RBMA Common Body of Knowledge

The RBMA Board of Directors recently adopted the RBMA Common Body of Knowledge designed by the Common Body of Knowledge Task Force (CBKTF.) The goal of the task force was to create a defined set of broad educational domains and specific competencies. The complete set of education domains and competencies have been compiled and will be used as a guideline for the development of future RBMA programs and products.
The Common Body of Knowledge (CBK) represents the complete set of concepts, terms and activities that make up a professional domain. RBMA's CBK includes eight domains in the following disciplines:

Financial Management

  • Implements financial plans to ensure that sufficient funds are available to meet the needs of the organization
  • Demonstrates knowledge of financial planning and decision-making concepts
  • Develops  operating and capital budgets
  • Interprets and analyzes financial statements; profit/loss, balance sheet, and income statements
  • Applies financial controls to ensure organization’s assets are secure
  • Creates cash flow projections and conducts related analysis
  • Demonstrates understanding of cash and accrual accounting
  • Understands accounting systems and software
  • Establishes and maintains a cost-effective system of internal controls
  • Assesses risks and identifies areas of potential loss  
  • Develops procedures for segregation of accounting duties/functions
  • Establishes polices delineating spending limit authorization and approval limits for check signing
  • Implements bank statement reconciliation processes
  • Manages the revenue cycle for the entity (billings and collections)
  • Creates, implements and evaluates key processes for access management; scheduling,  registration, insurance verification, and co-payment
  • Applies process improvement techniques and audits to accelerate cash collections
  • Collects and analyzes data related to revenue cycle management
  • Evaluates major insurance carrier contracts and analyzes for payment performance
  • Benchmarks performance to RBMA standards
  • Manages the disbursement cycle for payroll and accounts payable
  • Establishes  payroll policies and procedures to ensure compliance with applicable laws and regulations including Federal Insurance Contributions (FICA), federal and state tax withholdings, health insurance co-payments and retirement plan contributions
  • Conducts reviews of disbursements for accuracy, compliance, and proper recording
  • Delivers effective presentations to governing board, lenders, and other key stakeholders regarding the financial status of the organization
  • Conducts financial analysis including measures of profitability, current and trended Conducts analysis of sites of service, service line, and modality
  • Conducts and communicates productivity analyses
  • Determines insurance requirements for professional liability, property, disability, health, etc.
  • Secures proposals for insurance products, vets vendors; facilitates selection of products
  • Ensures proper reporting of local, state, and federal taxes

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