Manchester Business School, NHS West Midlands and the University of Birmingham have developed a programme for Aspiring Directors. My session on Financial Challenges and Practical Solutions covered major NHS financial issues in detail in practical workshop sessions. The event closed with ‘Ten Questions to ask your Director of Finance’.
Comments from today’s event include (with written permission received from each):
“I learnt a lot – thanks.” – Abdullah Shehu, Divisional Medical Director, University Hospital Coventry and Warwickshire NHS Trust
“Very interactive and informative.” – Claire Parker, Assistant Director Medicines Management, Sandwell PCT
“Very good session.” – Peter Skitt, Divisional General Manager, Shrewsbury and Telford Hospital NHS Trust
Here are the resources from the day:
Learning the Lessons from Financial Failure in the NHS – Audit Commission Report July 2006 PDF
Financial Challenges and Practical Solutions – presentation PDF
OECD Health Data 2011 – UK data PDF
HM Treasury Budget 2012 – Complete copy of the UK’s Budget 2012 PDF
Ten Questions to ask your Director of Finance:
1. What are the main reasons for any deviation from financial plan?
2. What are the main risks to the organisation meeting its financial targets?
3. What action needs to be taken to address any deviations and potential risks?
4. What level of contingency reserve does the Finance Director have to deal with any emergencies?
5. What is the Trust’s liquidity position and how does this relate to the reported I&E position?
6. Why has the debtors/creditors figure changed?
7. What action has been taken to reduce debtors and improve cash flow?
8. What are the main risks to long term financial stability?
9. How do the Trust’s costs and performance compare to other similar trusts?
10. What steps are being taken by management to improve performance/efficiency?
Many thanks to everyone involved. Please feel free to get in contact if you have any queries or would like support.