Health Care Risk Financing Certificate Program
Understanding the basics of risk financing allows the risk manager to tie clinical event prevention efforts directly to the financial ramifications
This course is designed to help risk managers learn key risk financing information and techniques, as well as how to better analyze and promote their own programs. From reviewing loss runs to understanding actuarial reports, an educated risk manager can more fully engage their c/suite by facilitating conversations around the financial implications of the risk management program to the organization.
The course starts by looking at insurance policies and ends with marketing the insurance program to the carriers – illustrating how the options of risk financing can parallel the organization’s philosophy on risk identification, mitigation, and resolution. By setting the foundational knowledge, and then adding case studies and an actuarial overview, the course is comprehensive and practical.
The certificate program uses a live virtual learning approach, which provides attendees with on-demand educational videos, discussion boards, readings, assignments, and knowledge checks as well as 5 weekly live calls with faculty. Upon completion of the Risk Financing Certificate Program attendees will earn 14.5 contact hours and ANCC contact hours which can be applied to the CPHRM renewal.
Benefits of the Risk Financing Certificate Program
By the end of this course, you will be able to:
- Determine insurance limits and coverage for your insurance program.
- Select the best method of reserving for your insurance program.
- Consider decision points to manage the risk exposures of your insurance program.
- Understand the impact of actuarial analysis on future loss projection.
Virtual Course Agenda
Download the Summer 2025 Risk Finance Agenda
Download the Fall 2025 Risk Finance Agenda
Who should attend this program?
Although this program is most appropriate for beginners or those with an intermediate understanding of risk financing principles, it covers enough information to benefit even the most experienced risk manager.
Topics Covered:
Module 1 | Risk Financing Overview
OBJECTIVES
- Define risk financing, policy types, important market trends, common risk financing structures, and modification factors.
- Explain the value of a philosophy statement.
- Describe how different methods of reserving impact the insurance program.
Module 2 | Projecting Future Risk
OBJECTIVES
- Calculate the occupied bed equivalent for multiple hospitals.
- Compute a hospital's modification factor for purposes of insurance funding.
- Explain how prospective year funding and prior year liability are calculated.
Module 3 | The Tools of Risk Financing
OBJECTIVES
- Explain reserve and risk classification types.
- Learn to classify risk as unintended or intended.
- Explain the ramifications of hold harmless language.
Module 4 | Implementing Risk Financing Strategies
OBJECTIVES
- Develop a marketing strategy for the renewal of an insurance program.
- Distinguish the difference between a soft and hard insurance market.
- Analyze total premium and the implications of allocation decisions.
Faculty
- Elizabeth Huntington, RN, BSN, MSN, JD
- Pamela L. Popp, MA, JD, DFASHRM, CPHRM, DSA, AIM
- Vincent F Yezzi, FCAS, MAAA
Important Course Information
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ASHRM Credit
This program is approved for 14.5 contact hours of continuing education credit toward fulfillment of the requirements of ASHRM designations of FASHRM (Fellow) and DFASHRM (Distinguished Fellow), and toward CPHRM renewal – for those who hold the designation at the time of the program.
Continuing Nursing Education (CNE)
American Society for Health Care Risk Management is accredited as a provider of nursing continuing professional development by the American Nurses Credentialing Center's Commission on Accreditation. This program has been approved for 14.5 contact hours.
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This course is offered 14.5 hours of online format.
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You will receive a Certificate of Completion upon completion of the following:
- Full online attendance during live calls
- Completion of all online activities
- Completion of evaluation taken within two weeks of the course
COURSE DATES:
ASHRM Summer Program
June 23 - August 8
Live Calls taking place from 12:00 – 1:00 pm CST
- July 1st – call 1
- July 10th – call 2
- July 17th – call 3
- July 24th – call 4
- July 31st – call 5
ASHRM Fall Program
October 27 - December 5
Live Calls taking place from 12:00 – 1:00 pm CST
- November 4th – call 1
- November 11th – call 2
- November 18th – call 3
- November 25th – call 4
- December 2nd – call 5
Registration opens in Q1
Note: These sessions are fully virtual and do not require physical attendance.
SUPPLEMENTAL RESOURCES
ASHRM Health Care Risk Financing Playbook
ASHRM Claims & Litigation Playbook
Aon/ASHRM Hospital and Physician Professional Liability Benchmark Report
Enterprise Risk Management for Health Care, Fourth Edition