CHFP, HFMA Certified Healthcare Financial Professional (CHFP) exam
will create the path for advanced level study which will enlighten the career
of the professionals in many ways, the major thing for any certification is its
syllabus so special care should be given by the candidates with the help of
studying resources which includes the PDF files, study guides and dumps along
with professional trainings and dumps which can be made available over the web.
The exam descriptive that play
a very significant part in helping the candidates become professionals is been
given here which is updated and very genuine.
The first section is called
revenues sales functions that cover the CHFP,
HFMA Certified Healthcare Financial Professional (CHFP) exam almost twenty
one to twenty five percent under which the topics given are Data
collection such as demographic,
financial, clinical, authorization, verification, Charge capture and recording
of clinical events, Clinical documentation and coding clinical quality
standards, Bill generation underlying applications, claim scrubber, Accounts
receivable posting, cash, contractual, denial management, write-offs,
Collections/reimbursement and Payer payment audits post, concurrent.
The second section covers about four to eight
percent in the CHFP,
HFMA Certified Healthcare Financial Professional (CHFP) exam which is named
as disbursement functions that consists of Payroll, Regulatory data collection employee/independent
contractor financial data collection, Workload data collection such as hours,
overtime, sick time, vacation time, exemptions Purchasing, Creation of
requisition/P.O./check request, Authorization, Procurement,
Verification/Approval and Payment processing/posting.
The third section is called
budgeting and forecasting functions that cover eighteen to twenty two percent
in the exam that includes the objectives of Data collection and analysis such
as historical, volume, revenues, expenditures, Projection such as revenue,
volume, expense, Capital planning such as needs assessment, building and
equipment, Cash flow, Budget analysis and monitoring, Financing options
analysis such as tax-exempt, lease/purchase.
The CHFP, HFMA Certified Healthcare Financial Professional (CHFP) exam
fourth section is called internal control functions in which applicants get to
answer questions that are about fifteen to nineteen percent and includes the
objectives of Controls, Segregation of duties, such as HIPAA, EMTALA, PHI,
Stark, Sarbanes-Oxley, Billing compliance and Information technology system
validation.
The fifth section is called
financial reporting functions that cover sixteen to twenty percent in the exam
which consists of Preparation of financial statements such as GAAP, non-GAAP,
period-end closing, Governmental reporting such as cost reporting, IRS
reporting, Medicare/Medicaid, Internal management reporting such as cost
accounting, productivity analysis, benchmarking, departmental analysis, Ratio analysis
such as days in accounts receivable, days in accounts payable, cash on hand.
Almost seventeen percent in
the exam is covered by contract management functions where the applicants need
to monitor contracts to ensure performance compliance such as physician, payer,
maintenance, vendor, group purchase organizations and purchasing.
CHFP, HFMA Certified Healthcare Financial Professional (CHFP) exam
will help you in becoming more of the advanced level professional which you
dream of becoming for this exam, eligibility; you need to keep being an active
HFMA member in good credit rating, you have to finish ninety hours every three
years in the educational programs, also the candidates should complete half of
these hours in learning and understanding of the topics that are related to
health care finance.
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