ABOUT: The Certified Healthcare Financial Professional (CHFP)® certification is designed for financial professionals, clinical and nonclinical leaders, and payers who need a comprehensive understanding of healthcare finance. This certification signifies expertise in financial strategy, business acumen, collaboration, and future trends in healthcare finance.
CERTIFICATION BODY: Healthcare Financial Management Association (HFMA)
LEARNING OBJECTIVE:
- Business Acumen: Understand healthcare finance, budgeting, forecasting, and cost control.
- Collaboration: Develop skills to work with clinical and nonclinical leaders on financial strategies.
- Financial Strategy: Formulate strategies for evolving payment models and risk management.
- Future Trends: Analyze emerging trends like value-based care and financial technology advancements.
EXAM INFORMATION:
- Format: Online Exam
- Number of Questions: 75 multiple-choice questions
- Duration: 90 minutes
- Passing Score: 70%
RE CERTIFICATION:
- Renewal Period: Every 2 years
- Renewal Requirements: Re-examination is required for renewal. Continuing Education Units (CEUs) and Continuing Professional Development (CPD) are not accepted for renewal.
For More Information
Curriculum
- 2 Sections
- 9 Lessons
- 40 Hours
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- BUSINESS OF HEALTH CARE:6
- 1.1Healthcare Finance Overview: Basics of healthcare finance, financial statements, and performance indicators.
- 1.2Risk Mitigation: Methods for financial risk assessment and management.
- 1.3Evolving Payment Models: Overview of payment models such as fee-for-service and value-based purchasing.
- 1.4Healthcare Accounting and Cost Analysis: Accounting principles, budgeting, and financial reporting specific to healthcare.
- 1.5Strategic Finance: Financial forecasting, investment analysis, and capital budgeting techniques.
- 1.6Managing Financial Resources: Cash flow management, investment strategies, and resource allocation.
- OPERATIONAL EXCELLENCE:3
- 2.1Application of Business Acumen: Practical exercises and case studies in healthcare finance.
- 2.2Case Studies: Analysis of real-world scenarios to improve decision-making and operational efficiency.
- 2.3Operational Excellence Assessment: Evaluation of the application of financial strategies and problem-solving skills.
Requirements
- Education Requirement: More than two years of post-secondary education is required.
- Work Experience: More than two years of relevant work experience is required.
- Oral or Written Exam: Written exam required.
Target audiences
- Financial professionals
- Clinical and nonclinical leaders
- Payers
- Individuals with a deep understanding of healthcare finance and relevant experience