Raise Value with Your Finance Competency
Excellent health care facilities managers know their way around Excel, and understand that each line item on a finance spreadsheet translates into having the staff, equipment and buildings to support high quality care. To succeed in facilities management, professionals must serve as good financial stewards of limited resources and demonstrate a comprehensive understanding of health care operational and capital financial management.
This competency is achieved by:
- Managing budgets to be able to repair/replace necessary equipment when needed
- Demonstrating knowledge in budgeting, contract management, capital equipment, property and equipment leasing and bidding
- Establishing facility-focused financial key performance indicators to measure and benchmark operational and capital expenditures
- Putting in place sustainable procurement practices focused on value vs. upfront costs
Training and Resources
Finance Education
Finance 101 for Facility Managers
On-Demand webinar
Learn about the “time value of money” and other financial tools, how they are used in decision-making, and how to present financial analysis to the CFO.
Financial Foundations in Healthcare Facility Management
On-Demand webinar
Gain an understanding of the financial language used by executive leadership, earn credibility and secure a seat at the table for financial planning and decisions.
CHFM Exam Preparation Flash Cards
Resource
Test and expand your knowledge in finance and other competency areas using this education prep tool aligned to the Certified Health Care Facility Manager exam.
Design Like an Investor
On-Demand webinar
Architects, engineers and construction managers should understand health campus financing, long-term value and sustained community impact — three areas covered in this webinar.
Smart Money Now vs. Dumb Money Later
On-Demand webinar
Learn how to use financial planning and standards to reduce unnecessary lifetime costs for health care facilities operations.
From the Boiler Room to the Board Room – Communicating the VALUE of Infrastructure Investment to Non-Facility Leadership
On-Demand webinar
Gain a financial framework to construct and sell future budget requests.
Finance Publications and Tools
Capital Renewal Playbook
Monograph
Creating a capital renewal program can help hospitals identify, prioritize and execute maintenance projects while avoiding investment errors and unbudgeted costs.
Federal Capital Financing
Tool
Explore federal government programs that provide grants, loans and loan guarantees to support hospitals’ capital financing needs and learn about eligibility.
Best Practices for Financing Energy Sustainability
Monograph
Supply chain, facilities, finance, sustainability and public health professionals can use this monograph to navigate the challenges of investing in carbon reduction.
The Pandemic-Resilient Hospital: How Design Can Help Facilities Stay Operational and Safe
Guide/Report
Learn facility investment considerations when designing and renovating spaces that will increase resilience for the future.
Reducing Operational Costs Through Energy Efficiency
Monograph
Cut your health care facility’s operational costs — regardless of size or climate zone — with these tips, tactics and case studies for energy cost reduction.
Maintenance Management for Health Care Facilities
Book
Learn procedures that ensure a cost-effective maintenance approach that also keeps equipment operating properly, safely and economically.