MU HFMA Business of Health Care® Experience

SESSION I: The Big Picture and Financial Accounting Concepts

April T.B.D. | 9 A.M. to 12 Noon     
The Ware Center, 42 N. Prince Street, Lancaster PA

Moderator:  Denise A. Kennedy
Title: Vice President, Financial Services
Affiliation:  Penn Medicine Lancaster General Health

• Healthcare Finance – The Big Picture
  This session presents a big picture overview of the evolution of healthcare service delivery and payment. It highlights the healthcare transformations including the shift from volume to value, quality, patient satisfaction, competition on cost and the evolution of the payment system.  
  
  
• Financial Accounting Concepts
  The purpose of financial accounting is to summarize financial activity in a business in the financial statements. Accurate, complete, responsible financial accounting is an absolute must for maintaining stability in a business. The principles and practices supporting financial accounting are presented in this course.

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SESSION II: Cost Analysis Principles and Strategic Financial Issues

May T.B.D. | 9 A.M. to 12 Noon
The Ware Center, 42 N. Prince Street, Lancaster PA

Moderator: David Kreider, CPA, CGMA, President, Central PA HFMA
Title: Senior Controller
Affiliation: Wellspan Health

• Cost Analysis Principles
  Cost reduction is a central goal in healthcare reform and cost analysis a critical activity in healthcare organizations. Yet cost analysis is not simply identifying cost. Used appropriately, it assists managers in making decisions in areas like pricing, revenue planning, setting standard costs, capital investment and marketing decisions.
  
  
• Strategic Financial Issues
  In this course, we will link the use of financial statements, management of costs, and price setting to the strategic planning and objective-setting process of managing a healthcare business. These elements apply whether the type of healthcare business is a hospital, health plan, or physician clinic.

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SESSION III: Managing Financial Resources and Looking to the Future

June T.B.D. | 9 A.M. to 12 Noon
The Ware Center, 42 N. Prince Street, Lancaster PA

Moderator:  Joe Byorick
Title: Chief Financial Officer
Affiliation: Penn Medicine, Lancaster General Health

• Managing Financial Resources
  Financial resource management is the efficient deployment of fiscal resources. The challenge of meeting the demands of reform and a shifting business environment requires the allocation of financial resources in an effective and thoughtful manner.
  
  
• Looking to the Future
  Healthcare finance professionals are working in a rapidly evolving business environment. This last course explores the future of the industry and empowers the learner to plan for that future. Key business drivers, shifting reimbursement; finance-physician alignment; population health management as well as the power of data and business intelligence are addressed in this course.

The intent of the Operational Excellence exam is for you to exhibit your mastery of the information learned in Module I: HFMA’s Business of Health Care^®.

In Module II: Operational Excellence, you will apply that learning through your careful responses to case study challenges that comprise the exam. Healthcare professionals, regardless of professional practice specialty, must understand the new healthcare business dynamics and be able to respond appropriately.

The Operational Excellence exam includes several case studies, each of which presents a complex challenge and questions on how you would address those challenges. The challenges address issues related to the three stakeholder groups: payers, providers and physicians. Earning the CHFP provides you the information you need to address the dynamic healthcare business environment. 

To be eligible for the Module II program you must successfully complete the Business of Health Care^® - Module I course and exam.

Whether you are a clinician, physician, finance or health plan leader, nurse, therapist, dentist, or pharmacist, HFMA Business of Health Care^® was designed to give you an essential understanding of the complex ecosystem your day-to-day operations are part of. That understanding can help you use your knowledge and skills more effectively to improve patient care and health outcomes.

As important, it can enable you to contribute to the critical conversations and decision-making that are changing the industry and how you work in it.

Participants who successfully complete the six-course sequence and the final evaluation of knowledge may qualify to earn continuing education credits. All participants who meet the program’s requirement receive a course completion certificate—recognition they can use to advance in their career and demonstrate their commitment to excellence.

Credit

• American Council on Education (ACE) approved for 3 semester hours in healthcare budgeting and finance or healthcare reimbursement systems towards a baccalaureate/ associate degree.
• HFMA Business of Health Care^® has been approved for 13.5 hours of continuing education credits.
• CPAs: 13.5 hours of CPE in specialized knowledge and applications through NASBA.
• Physicians: 13.5 AMA PRA Category 1 Credit(s)TM.
• Nurses: 13.5 contact hours as continuing nursing education by ANCC.
• Pharmacists: 13.5 contact hours from the Accreditation Council for Pharmacy Education.
• Dentists: 13.5 continuing education credits from ADA Continuing Education Recognition Program (ADA CERP)

Individual Cost $399 Includes:

1. Access to HFMA online courses and the CHFP examination.
2. Three sessions at the Ware Center including course review, discussion, and Q&A.
3. CHFP Certification via the online exam.
4. Continuing Education credits based on your present License.  

CONTACT:

Hope M. Schmids - Director, Continuing Education & Workforce Development
Email: Hope.Schmids@millersville.edu
Phone: 717-871-7642