Comment / Charter questions

A big thank you to all our ordinary members who have voted (or are continuing to vote – deadline 5 October) in our online poll in response to the question ‘Should HFMA apply to the Privy Council for a Royal Charter’. Those of you who haven’t yet done so please take a few minutes to give us your views – go to tiny.cc/royalcharter.

The consultation on the possible creation of a Chartered Association of Healthcare Finance (CAHF) has drawn a big response and we’ve also been asked a few questions alongside the survey. I thought it might be helpful to address some of them.

• The definition of membership There has been quite a lot of comment from qualified accountants expressing concern about us reducing standards or somehow misleading the public. I want to reassure everyone we would not be letting just anyone into membership of the new chartered body. Qualified CCAB/CIMA accountants would be able to join straight away as ordinary members although they would need to demonstrate a connection to healthcare. This would aim to encompass members from the new organisations emerging, particularly in England such as social enterprises, regulators, local authorities, care trusts, consultants and government agencies. This would be the required standard for those aspiring to ordinary membership of the new body. 
  
  Associate membership would carry the same benefits as ordinary membership except that those individuals would not be eligible to use the letters after their names. The board has yet to decide on the exact member classes or on the rights of those transferring. A balance must be struck between those who fear the HFMA will become elitist and the need to demonstrate to our institute colleagues and the Privy Council that we are serious about maintaining high standards. If there are any further views about this please email me on [email protected]
  
• CPD The HFMA is a significant continuing professional development provider – tens of thousands of hours each year. If you are a member of a chartered body you would not have to duplicate your CPD.  Your HFMA membership would simply require you to commit to follow your professional body’s scheme.  There would be a template produced for those who have no professional body, but there are relatively few people for whom this is the case.
  
• Fees The HFMA can never say never but this would not be an excuse to increase the ordinary membership fees.  While we continue to post surpluses, it is unlikely that such an increase could be justified.
  
• Costs and relevance Becoming a chartered organisation shouldn’t cost that much, as is the case with the HFMA. There are costs, but the real investment is in raising the bar for us as an organisation. As the CAHF, our status and profile – and those of our members – would be increased.

The key reasons for making the change are not about letters after names. The important point is about the HFMA trying to raise its own game. It is hoped the royal charter will open more doors for us as a professional group as we forge our path in the system. We want to be a body known for consistent high standards and one that can speak with more authority on behalf of members. I believe this will be another step along a long road. If you want to send a comment to me directly please contact me on [email protected]