Georgia Chapter HFMA Strategic Plan

Georgia Chapter Healthcare Financial Management Association Strategic Plan

Three year period ending Fiscal 2012

Click here to download the entire 2010 - 2012 Strategic Plan in pdf format.

Strategic Planning Committee Members:

I. Executive Summary

Overview

The Georgia Chapter of HFMA continues to be a National leader in terms of excellence and innovativeness in delivering value to the members. Chapter performance will continue to depend on the hard work and dedication of its volunteers. The goal for this year’s leadership is to continue the long-standing tradition of excellence in all services provided by the Chapter with a focus on providing quality education with industry recognized speakers at the quarterly Institutes, and continue to move the state-wide workshop education to a regional focus in hospital settings in the most economically efficient manner.

The Georgia Chapter will develop marketing and recruitment plans to attract “future HFMA members” from non-hospital settings in the healthcare industry, especially the student market since this group is the leadership of tomorrow. This effort falls directly in line with the chapter’s Vision of being the “professional resource of choice for the healthcare financial management industry in the state of Georgia.”

The Georgia Chapter will put plans in place to increase participation of all members (provider and non-provider), in addition to the recruitment of new members from the provider community, academic community and the partnership/supplier community.

With the above issues in mind the Chapter leadership will dedicate itself to focus on and deliver:

• Affordable and timely education provided in convenient venues
• Varied educational formats
• Continual TEAMS recruitment with an emphasis on providers in leadership roles
• 5% net return on gross revenue target
• Dashboard reporting to monitor critical chapter trends
• Maintain cash reserve target and investments according to policy
• Innovative use of technology to add greater value and access for our members
• Continued outreach efforts toward student memberships and involvement
• Initiate relationship building processes with other healthcare related disciplines, i.e., other provider organizations as well as other professional organizations
• Definitive goals for multi-Chapter events and services
• Ensure a viable Corporate Sponsorship Program through a partnership approach with sponsoring organizations and Provider Sponsorship level
• Online testing for Financial Counselor certification
  

II. Chapter Assessment

The Georgia Chapter of HFMA continues to be successful in pursuit of its vision “to be the professional resource of choice for the healthcare financial industry in Georgia”. This years National Theme, Making it COUNT!, tells us that we must make take advantage of the opportunities presented to us to keep the Chapter moving forward. Our theme for this year, LEADing the Way, is directly tied to the National Theme emphasizing that whether it is for obtaining education or networking, we need to work this upcoming year to Learn, Engage, Achieve, and Develop ourselves as well as others in our chapter to keep ourselves and the Chapter moving forward.

A. External Assessment

This updated Chapter Strategic Plan was driven primarily by the rapid social, political and technical changes in the healthcare industry and society at large. We held a strategic planning session just prior to our fall institute in Savannah. The designated Strategic Planning Committee was made up of current and future leaders of the Chapter. The individuals that participated provided valuable feedback and built on the direction from last year for the Chapter’s current leaders. This Plan is a result of these strategic planning sessions combined with an analysis of survey data from Chapter members and benchmark survey results as compared to other Chapters, as well as considerable feedback from our key constituencies. The following summarizes the key concerns reflective of the survey data results as well as the current environmental observations impacting Georgia HFMA. Focused resources to address these issues will be required to ensure long-term Chapter viability.

The Strategic Plan, which follows, outlines our guiding principles, businesses, customers, and strategic direction.

Key concerns:

• Increasing time demands of Chapter members.
• Decreasing financial/budgetary support by members’ employers due to economy.
• Ability to grow and integrate new members into Chapter activities.
• Competing educational forums for senior financial leaders.
• Maintaining a viable Corporate Sponsorship Program that provides acknowledgement, value and member exposure resulting in increased return on
  investment for our corporate sponsors.
• Partnering with “sister” professional organizations to provide varied educational topics that support both organizations.

Impact on Georgia HFMA:

• Time constraints brought on by work and other individual demands impact our members’ ability to participate fully in Chapter educational events. Chapter educational offerings must be cost and time justifiable, as well as provide valuable networking opportunities.
• Employers must be continually informed of the value afforded by HFMA membership and participation through publication of workshops, Institutes and forums activities, along with Chapter efforts to support federal and state proaction.
• The chapter must work to attract and retain membership from the younger generations – both student and regular members.
• First year and at-risk members must be educated about the benefits of involvement and mentored to fully participate in Chapter activities including volunteering. Each new member should be extended an invitation and encouraged to participate in TEAMS. Additional education should be provided to these members regarding Chapter structure and decision making beyond the basic overview of member benefits.
• Options provided by rapidly changing technology should be explored to provide alternative educational formats for our members…more affordable…more flexible…more timely.
• Corporate sponsors are being forced to choose between different sponsorship opportunities, and as a result, they are demanding additional exposure for their products and services in order to maximize their return on investment. Corporate sponsorship value must be continually demonstrated.

B. Internal Assessment

The following discussion is included in this section:

• Vision
• Purpose
• Core Values
• Businesses
• Customers
• Critical Goals
• Strategies
• Measures of Success

VISION

HFMA Georgia Chapter’s vision is:
“To be the professional resource of choice for the healthcare financial industry in Georgia.”

PURPOSE

HFMA Georgia Chapter’s purpose is:
“To promote personal and professional development and to provide education, information,
networking and leadership to allow members to excel in healthcare financial management.”

CORE VALUES

• ETHICS – Above reproach – second to none
• SERVICE – Service to our members is first and foremost.
• INDIVIDUALS – Individuals are our most important assets.
• EXCELLENCE – Excellence is our standard.
• TEAMWORK – Teamwork is essential to our success.
• INNOVATION AND CREATIVITY – Innovation and creativity must be encouraged.
• FISCAL RESPONSIBILITY – Fiscal responsibility is a necessity.
• LEADERSHIP – Leadership must be continuously developed.

BUSINESSES

HFMA Georgia Chapter’s core businesses include:

• Education and training
• Networking
• Facilitating the communication and cooperation between providers, payers, government entities, and related associations
• Assisting members in adapting to change
• Professional development and certification
• Sharing knowledge of new products and services
• Facilitating the communication and cooperation between all HFMA Chapter within Region Five.

CUSTOMERS

HFMA Georgia Chapter’s customers are Health Systems and Hospitals, managed care
organizations, and business partners of these organizations.

III. Chapter Goals and Objectives

CRITICAL GOALS

Georgia HFMA will focus our resources and efforts to:

• Goal 1: Determine and Pursue “Future Membership”
• Marketing Plan
• Outreach Plan
• Educational sessions for new target audience
• Goal 2: Promote Participation
• Sell the “return on investment” to non-participating members
• Participation Plan to reach out to provider members
• Recruitment Plan to attract non-members
• Goal 3:Provide Quality Education
• Affordable, timely education using multiple delivery methods
• Education relevant to day-to-day operations
• Clear educational tracks with recognized speakers
• Multi Chapter workshops to areas bordering Georgia
• Collaboration with other organizations
• Goal 4: Maintain Financial Resources
• 5% net return on gross revenue
• Maintain cash reserves and invest according to policy
• Continue to use automation and technology to reduce costs and add value to our members
• Addition of a financial advisor who has a CPA and has held the treasurer position to assist the current Treasurer

STRATEGIES

In order to accomplish these goals, several strategic imperatives must be pursued.

• Strategy 1: Educational Content
  The Georgia Chapter will continue its educational efforts by reviewing the results of the latest chapter survey for topics of interest. The Forums Council will concentrate on Revenue Cycle (including Access Management) and Senior Financial Executive topics and hold workshops, while the Quarterly Institutes (which roll directly under the Program Chair) will provide at least three tracks of education (Revenue Cycle (Access and Receivables Management), Financial Executive, and Professional Development). Current topics as well as recognized National speakers will be a goal of all education sessions.
• Strategy 2: Educational Venues
  The Georgia Chapter will continue to expand educational venues to include traditional classroom education and the utilization of webinar technology. Webinars will be used both for regular workshop education as well as certification class education. The Chapter will hold workshop sessions in both the Northern and Southern parts of the state to enable more individuals to attend while minimizing travel time. Members from neighboring state chapters will also be invited to those workshops that are close to the state borders.
• Strategy 3: Future Membership
  The Georgia Chapter will target future members through the development of a Marketing Plan and an Outreach Plan approved by the Board of Directors. The Public Relations Committee & the Outreach Committee will develop these plans as part of their annual deliverables. The Organizational Outreach Committee will focus on membership relationships and recruitment from non-hospital providers such as home health, skilled nursing, and durable medical equipment and other professional associations such as the Georgia Society of Managed Care, the Georgia Admitting Managers Association, and the Georgia Health Information Management Association, while continuing its partnership with colleges and universities. The Student Outreach Committee will focus on partnering with colleges and universities as well as maintaining a chapter page on Facebook, LinkedIn and possibly setting up Myspace to get information out to younger potential members.
• Strategy 4: Corporate Sponsors
  The Georgia Chapter will continue to explore various means to expand the marketing opportunities that are provided as a benefit of corporate sponsorship. The Georgia Chapter will solicit feedback from corporate sponsors via special surveys and open forum sessions with the sponsors. The Georgia Chapter will continue the new Provider Sponsorship level to recognize providers.
• Strategy 5: Value Awareness (ROI)
  The Georgia Chapter will develop and market information specifically addressing the value of membership in our organization and disseminate this information to members, nonmembers, employer organizations, and universities and colleges. A value proposition letter to existing members will be distributed.
• Strategy 6: Provider Participation
  The Georgia Chapter will develop a Recruitment Plan and a Participation Plan to target increased participation by members & non-members from the provider community. The Recruitment Committee and the Retention Committee will be responsible for implementing these plans which will include personal contact with potential provider members and current members who are not members or who are not actively participating.

MEASURES OF SUCCESS

Assessing progress toward our Chapter goals will be measured using a Balanced Scorecard. The National Scorecard Metrics and minimum thresholds to be used are:

• Education
• Registrant Hours per Member - 13.50 hours or .5% increase over prior year
• Membership
• Maintain current count – 1,270 as of May 1
• Member Satisfaction
• >= 49% Satisfied or Very Satisfied
• Certification
• >= 2 certification exams taken over prior year
• Seamless System of Service
• 2 out of 14 items – Strategic Plan and Membership Directory
• Days Cash on Hand
• Target range between 150 – 600 days
• DCMS Timely Reporting
• 100% on-time reporting of Chapter Requirements
• 100% on-time reporting of Chapter Education Events
• >= 1 newsletter reported each quarter
• Chapter Goal Achievement
• 100% of chapter goals

The threshold performance level for 2009-10 increased from 40 points to 50 points. Georgia Chapter goals were set the same as National The Georgia Chapter will set stretch goals as well. Below are some, but not all of the measures to be used on the Chapter’s own scorecard:

• Financial
• Return on revenue
• Dashboard reporting with a 5 year history
• Event attendance
• Registrant hours
• Educational hours per member o Corporate Sponsorship Program support
• Service/Product Delivery
• Quantity and topics of workshops
• Recognized speakers at Institutes
• Chapter website activity
• Webinar offerings and utilization
• Online testing for CPAR and Financial Counselor certifications
• Implementation of Multi Chapter workshops to areas bordering Georgia
• Customers
• Number of members (overall growth)
• Member retention
• Member survey results
• Corporate Sponsor exposure
• Increased participation of provider members in leadership roles
• Number of newly certified members
• Number of certification exams passed
• Number of certification exams taken