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

CPD Points: 5, This is a 1 day Course

Description

Improve financial effectiveness by thoroughly understanding the workings of the evolving system

Developed in conjunction with a Senior NHS Finance Director, this course is designed for the many consultants, senior nurses and PAMs who would like NHS finance and business planning demystified to the point of being both understandable and manageable. 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

              o    Understanding the process and components
              o    Building a compelling case of need
              o    Looking for opportunities to develop
              o    Utilising Clinical Governance and other leverage
              o    Conducting an option appraisal
              o    Strategic moves – setting up your business plan to succeed
              o    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

Benefits and objectives

• Gain key knowledge and insight into the complex world of NHS fiscal management
• Understand the issues which affect service planning and development
• Acquire practical expertise in driving financial success for clinical services
• Develop successful business cases which deliver your objectives
• Read and understand financial documents with confidence and insight

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.

Target Audience

Doctors	Nurses	Bus & Admin	Allied Pros
Junior Middle Senior	Junior Middle Senior	Junior Middle Senior	Junior Middle Senior

Additional Information

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Quote Course Reference: 137

DATES & LOCATIONS

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