I'm three weeks into studying for the HAC and trying to figure out where to concentrate my effort. I have a CPA and about six years of general accounting experience, but healthcare-specific accounting - cost reporting, Medicare and Medicaid reimbursement, fund accounting - is new to me. My first diagnostic practice test came back at 59%, which I expected given those gaps.
The exam content outline lists cost accounting and reimbursement as the two largest domains, together covering roughly 45% of the questions. Does that match what people actually saw on the exam, or is the distribution different in practice?
I'm also trying to decide between two prep resources and can't find much independent information about either. The HFMA prep materials seem like the obvious choice since it's their certification, but I've heard the content is thin and doesn't match the exam depth. Has anyone used a third-party prep course and found it more useful?
My target is to sit in 10 weeks at about 2 hours per day on weekdays. With my CPA background covering the general accounting foundation, I'm hoping I can close the healthcare-specific gaps in that time. Is 10 weeks realistic from 59%?
I used the HFMA study guide plus a supplemental healthcare finance textbook and passed with a 77% after 11 weeks. The HFMA materials are a bit thin on cost report mechanics specifically - I'd recommend pulling the CMS cost report instructions as a supplement. They're free and very detailed.
The reimbursement methodology questions are tricky because they change as CMS updates its rules. Make sure whatever materials you use are from the last 18 months - I found older prep content with the wrong DRG weight methodology and it cost me several questions.
The distribution on my exam felt close to the outline - cost accounting and reimbursement questions were definitely the bulk of it. If you have a CPA background, the general GAAP stuff won't slow you down, which gives you more runway to focus on cost reporting and 340B program questions.
10 weeks from 59% is tight but your CPA background helps a lot. The people I know who struggled most were those without any accounting foundation at all. Give yourself permission to skip quickly through basic financial statement sections and load up on Medicare cost reporting instead.
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