Q: What are the benefits of becoming a Certified Healthcare Financial Professional (CHFP) or Fellow of the Healthcare Financial Management Association (FHFMA)?
A: CHFPs and FHFMAs are more likely to be considered qualified for higher-level positions in the healthcare finance industry. In addition, certified professionals are generally viewed in a more favorable light for advancement and job retention during downsizing situations.
Certified Healthcare Financial Professional (CHFP) Program
Q: What are the requirements for becoming a CHFP?
A: To become a CHFP, you must be a HFMA member for a total of two years; receive passing scores on the HFMA Core certification exam and one specialty exam; have completed a minimum of 60 semester hours at an accredited college or university or meet an education equivalent; earn 40 Founders Award points; provide favorable references; and have two years of healthcare or financial management experience. An application must be submitted, and there is not a processing fee. There is however a fee associated with taking the certification exams.
Q: If I passed both exams, do I need to apply for certification?
A: Yes. Successfully completing the exams is only one the requirement to be certified. You must complete all other requirements and submit an application. The CHFP application is available at:
http://www.hfma.org/careers/certification_program/HFMA_certification/HFMA_application.htm
Certification Exam Preparation Resources
Q: I’m interested in taking the CHFP exam. What resources are available to prepare for the exam?
A: A self-study course has been written specifically to prepare you for each of the exams. An on-line version of the courses is also available. The certification exam questions are based on content covered in these courses. Also, HFMA National offers coaching/review courses at ANI. Chapter resources for exam preparation vary by chapter and may include a locally sponsored coaching course, sponsorship programs and shared library resources. Check with your chapter for more information resources available locally.
Q: How can I order the courses?
A: Both the print and the e-learning version can be ordered off of the HFMA website.
Print courses can be ordered at: http://www.hfma.org/careers/certification_program/HFMA_certification/self_study_aids.htm
The Core course costs $295 and the specialty courses are $275 each, excluding shipping/handling and tax, if applicable.
E-learning courses can be ordered at:
https://commerce.webinservice.com/hfmacommerce/showProduct.asp?type=1&opt=A1
The Core course costs $199 and the specialty courses are $169 each, excluding tax, if applicable. You will have access to these lessons for six months after the date of purchase.
Q: Will I receive CPE for completing the self-study courses?
A: The print Self-study courses are CPE eligible based on the National Association of State Boards of Accountancy (NASBA) standards. The Core program is eligible for 10 CPE credits and each of the specialty courses are eligible for 8 CPE credits if all requirements are met as specified in the course. Please be advised that the CPE requirements may differ by jurisdiction and the candidate is responsible for consulting with their reporting jurisdiction.
The e-learning version of these courses is NOT currently CPE eligible.
Q: What is the best way to prepare for the exams?
A: Become familiar with the content covered on the exam by completing the corresponding self-study course for the exam that you will be taking. Read the objectives at the beginning of each chapter. They define what you should know as a result of completing the chapter and its activities. Complete the review activities at the end of each chapter and the end-of course test to assess how well you know the content covered in the course. Allocate your review time for the chapters according to the percentage of test questions on the exam that will come from that chapter. The exam questions are allocated as listed in the chart at:
http://www.hfma.org/careers/certification_program/HFMA_certification/exam_content.htm
Find others who will be taking the exam and study together. Check with your local chapter if any such study groups have been set up.
Q: Where and how is the CHFP exam administered?
A: HFMA’s exams are administered via the Internet. They are administered locally at chapter-designated sites and are proctored by an approved, certified HFMA member. Approved proctors and exam dates/locations are listed at:
http://www.hfma.org/careers/certification_program/HFMA_certification/exam_dates_sites.htm
The exams are also available with advance registration at the Annual National Institute (ANI).
Q: How do I sign up for an exam?
A: When you are ready to take the exam, contact an approved proctor in your geographic area and establish a mutually agreeable date. An application for the exam must be submitted at least 10 days in advance of the scheduled exam date and include the name of the proctor, the scheduled date of the exam, and the appropriate fee. There is a $100 fee for the Core exam and $70 for each specialty exam. You must complete the exam within one year of submitting the application.
An on-line exam application form is available at:
https://www.hfma.org/careers/certification_program/HFMA_certification/exam_application.htm
Q: How do I know that HFMA has received my application and I am scheduled to take the exam as requested on the application?
A: You will know that your exam application has been processed and you are approved to take the exam when you receive an e-mail containing the password needed to access the exam. Your proctor is also issued a password.
Q: Do I need to take both exams at the same time?
A: No. It doesn’t matter when or in what sequence you complete the Core and one of the specialty exams, as long as both are successfully completed within two years of taking the first exam. If you chose, you may complete the exams on the same day, two different days, the Core exam first or the specialty exam first. Your level of preparedness should drive when you complete the exams.
Q: When will I know if I successfully completed an exam?
A: You receive your results immediately after submitting your response to the last set of questions on the exam. You will be provided your overall score only. You will NOT receive detail on how you performed on individual questions or sections of the exam.
Q: What happens if I do not successfully complete an exam?
A: You must wait 90 days to retake the exam and then complete the same application process you completed originally, including paying the appropriate fee. If necessary, you can continue to retake the exam until you successfully complete it as long as you successfully complete the exam within two years of taking the exam for the first time and prior to the expiration date of the self-study program materials.
Q: I know I must pass the Core exam and one Specialty exam to be certified. What happens if I pass only one of the exams?
A: Your will be in a “conditioned” status, meaning you will not have to retake the exam you have successfully complete. Assuming all other requirements for certification have been met, the exam that you must retake must be successfully completed within two years from taking the first exam in ordered to attain the CHFP designation.
Q: I was just notified that I passed the exams and fulfilled all other requirements to become a CHFP. When will I receive my certificate?
Because applications are batch processed and are signed by various individuals, certificates are typically sent to the chapters for distribution about every six to eight weeks. Depending on when your application falls into the batch processing cycle, your application may be processed as soon as three weeks or may take as long as six weeks. Please be advised that HFMA National does not mail certificates directly to the newly certified member. They are sent to the chapter president for distribution.
Q: What are the requirements for becoming a FHFMA?
A: To become an FHFMA, you must be a member of HFMA for at least a total of five years; hold the CHFP designation; have a bachelor’s degree; earn 200 Founder’s Award points, and provide a favorable reference.
Q: I’ve been a CHFP and am interested in becoming a fellow. What do I need to do?
A: First, determine if you have met all of the requirements for becoming a Fellow. If you have, submit an application with the $100 processing fee. This application is available at:
http://www.hfma.org/careers/certification_program/HFMA_application.htm
HFMA National reviews the application to ensure all requirements have been met. Applicants not meeting the requirement will be refunded the $100 processing fee.
Q: Once I earn my CHFP or FHFMA designation, will I retain this designation for the rest of my life?
A. No. You will retain the designation as long as you remain an active member of HFMA and meet professional development maintenance requirements every three years after earning the designation. The requirements include a total of 40 Founders and/or Parallel Activity points. You must then submit an application with your signature. The application is available at:
http://www.hfma.org/careers/certification_program/certification_form.htm
Q: Exactly what are Founders and Parallel Activities?
A. Founders Activities are those sponsored by HFMA National or at the local level and include chapter meetings, chapter officer positions, HFMA seminars and teleconferences, or chapter-sponsored educational events. Parallel activities are educational activities sponsored by organizational other than HFMA and may include AICPA classes, MGMA classes, etc.
A listing of eligible Parallel activities is available on the HFMA Web site:
http://www.hfma.org/careers/certification_program/certification_form.htm
A listing of eligible Founders activities is available at:
http://www.hfma.org/chapters/chapter_leader_resources/chapter_leader_tools/foundersbooklet.pdf.
Other Career Services Programs
Q: What other Career Service programs are available to HFMA members?
A: A Nationwide employment opportunity database (Exec-u-Trak) is available exclusively to HFMA members. For information about this program, contact Dave Kosteva at NDI Services: mailto:info@ndi-services.com or 810-348-8040.
HFMA also offers a Professional Assessment Program for you to assess your strengths and opportunity areas, adjust developmental goals, and define your career plan. For information about this program, contact Hal Patterson at Pattterson Enterprises, LTD: pattersonenterprises@comcast.net or 303-692-9588.
Additionally, HFMA offers numerous programs throughout the year including seminars, conferences, audio teleconference and e-learning lessons. More information is available about these programs on the HFMA website:
http://www.hfma.org/education/national_education_calendar.htm
Q: Whom should I contact for more information about the HFMA Certification Program?
A: Start out on the HFMA web page. http://www.hfma.org/careers/certification_program/index.htm
Contact a member of the HFMA National Career Services team:
· Bernadette Clark, Certification Associate at 1-800-252-4362, X311 or bcclark@hfma.org
· Elaine Mrzlak, Career Services Manager at 1-800-252-4362, X336 or emrzlak@hfma.org
Call your local chapter certification contact person. |
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