest in workforce development  Credentials

Market Trends with Staying Power  Critical organizational awareness: –An organization’s workforce is its most valuable asset and, –Investment in workforce development is a primary business strategy

Market Trends with Staying Power  An intriguing “twist” to workforce development –Individuals are recognizing the importance of assuming responsibility for their careers growth and direction –People today understand the importance of acquiring and maintaining career-related skills –Credentials including licenses, certifications, and advanced study programs play an increasingly important role in professional success

Success in Our Industry  HFMA’s Healthcare Financial Pulse research: –Organizations today must commit to the “bread and butter” financial management – i.e., technically strong and comprehensive financial management skills –HFMA certification programming addresses this need

HFMA Certification Certifications provide:  Assessment of job-related competency  The opportunity for an individual to demonstrate skills and knowledge  Independent verification of the skills and knowledge  Confirmation that an individual is current in the practice field

HFMA Commitments  Provide individual career development for staff  Provide a career “tool-path-ing” for HFMA members’ organizations

Building Careers HFMA Competency Framework: Executive:FHFMA Managerial:CHFP content and certification Professional :CRCR content and certification All:CTS Programs

Sizing Up and Seizing  Sizing up the industry –Significant growth anticipated – Need for finance professionals  Seizing the opportunity –Knowledge and skill development adds value and distinguishes oneself –Certification attests to demonstrated skill and currency of practice –HFMA certification: an opportunity to deepen the cross-functional, technically integrated knowledge needed in financial management today

Part II – Attaining CHFP Certification Ideal CHFP Candidate A recommendation:  3-5 yrs, hospital/healthcare system operations management experience including financial responsibility or senior accountant/analyst The requirement for certification:  Current FULL HFMA membership

CHFP Knowledge and Skills Six Areas  Revenue Cycle 21-25%  Disbursement 4-8%  Budgeting & Forecasting 18-22%  Internal Controls %  Financial Reporting 16-20%  Contract Management 13-17%

CHFP Exam Process  Purchase through HFMA website –online study materials –exam registration/application  Schedule test through HFMA website (Castle)  Take the exam – 150 multiple choice questions with 4 hour time limit  Passed – Congratulations! –Receive CHFP Certificate from Castle Worldwide  Unsuccessful –Wait 90 days, schedule retake, pay $200

Sample Online Study Guide Module

iPAD Study Guide Version URL: curriculum/id ?ls=1&mt=8

CHFP Exam Registration Page URL:

Fellowship with HFMA  Current CHFP designation  Five years total as a regular or advanced HFMA member  Bachelor degree or 120 semester hours from an accredited college or university  Volunteer activity in healthcare finance industry within 3 years of applying for the FHFMA designation

CHFP & FHFMA Certification Maintenance  60 hours of continuing education are required in a three (3) year maintenance reporting period. Reported through HFMA’s online reporting tool  Remain an active HFMA member in good standing

CRCR Certification Program  T he CRCR Certification Program is available to individuals and organizations.  Comprehensive program consists of an online self-study course, and an online exam with 150 questions  Online CRCR self-study course can be completed in approximately 10 hours.  Candidates will be able to print out a certificate and congratulatory letter upon successful completion of the exam.

What Is the Value of the CRCR Certification Program?  Healthcare rules are becoming more complex.  Customers are demanding more, and staff is being held at a higher level of accountability than at any other time.  Today’s revenue cycle staff must have a broader understanding of the entire revenue cycle and how it influences the financial outcomes of the healthcare organization.

CRCR Benefits for Individuals  Achieves a recognized professional certification and designation by the leading healthcare finance professional association  Provides verification of professional competencies and currency  Enhances career growth opportunities  Provides a deep understanding of revenue cycle operations  Demonstrates a commitment to professional growth

CRCR Certification  Base program is $  At the successful completion of the program, HFMA members and non-members will become certified in the CRCR program.  HFMA members and non-members who have earned the CRCR designation must recertify every two years - –Recertification 75 question $  The CRCR exam will be proctored electronically and monitored by HFMA.

Certified Technical Specialist (CTS) Programs  HFMA’s CTS programs help mid-level managers: –expand their functional skills and knowledge –prepare for certification programs like the CHFP or FHFMA –Offered in the following areas and are $400 each for members and non-members: Accounting and Finance Managed Care  Available to HFMA members and non-members - $400 each

Certified Technical Specialist (CTS) Programs  The CTS program materials are valid for one year from date of purchase.  The online exam consists of a 75 questions to be completed in 90 minutes.  A recertification exam is required every 2 years

Seize the Day Carpe Diem Efforts at building knowledge and skills, coupled with loyalty to your own career, will make for a personally satisfying career.

HFMA Certification Resources For more information about the HFMA Certification Programs: OR Send an to OR Call and ask for Career Services