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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 ‐ 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.

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Our Industry

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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

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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

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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

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CHFP Realigned

Provider

Strategic Vision

Payer

Physician

Business Environment :High Value Health Care

CHFP Structure - 2 Modules1. The Business of Healthcare2. Stakeholder Concerns

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Program Comparison

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Certified Healthcare Financial Professional (CHFP)

Program Features

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CHFP Program Objectives

Strategic focus

Focus is on Learning, not demonstrating expertise and experience

Relevant to broader industry

Practical business savvy

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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.

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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

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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

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The Online Program

• Adult learning style

• Fresh new look

• Learner feedback as a learning strategy

• Learn at an individual pace

• Bookmarking

• Resources, tools

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Module II: Operational Excellence

• Providers – Payers – Physicians Stakeholders:

Business partners

Business savvy

Business success

• A case study approach to validating knowledge

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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

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Earning the CHFP

CHFP Awarded:

Work through both modules and pass both end of module assessments

HFMA membership

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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)

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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.

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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.

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Retaining CHFP

• Maintenance Required

‒ 60 hours in a 3 year maintenance report period

‒ Grace period June 1 through July 15

‒ Retest is an option

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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

• KY Chapter Contact - Cindy Sharp at (502) 213-8976 or Cindy.Sharp@passporthealthplan.com