Have you ever wanted to pursue that coveted Fellow designation? Did you know that certification is a key step in becoming a Fellow? What about proving to everyone just how much you really know about healthcare finance? Attaining your Certified Healthcare Financial Professional (CHFP) certification offers a number of benefits, including:
- Learning everything that a CFO deals with on a daily basis including revenue cycle, financial ratios, cash management, charge capture, compliance, variance analysis, cost reporting etc.
- Formal recognition of your existing knowledge of the healthcare financial topics
- Completing a key step in becoming a Fellow of HFMA
The Board of Directors and Chapter Officers support and encourage all members to become certified by HFMA. Learn more about the certification process here.
(as of 9/1/2015)
Changes to HFMA’s CHFP Certification Program
HFMA’s strategic vision characterizes the current healthcare business environment as the transformation of care to achieve value. Providers, physicians, and payers are all confronted with new business challenges. The nature of the business environment and its impact on industry stakeholders supply both the demand for and elements of a new approach to the CHFP.
New CHFP program features
- • A learning program designed to build comprehensive industry understanding and sharpen business skills;
- • Two-module structure:
- 1. HFMA’s Business of Health Care – Healthcare finance overview, risk mitigation, evolving payment models, healthcare accounting and cost analysis, strategic finance, and managing financial resources.
- 2. HFMA’s Operational Excellence exam – Healthcare Industry Stakeholder’s Business Challenges; exercises and case studies on the application of business acumen in health care.
- • CHFP designation earned by successful completion of both modules;
- • Online study materials created specifically to assist in mastering the business content.
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 necessary success factor for finance professionals today: Change-oriented business acumen. The existing certification program focuses narrowly on applied finance and financial reporting and does not address the business environment.
Earning the CHFP – It is important to note that the CHFP credential is awarded upon successful completion of module I end of course assessment and module II case study exercises and exam. HFMA membership is required for module II.
CHFP Program Requirements and Costs
The new CHFP program includes two modules. Costs are outlined below:
- • Module I of the CHFP program: HFMA’s Business of Health Care program
$400-Member, $450 Non-Member. No prerequisites/requirements.
- • Module II of the CHFP program: HFMA’s Operational Excellence exam
$300- Member only. There are 2 requirements to purchase this module- HFMA membership (excludes student members) and completion of Module I.
CHFP and FHFMA Certification Holders
Individuals who have earned the CHFP [and Fellowship] prior to 2015 are not affected. Also, the new CHFP and how the program integrates with the Fellowship (existing FHFMA) are not affected. Both programs are on the same “knowledge – competencies “continuum. As such, they are integrated, and not in opposition in three anchors: knowledge base, competencies-skills and currency-relevance. More details can be found in the current FAQ document.
Questions? Please contact either of the following committee chairs: