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Why is the Certification Program Changing? The healthcare reform environment has caused the industry’s key stakeholders ‐ providers, payers and physicians.

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Presentation on theme: "Why is the Certification Program Changing? The healthcare reform environment has caused the industry’s key stakeholders ‐ providers, payers and physicians."— Presentation transcript:

1 Why is the Certification Program Changing? The healthcare reform environment has caused the industry’s key stakeholders ‐ providers, payers and physicians ‐ to fundamentally rethink existing business models. Care transformation is business transformation. The existing certification program focuses narrowly on applied finance and financial reporting and does not address the business environment. 1

2 Our Industry 2 4

3 Business Reality Reform Requires Informed Talent HFMA role: - Lead the industry through learning -Develop careers through learning that makes people effective with change -All relevant learning is now available in one place 3

4 Industry Need Financial professionals who: Possess broad understanding of the health care industry Demonstrate deep technical skills Function productively multidisciplinary teams Exert business savvy to lead 4

5 HFMA Response Pledge Provide education focused on building business acumen Incorporate HFMA transforming strategic vision: Multidisciplinary approach to healthcare integrating physician/payer/provider; Connected to Careers 5

6 CHFP Realigned 6 Provider Strategic Vision Payer Physician Business Environment : High Value Health Care CHFP Structure - 2 Modules 1.The Business of Healthcare 2.Stakeholder Concerns

7 Program Comparison 7

8 8 Certified Healthcare Financial Professional ( CHFP) Program Features

9 CHFP Program Objectives  Strategic focus  Focus is on Learning, not demonstrating expertise and experience  Relevant to broader industry  Practical business savvy 9

10 What Career Level is the New CHFP Certification Program Designed? Professional staff – new to field/early careerist Management – experienced, seeking to advance career Executive – experienced, need to develop staff Those who aspire to be managers, leaders in Healthcare roles, i.e. clinical, non ‐ clinical providers, vendors, and payers. 10

11 CHFP Program  Available online from HFMA  2 part structure: 1.The Business of Healthcare - Understanding the business environment from a finance perspective 2.Operational Excellence - Providers, Physicians and Payee business challenges 11

12 Module I: The Business of Healthcare 6 courses: 1)Healthcare Finance: The Big Picture 2)Financial Accounting concepts 3)Cost Analysis Principles 4)Strategic Financial Management Issues 5)Managing Financial Resources 6)Looking to the Future End of program assessment 12

13 The Online Program Adult learning style Fresh new look Learner feedback as a learning strategy Learn at an individual pace Bookmarking Resources, tools 13

14 Module II: Operational Excellence Providers – Payers – Physicians Stakeholders:  Business partners  Business savvy  Business success A case study approach to validating knowledge 14

15 Module II: Operational Excellence “Direct Question” Case Study Content area: Contemporary Provider, Payer and Physician business challenges Focus: Application of Module I concepts  Awareness of issues  Ability to synthesize learnings - application  Understanding environment factors  Display range of knowledge 15

16 Earning the CHFP CHFP Awarded:  Work through both modules and pass both end of module assessments  HFMA membership 16

17 New CHFP Program Registration Access CHFP registration via the HFMA website CHFP Modules hosted via the HFMA LMS CHFP course access through your HFMA eLearning account Costs – Total = Member: $700 Member:  Module I - $400 Member, $450 Non-Member  Module II - $300 Member only  No cost to retake exams (must wait 30 days to retake) 17

18 FAQ’s Q: What is the estimated time commitment for going through the certification program? Average completion time? A: The program is self ‐ paced so completion time varies. Candidates can reasonably expect to spend a minimum of 20 hours in preparation. Q: Is there a time frame to complete Module 2 after completing Module 1? A: To earn the CHFP both modules must be successfully completed within a 24 month period. 18

19 Other FAQ’s Q: Are free practice exams for the new program available through HFMA? A: Yes, there will be sample questions for both modules of the new CHFP program. Q: Will there be a mobile app version (for Smartphone’s, tablets, etc) available for the new program review? A: No, currently there is not a mobile app version of the new CHFP eLearning program available. 19

20 Retaining CHFP Maintenance Required ‒ 60 hours in a 3 year maintenance report period ‒ Grace period June 1 through July 15 ‒ Retest is an option 20

21 Interested in Becoming Certified? All registration is handled online through HFMA national’s website. More information available at https://www.hfma.org/Content.aspx?id=511 https://www.hfma.org/Content.aspx?id=511 KY Chapter Contact - Cindy Sharp at (502) 213-8976 or Cindy.Sharp@passporthealthplan.com Cindy.Sharp@passporthealthplan.com 21


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