Core Skills in Finance & Business Planning for Consultants & Clinical Leaders

With particularly emphasis on what it takes to be financially successful in today’s NHS environment, the course balances a detailed understanding of the principles and process of NHS money flow with the practical skills to operate successfully to ensure services survive and thrive in the new market economy.

Content

• Understanding the NHS market economy
• Adopting a better model of NHS structure and process
• Understanding financial terminology: PBR, HRGs, tariffs, reference costs, choose and book, block contracts, SLA and much more
• Role of commissioning; commissioning a world class service, practice based commissioning
• Impact of Darzi, Choose & Book, PBR and new ways of commissioning on departmental funding and finance
• Understanding money flows within the health service – how are they changing and what are the implications
• Understanding financial prioritisation and linking to organisational and directorate goals
• Understanding Service Line Reporting and Service Line Management
• How does the tariff work
• How are services costed and is there a better way?
• Fundamentals of business planning
  • Understanding the process and components
  • Building a compelling case of need
  • Looking for opportunities to develop
  • Utilising Clinical Governance and other leverage
  • Conducting an option appraisal
  • Strategic moves – setting up your business plan to succeed
  • Understanding the games Trusts play and strategies to deal with them
• Core principles in financial management
• Financial goal setting at a departmental or directorate level
• Balancing financial and clinical needs – developing consensus
• Linking financial management to clinical care
• Understanding return on investment from both fiscal and clinical perspectives
• Reading and understanding financial reports and spreadsheets
• Proactive management of financial stability
• Developing strategies for recovery from a poor financial position
• Saving money – the wrong way to approach it… and a better way
• Capital and Revenue spending – the differences
• Purchasing – following the guidelines and rules – local and national
• Understanding the mindset of the financial team
• Ensuring probity – individual, directorate and Trust
• Understanding Trust responsibilities in relation to finance and fraud
• Standing financial procedures and instructions what I need to know
• Common financial pitfalls

Course type and teaching methods

A meeting room based course with an engaging mixture of lectures, exercises, discussions and case histories resulting in a high quality learning experience that is stimulating & enjoyable.