Healthcare Financial Management Association
Professional services
UnclaimedA United States professional membership association serving healthcare finance, accounting, revenue-cycle, and financial-management professionals.
Last updated August 24, 2026
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Overview
The Healthcare Financial Management Association (HFMA) is a United States professional membership organization focused on the financial management of healthcare organizations. It serves healthcare finance executives and professionals, including chief financial officers, controllers, accountants, and specialists working in revenue-cycle and related functions. The association is headquartered in Downers Grove, Illinois, and has reported a membership of more than 150,000 people. HFMA's work is centered on helping professionals understand and manage the financial, operational, regulatory, and organizational complexity of the healthcare industry. Rather than operating as a healthcare provider or financial institution, it functions as a professional and knowledge network. Its activities include sharing research and practical guidance, supporting professional development, convening members and other stakeholders, publishing industry content, and promoting approaches intended to improve the financial performance and sustainability of healthcare delivery organizations. The association traces its origins to an organizing meeting held at Indiana University on June 17, 1945. Sixteen members of an organizing committee subsequently established the American Association for Hospital Accountants on September 30, 1946. The original purpose was to encourage cooperation among hospital accountants and hospital organizations and to create a forum where practitioners could exchange ideas and experience. As healthcare organizations and the responsibilities of their finance departments evolved, the organization changed its name first to the Hospital Financial Management Association in 1968 and then to the Healthcare Financial Management Association in 1982. HFMA describes its broader mission in terms of building and supporting coalitions with healthcare associations and industry groups. Through those relationships, it seeks to develop consensus around challenges facing the United States healthcare system, identify gaps in the delivery system, and share knowledge and practices that can help address those gaps. This places the association at the intersection of healthcare finance, administration, policy implementation, and operational improvement. Its offerings include professional membership, educational and networking opportunities, industry publications, and resources for healthcare finance and revenue-cycle professionals. Its flagship publication, hfm magazine, covers healthcare finance news, strategies, and operational insights. The organization has also documented its institutional development through anniversary histories, including From Acorn to Oak, published in connection with its 45th anniversary, and From Acorn to Oak and Beyond, covering the period from 1991 through 2006. HFMA changed its membership model in 2019 as part of an effort to better serve the changing needs of healthcare finance professionals. The association has also received recognition for communications and digital work, including a 2019 Innovation Award from the .orgCommunity and a 2019 W3 Silver Award for its website. In 2021, hfm magazine received recognition from the American Society of Business Press Editors, while HFMA received five EXCEL Awards from the Association Media & Publishing Network for work involving its podcast, magazine redesign, design, and overall excellence.
History
HFMA originated during the postwar development of modern hospital administration. An organizing meeting took place at Indiana University on June 17, 1945, where participants identified the need for greater cooperation among hospital accountants and healthcare organizations. Sixteen organizing committee members were associated with the subsequent establishment of the American Association for Hospital Accountants, formally founded on September 30, 1946. The early organization provided a professional setting in which hospital accountants could exchange ideas, discuss practical problems, and strengthen relationships with hospital organizations. Its formation reflected the growing importance of specialized financial administration within hospitals and the need for common professional knowledge in a field that was becoming more complex. In 1968, the association changed its name to the Hospital Financial Management Association. The new name broadened the emphasis from accounting alone to financial management more generally. In 1982, it adopted the name Healthcare Financial Management Association, reflecting further changes in the healthcare industry and the expanding role of financial professionals across different types of healthcare organizations. HFMA later recorded its institutional history in anniversary publications. Robert M. Shelton, FHFMA, CAE, wrote From Acorn to Oak in 1991 for the association's 45th anniversary. The work chronicled the organization's development from a small group of hospital accountants into a broader professional association operating in a complex healthcare-finance environment. To mark its 60th anniversary, HFMA issued From Acorn to Oak and Beyond, extending the historical account through 2006. Over time, HFMA's activities expanded beyond professional identity and accounting practice. The association developed a broader mission involving education, knowledge-sharing, professional networking, and collaboration with other healthcare associations and industry groups. It presents coalition-building as a way to develop consensus around problems facing the United States healthcare system, identify weaknesses in healthcare delivery, and disseminate practical solutions and best practices. HFMA's audience includes senior healthcare finance executives as well as accounting, revenue-cycle, and financial-management professionals. Its work is delivered through membership, educational resources, events, publications, and digital media. The association's flagship publication, hfm magazine, provides news, analysis, strategies, and insights for healthcare finance and revenue-cycle professionals. In 2019, HFMA changed its membership model to better reflect the needs of contemporary healthcare finance professionals. That year also brought external recognition for its organizational and digital work: the .orgCommunity presented HFMA with an Innovation Award, and the Academy of Interactive and Visual Arts awarded its website a W3 Silver Award. In 2021, hfm magazine received recognition from the American Society of Business Press Editors, and HFMA received five EXCEL Awards from the Association Media & Publishing Network for its podcast, magazine redesign, design work, and overall excellence. HFMA remains an active United States professional association centered on the financial side of healthcare delivery. Its role is to connect practitioners, publish and distribute professional knowledge, support education, and encourage cooperation among stakeholders dealing with the financial and operational challenges of the healthcare system.
- 2021
Publication and association media awards
[1]hfm magazine received ASBPE recognition, while HFMA received five EXCEL Awards for publication, podcast, design, and general excellence.
- 2019
Membership model revised
[1]HFMA changed its membership model to better address the needs of healthcare finance professionals.
- 2019
Digital and organizational awards received
[1]HFMA received an Innovation Award from the .orgCommunity and a W3 Silver Award for its website.
- 2006
Historical coverage extended through 2006
[1]HFMA's 60th-anniversary history, From Acorn to Oak and Beyond, documented the association's development from 1991 through 2006.
- 1991
Publication of From Acorn to Oak
[1]HFMA published Robert M. Shelton's history of the association for its 45th anniversary.
- 1982
Adopted the Healthcare Financial Management Association name
[1]The organization adopted its current name to reflect the changing scope of healthcare organizations and healthcare finance responsibilities.
- 1968
Name changed to Hospital Financial Management Association
[1]The association adopted a name emphasizing the broader discipline of hospital financial management rather than accounting alone.
- 1946
American Association for Hospital Accountants founded
[1]The organization was formally founded on September 30, 1946, with an initial focus on cooperation and knowledge exchange among hospital accountants.
- 1945
Organizing meeting at Indiana University
[1]An organizing meeting was held at Indiana University on June 17, 1945, establishing the foundation for a national professional organization for hospital accountants.
Products and positioning
A professional knowledge, education, and networking association for healthcare financial-management and revenue-cycle professionals in the United States.
Professional publication
hfm magazine
HFMA's flagship publication covers healthcare finance news, management strategies, and practical insights for healthcare finance and revenue-cycle professionals. It serves as a channel for distributing industry analysis and professional guidance to the association's audience.
Professional membership · 1946
HFMA membership
The association's membership connects healthcare finance executives and professionals, including chief financial officers, controllers, accountants, and revenue-cycle specialists. Membership supports access to professional knowledge, education, networking, and association activities.
Professional education
Education and professional development
HFMA provides education and knowledge resources intended to help healthcare finance professionals navigate financial, operational, and regulatory complexity. The offering is part of the association's broader role in sharing practices and supporting professional capability.
Brand decisions
2019
Revise the membership modelStrategyBackground
The needs and roles of healthcare finance professionals had evolved as healthcare organizations and financial functions became more complex.
Action taken
HFMA changed its membership model to better serve healthcare finance professionals.
Aftermath
The change formed part of HFMA's continuing effort to align its professional community and services with the contemporary healthcare-finance environment.
1982
Adopt the Healthcare Financial Management Association nameStrategyBackground
Changes in the healthcare industry broadened the settings and responsibilities represented by the association.
Action taken
The organization adopted the name Healthcare Financial Management Association.
Aftermath
The current name positioned the association as serving healthcare financial management more broadly rather than hospital accounting alone.
1968
Expand the organizational identity from accounting to financial managementStrategyBackground
The original American Association for Hospital Accountants operated in a healthcare environment where financial responsibilities were becoming broader than traditional hospital accounting.
Action taken
The organization changed its name to the Hospital Financial Management Association.
Aftermath
The change signaled a wider professional remit and preceded the later adoption of the healthcare-wide name.
Recent events
Sources3 sources
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