News / HFMA takes steps towards royal charter

The HFMA is considering applying for a royal charter to raise its profile and gain formal recognition of its status as the leader in healthcare finance.

The green light to this was given by the HFMA board at its May meeting. Chief executive Mark Knight said the move would be formal recognition of the HFMA’s position, adding to its credibility as it joined other chartered bodies and medical royal colleges advising clinicians leading the restructured NHS.

There are no plans to launch an accountancy qualification, nor will it oversee a new regulatory agenda. In this month’s issue, Mr Knight said: ‘We regard it as the creation of a new healthcare body rather than an accountancy one, with a much broader role to play in the development of excellent healthcare services and a mission to explain healthcare finance to staff and the wider world.’

The sovereign grants royal charters on the advice of the Privy Council. If it goes through, the HFMA is likely to be renamed the Chartered Association of Healthcare Finance. But before this there will be a full consultation with members and a vote at the AGM in December.

‘I know many of you care deeply about HFMA and are committed to its objectives. These would not change. We would continue to pursue the same activities to advance the professional area of healthcare finance,’ Mr Knight added.