CHFP, HFMA Certified Healthcare Financial Professional Tools

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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