CHFP Exam Information and Guideline
Certified Healthcare Financial Professional (CHFP) - 2024
Below are complete topics detail with latest syllabus and course outline, that will help you good knowledge about exam objectives and topics that you have to prepare. These contents are covered in questions and answers pool of exam.
Module I - Business of Health Care: Participation and successful end-of-course assessment of the HFMA Business of Health Care® online program offering participants an overview of healthcare finance, risk mitigation, evolving payment models, healthcare accounting and cost analysis, strategic finance, and managing financial resources.
Module II - Operational Excellence: CHFP aspirants must also complete HFMA's Operational Excellence exam, which includes exercises and case studies on the application of business acumen in health care.
Please note HFMA membership is a required aspect for earning and maintaining the CHFP credential.
Paid student members are eligible to register for and to take both modules of the CHFP certification program (included with membership). Student members who successfully complete the CHFP requirements (two modules) will earn their designation upon assuming Professional or Business Partner level member status.
The Big Picture Healthcare environment
- Reform/Current State of US Healthcare
- Transformation Under Reform
- Payment System Overview
- The Role of Financial Management in Health Care Organizations
- Management Roles & Hierarchy
- What Keeps CFOs Up at Night?
Financial Accounting Concepts Accounting Principles
- Analysis of Financial Statements
- Management Reports
- Accounting Terminology
- Reports for financial analysis
Cost Analysis Principles Cost Management
- Definitions
- Traditional Cost-Finding Methods
- Setting Prices
- Profit analysis
Strategic Financial Issues Basics of Strategic Planning
- Budgeting Concepts
- Variance Analysis
- Revenue & Performance Budgeting
- Controlling Operating Results
- Benchmarking, Productivity, and Cost-Benefit/Cost-Effectiveness
- Analysis
Managing Financial Resources Financing the Healthcare System: Revenue Cycle
- Working capital management
- The Use of Metrics and Data
- Long-Term Financial Resources
Looking to the Future ACA, ACOs & Bundled Payments:
Evolving Reimbursement
The Need for Business Intelligence & Analytics
Population Health Management
Aligning Clinicians and Finance Professionals to Drive Value
Accountable Care Organizations – Payer Cancers
Premium Growth in a Shifting Environment
Denials of coverage
Limitations on profits
Health Insurance Exchanges
Payer consolidations
Unsustainable rates
Payer Differentiation
Rise of Business Process Outsourcing
Consumerism and physicians
Physician –Hospital alignment
Demand for Physician Collegiality
Emerging Ancillary Positions
Physician Burnout
Physician Independence
Physician Shortages (Leakage)
Physicians as Entrepreneurs
Reform and Physician Liability
Physician – Hospital Financial
Relationships
Hospital Consolidations
Hospital – Physician Alignment
Hospital Facing Bankruptcy
Provider- Payer Consolidations
Physician Engagement and Leadership
Integrated Care Delivery
Physicians Remaining
Independent
Accountable Care Organizations
Sustainability of Physician
Employment
Module I Concept Guide – It is recommended that you preview this guide prior to working through the online materials. For example, the pages in this guide associated with the Patient Protection and Affordable Care Act (PPACA) may be viewed before working in the first course, Healthcare Finance -- The Big Picture. This preview indicates the key concepts that will be covered and attunes you to areas of professional practice that may be less familiar. Feel free to make notes in this document. By taking the time to customize this guide, you can develop a handy reference tool as you continue your work in health care.
• Module II Concept Guide - It is recommended that candidates preview the key‐concept guide prior to working through this online course. The module is itself an examination with three (3) hours allowed for completion. This preview indicates the key business challenges that will be presented and attunes candidates to areas of professional practice that may be less familiar. The learner guide can then be used to focus additional outside reading and study on unfamiliar issues