// FFM - Finance and Financial Management - Core Skills for Clinical Leaders

FFM - Finance and Financial Management - Core Skills for Clinical Leaders

CPD Points: 9
Duration: 9 Hours
Media Type: Clustered Asset
Provider: Academyst

Description

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 particular 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.

UNDERSTANDING THE FINANCIAL WORLD OF CLINICAL SERVICES
  • Understanding the NHS market economy & money flows
  • Health & Social Care Act, Darzi, Choose & Book and PbR
  • Role of commissioning in finance & service funding
  • Financial terminology: PbR, HRGs, tariffs, reference costs
  • Understanding tariff & its critical management considerations
  • Understanding Budgets, Service Line Reporting & Service Line Management
  • Making sense of budget and service line reports
  • Capital and Revenue spending - principles & differences
  • Purchasing - following the guidelines and rules - local and national
  • Standing financial procedures, instructions & fraud - what you need to know

FINANCIAL MANAGEMENT FOR CLINICAL LEADERS
  • Understanding financial prioritisation and linking to directorate & clinical goals
  • Financial goal setting at a departmental or directorate level
  • Balancing financial and clinical needs - developing consensus
  • Understanding return on investment from both fiscal & clinical perspectives
  • Proactive management of financial stability
  • Developing strategies for recovery from a poor financial position
  • Common financial pitfalls & how to avoid them

CORE PRINCIPLES IN COST REDUCTION
  • Financial modelling - the relationship between income, cost and activity
  • Identifying potential savings & testing their plausibility
  • Risk assessment in cost improvement
  • Eliciting savings from staffing - the right way
  • Organising cost improvement for maximum effectiveness
  • Engaging the whole team willingly in cost improvement

  • 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
  • Read and understand financial documents with confidence and insight
  • Learn how to proactively design financial achievement
  • Reduce cost whilst improving quality

  • Doctors - Junior
  • Doctors - Middle
  • Doctors - Senior
  • Nurses - Junior
  • Nurses - Middle
  • Nurses - Senior
  • Business & Administration - Junior
  • Business & Administration - Middle
  • Business & Administration - Senior
  • Allied Pros - Junior
  • Allied Pros - Middle
  • Allied Pros - Senior