Transcript 2011-12-Presentation-Why-Be

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 Percent Change
Number Percent Current-2018
All healthcare
Occupations
14M+
100%
+ 22.5%
Management,
Business,
Finance
614K
4.3%
+ 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
Disbursement
Budgeting & Forecasting
Internal Controls
Financial Reporting
Contract Management
21-25%
4-8%
18-22%
15 -19%
16-20%
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: https://itunes.apple.com/us/app/healthcare-finance-corecurriculum/id605684714?ls=1&mt=8
CHFP Exam Registration Page
URL: HTTP://WWW.HFMA.ORG/CHFP/.
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
 The 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 $400.00
 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 test @ $100.00
 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:
www.hfma.org/certification
OR
Send an e-mail to [email protected]
OR
Call 1-800-252-4362 and ask for Career Services