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PMPM * Enrollees = (Enrollees * Utilization rate + total variable cost) + monthly fixed cost (Where PMPM is per Member per Month)
The formula to calculate basic break-even equation is:
Price * Volume = Fixed cost + (variable cost per unit * volume)
Price + Volume = Fixed cost + (variable cost per unit + volume)
Price * Volume = variable cost + (variable cost per unit / volume)
Price - Volume = Fixed cost + (variable cost per unit + volume)
The break-even equation modified to include desired profit is:
Price + Volume = Fixed cost + (variable cost per unit + volume) * Desired profit
Price * Volume = Fixed cost + (variable cost per unit * volume) + Desired profit
Price * Volume = variable cost + (variable cost per unit / volume) + Desired profit
Price - Volume = Fixed cost + (variable cost per unit + volume) * Desired profit
An accounting method that tracks when cash was received and when cash was expended, regardless of when services were provided or resources were used is called:
Cash recording accounting
Accounting cash flows
Cash statement of operations
Cash basis of accounting
An accounting method that records revenues when earned and resources when used, regardless of cash in or out of the organization is called:
Accrual basis of accounting
Modified statement of operations
Cash basis of accounting
Which of the following is NOT the disadvantage of accrual basis of accounting?
keeps track of revenues generated and resources used as well as cash flows
open to manipulation, by bending accounting rules
matches revenues with the resources used to generate those revenuers
the financial statements provide a broader picture of the provider’s operation
The rules to record a transaction under the accrual basis of accounting includes:
At least one account must be used to record a transaction.
After each transaction, the fundamental accounting equation must be balanced.
Both A & B
Neither A nor B
Under accrual basis of accounting, revenues are recognized when earned.
An asset that, when increased, decreases the value of a related asset on the books is called:
is the contra-asset to properties and equipment and the allowance for uncollectable, which is the contra-asset to accounts receivables.
To find the book value of the fixed asset, the accumulated depreciation is added in the amount of properties and equipment.
Which represents the assets, liabilities and net assets for a health care provider?
Statement of cash flows
What represents the difference between unrestricted revenues, gains and other support and expenses?
Unrestricted net assets
Statement of Operations
What represents the costs that are incurred in the day to day operation of the business?
Permanent restricted net assets
Statement of cash flows
What provides information about how much revenue was generated and the amount of resources used to generate those resources?
Statement of operations
Statement of cash flows
Statement of changes in net assets
None of the above
Financial CHFP Exam (Certified Healthcare Financial Professional(R) (CHFP)) Detailed Information
HFMA's Certified Healthcare Financial Professional (CHFP)
The CHFP program has been updated to provide the broad range of business and financial skills essential for succeeding in today's high-value healthcare environment:
Understanding future trends
The new CHFP is geared toward financial professionals, clinical and nonclinical leaders, and payers – all those whose jobs require a deep understanding of the new financial realities of health care. The new CHFP program includes two modules (both modules must be successfully completed to earn the CHFP):
Register now for Module I of the CHFP program: HFMA's Business of Health Care online program.
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.
Register now for Module II of the CHFP Program: HFMA's Operational Excellence exam.
HFMA's Operational Excellence exam - Exercises and case studies on the application of business acumen in health care.
Earning the CHFP
The CHFP credential is awarded upon successful completion of module 1 end of course assessment and successful completion of module II exam (case study exercises). HFMA membership is required.
Frequently Asked Questions - Additional CHFP program information can be found in the CHFP FAQ document.
HFMA National Webinar Recording
Why HFMA’s Certified Healthcare Financial Professional (CHFP) Certification is Right for You - The webinar discussion examines the specific knowledge areas and professional skills that are hallmarks of the profession - learn how earning HFMA’s CHFP certification is one of the savviest business moves you’ll ever make. (Recorded Webinar Pricing for HFMA members and non-members: Free)
Certified Healthcare Financial Professional (CHFP)
HFMA's CHFP certification provides a broad range of business and financial skills necessary to succeed in today's healthcare environment. LEARN MORE.
Certified Revenue Cycle Representative (CRCR)
Earn the credentials that prove your revenue cycle proficiency and technical expertise. Learn more.
Maintaining Your Certification
If you have already earned an HFMA Certification, you must maintain your certification by meeting certain basic requirements. Learn more.
CHFP Certified Healthcare Financial Professional(R) (CHFP)
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Certified Healthcare Financial Professional(R) (CHFP) exam
Cerner Executives Earn Board Certification in fitness Care management | CHFP Real Questions and VCE Practice Test
KANSAS metropolis, Mar 04, 2019 (GLOBE NEWSWIRE via COMTEX) -- KANSAS city, Mo., March 04, 2019 (GLOBE NEWSWIRE) -- Cerner, a world leader in fitness care technology, introduced that 15 of its associates lately earned the big difference of board certification in fitness care management as Fellows of the American school of Healthcare Executives (FACHE [(R)] ). The American college of Healthcare Executives (anguish) is one of the main skilled societies for fitness care leaders in the nation. The Cerner buddies had been recognized at the Convocation Ceremony at the ache 2019 Congress on Healthcare management in Chicago.
"in the course of the certification procedure, our acquaintances profit a more advantageous knowing of the challenges and opportunities our purchasers are dealing with in brand new health care landscape," talked about Joanne Burns, senior vice president and chief method officer, Cerner. "Cerner values continuing education and professional building and this year, i used to be proud to join my colleagues in earning the title of agony Fellow. because the health care business evolves, continuing education for associates is a priority in preparing our customers for the future of affected person care."
The FACHE credential represents excessive achievement and necessities of professional development. In total, Cerner has fifty two executives who have been named Fellows of discomfort.
To earn the FACHE credential, candidates have to fulfill numerous necessities, including assembly educational and experiential criteria, incomes continuing education credit, demonstrating professional and group involvement and passing a comprehensive examination. Fellows are additionally committed to ongoing professional construction and are required to endure recertification every three years.
"The health care management field plays a vital role in presenting high-quality care to the individuals in our communities, which makes having a typical of excellence promoted by means of knowledgeable company significantly critical," says Deborah J. Bowen, FACHE, CAE, president and CEO, pain. "with the aid of fitting an anguish Fellow and incomes the big difference of board certification from discomfort, fitness care leaders exhibit a commitment to excellence in serving their patients and the community."
The 2019 type of Cerner executives who earned the FACHE credential includes:
Bryan Bliven, MBA, vp
Don Bisbee, MBA, senior vice president
Joanne Burns, RN, MPA, FHIMSS, senior vp and chief strategy officer
Ashley Crosby Davidson, MS, vp
Dick Flanigan, MAS, CFCHE, senior vp
Julie Galle, MHA, director
Eric Geis, MBA, vice president
Chris Jennings, MS, director
Ami Jobanputra, MHA, MA, client in charge govt
Justen McKee, MBA, senior director
Cindy Quackenbush, MBA, BSN, RN, senior regional medical executive
Jason Rawlings, MBA, vp
Dan Schipfer, MBA, vp and accepted supervisor
Michael Wolff, MBA, senior director
Lance Zeli, PHRN, MBA, senior director and nursing govt
Cerner has been a Premier company partner of the ache given that 2015. For more information involving the FACHE credential, please visit pain.org/FACHE.
concerning the American school of Healthcare ExecutivesThe American faculty of Healthcare Executives is a world professional society of 40,000 health care executives who lead hospitals, fitness care systems and different health care companies. soreness's mission is to develop its members and fitness care administration excellence. anguish offers its prestigious FACHE(R) credential, signifying board certification in health care management. pain's dependent community of 78 chapters gives access to networking, schooling and career development at the local stage. additionally, pain is normal for its magazine, Healthcare government, and its profession construction and public coverage courses. through such efforts, pain works toward its vision of being the pre-eminent knowledgeable society for health care leaders dedicated to enhancing fitness. The foundation of the American college of Healthcare Executives become centered to further boost healthcare administration excellence via schooling and analysis.
The foundation of discomfort is known for its tutorial courses--together with the annual Congress on Healthcare leadership, which attracts more than four,000 participants--and groundbreaking research. Its publishing division, health Administration Press, is among the largest publishers of books and journals on health capabilities management, including textbooks for faculty and school courses. For extra assistance, discuss with www.discomfort.org.
About CernerCerner's fitness technologies connect individuals and counsel systems at greater than 27,500 contracted provider amenities worldwide dedicated to creating smarter and more suitable care for people and communities. diagnosed globally for innovation, Cerner assists clinicians in making care selections and assists agencies in managing the fitness of their populations. The business also presents an integrated scientific and economic programs to assist manipulate day-to-day earnings features, as well as a wide array of functions to support clinical, economic and operational needs, focused on americans. For more suggestions, visit???Cerner.com,???The Cerner weblog,???The Cerner Podcast???or connect on???facebook, Instagram, LinkedIn???or Twitter. Nasdaq: CERN.???Smarter Care. more advantageous effects. healthier You.
CernerAnamarie Rebori Simmons, Public relations, (816) 506-0992, firstname.lastname@example.org
(C) Copyright 2019 GlobeNewswire, Inc. All rights reserved.
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