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Passing the CHFP (Certified Healthcare Financial Professional) exam requires adequate preparation and understanding of the exam objectives. The CHFP exam is designed to test the knowledge and skills of individuals in the healthcare financial management field. The exam covers various topics that are essential for healthcare financial professionals to perform their job responsibilities effectively. In this article, we will provide an overview of the CHFP exam, including exam objectives, exam details, and related books that can help candidates prepare for the exam.
Exam Objectives:
- Understanding the healthcare industry and its financial environment
- Financial reporting and analysis in healthcare organizations
- Strategic financial management in healthcare organizations
- Revenue cycle management
- Compliance and risk management in healthcare organizations
- Healthcare laws, regulations, and ethics
The CHFP exam is suitable for individuals who have experience in the healthcare financial management field. The exam is designed to assess the knowledge and skills required for financial management roles in healthcare organizations. The exam is intended for professionals who hold positions such as CFO, VP of Finance, Controller, Director of Finance, Financial Analyst, and Manager of Financial Planning and Analysis.
There are no specific prerequisites or qualifications for taking the CHFP exam. However, candidates are recommended to have a minimum of two years of experience in healthcare financial management or a related field.
Related Books:
The following books can help candidates prepare for the CHFP exam:
- Healthcare Finance: An Introduction to Accounting and Financial Management, Fifth Edition by Louis C. Gapenski
- Healthcare Finance: Basic Tools for Nonfinancial Managers, Fifth Edition by Judith J. Baker and R.W. Baker
- Essentials of Healthcare Finance, Eighth Edition by William O. Cleverley, James O. Cleverley, and Paula H. Song
- Healthcare Financial Management: Introduction to Accounting and Financial Management, Sixth Edition by Louis C. Gapenski and Kristin L. Reiter
Exam Details:
The CHFP exam is administered by the Healthcare Financial Management Association (HFMA). The exam consists of 115 multiple-choice questions and is delivered online. The exam must be completed within four hours. The passing score for the exam is 70%. The cost of the exam varies depending on membership status and other factors, but it typically ranges from $300 to $500.
In conclusion, passing the CHFP exam requires preparation and understanding of the exam objectives. Candidates should have experience in healthcare financial management and should consider using related books to prepare for the exam. The exam is administered online, consists of 115 multiple-choice questions, and must be completed within four hours. The passing score is 70%, and the cost of the exam varies depending on membership status and other factors.
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