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Alabama Chapter HFMA Strategic Plan

Three year period ending Fiscal 2008

OFFICERS & BOARD OF DIRECTORS

Click here to Download the Entire Strategic Plan (180k PDF document)

Executive Summary

Overview

The Alabama Chapter of HFMA continues to lead the nation 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 in a redesigned format with industry recognized speakers at the quarterly Institutes, and moving the state-wide workshop education to a regional focus in hospital settings, and utilizing webinar technology to allow more convenient, economical access.

The Alabama Chapter will develop marketing and recruitment plans to attract “future HFMA members” from non-hospital settings in the healthcare industry. 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 Alabama.”

The Alabama Chapter will put plans in place to increase the leadership participation of members from provider organizations, in addition to the recruitment of new members from the provider community.

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

  • Affordable and timely education
  • Convenient educational venues and times
  • 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., skilled nursing providers, Alabama Access Management Association, durable medical equipment providers, etc.
  • Definitive goals for multi-Chapter events and services
  • Ensure a viable Corporate Sponsorship Program through a partnership approach with sponsoring organizations

The Alabama Chapter of HFMA continues to be successful in pursuit of its vision “to be the professional resource of choice for the healthcare industry in Alabama”. As we celebrate our “50 th Anniversary”, the memories remind us of the value our chapter provides to its members and the healthcare industry. Our theme for this year – “50 Years of Sharing” – demonstrates our focus on education, networking, partnering, and friendships.

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. This year a special strategic planning session was held with Past Presidents of the Alabama Chapter. These individuals provided valuable feedback and direction to the chapter’s current leaders. This session was followed by a strategic planning meeting with a designated Strategic Planning Committee made up of current and future leaders of the chapter. 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. T he following summarizes the key concerns reflective of the survey data results as well as the current environmental observations impacting Alabama 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.
  • Ability to fully 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.

Impact on Alabama 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.
  • 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.

Strategic Plan

The following discussion is included in this section:

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

VISION

“To be the professional resource of choice for the healthcare financial industry in Alabama.”

PURPOSE

“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

  • 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

CUSTOMERS

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

CRITICAL GOALS

Alabama HFMA will focus our resources and efforts to:

  • Goal 1 :Provide Quality Education
  • Affordable, timely education using multiple delivery methods
  • Learning adaptable to day-to-day operations
  • Clear educational tracks with recognized speakers
  • Goal 2 : Determine and Pursue “Future Membership”
  • Marketing Plan
  • Outreach Plan
  • Educational sessions for new target audience
  • Goal 3 : PromoteParticipation
  • Sell the “return on investment” to non-participating members
  • Participation Plan to reach out to provider members
  • Recruitment Plan to attract non-members

STRATEGIES

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

  • Strategy 1:Educational Content

The Alabama Chapter will redesign its educational efforts by revamping promotional material, moving Institute formats to clear educational tracks, securing recognized speakers, and offering regional workshop education. The Education Council and the Forums Council will be responsible for implementing these changes.

  • Strategy 2:Educational Venues

The Alabama Chapter will expand educational venues from traditional classroom education to utilization of webinar technology. A Webinar Chairperson will be instituted to assist the development and utilization of this delivery method. The Webinar Chairperson will report to the Forums Council.

  • Strategy 3:Future Membership

The Alabama 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 Outreach Committee will focus on membership relationships and recruitment from non-hospital providers such as home health, skilled nursing, and durable medical equipment. while continuing its partnership with colleges and universities.

  • Strategy 4:Corporate Sponsors

The Alabama Chapter will continue to explore various means to expand the marketing opportunities that are provided as a benefit of corporate sponsorship. The Alabama Chapter will solicit feedback from corporate sponsors via special surveys and open forum sessions with the sponsors. The Corporate Sponsorship Steering Committee will be responsible for the development and oversight of Corporate Sponsorship activities.

  • Strategy 5:Value Awareness (ROI)

The Alabama Chapter will develop and market information specifically addressing the value of membership in our organization and disseminate this information to members, non-members, employer organizations, and universities and colleges. The Public Relations Committee will assist the Board of Directors in developing this material and will be responsible for its appropriate dissemination.

  • Strategy 6:Provider Participation

The Alabama 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. The Certification Committee will work closely with the Recruitment Committee to increase provider participation through personal development.

MEASURES OF SUCCESS

Assessing progress toward our Chapter goals will be measured using a Balanced Scorecard. Below are some, but not all of the measures to be used:

  • Financial
    • Return on revenue
    • Dashboard reporting
    • Event attendance
    • Registrant hours
    • Educational hours per member
    • Corporate Sponsorship Program support
  • Service/Product Delivery
  • Quantity and topics of workshops
  • Recognized speakers at Institutes
  • Chapter website activity
  • Webinar offerings and utilization
    • 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