Finance Management

The NHS Commissioning body will hold GP practices accountable for financial performance. Practices require a Finance Director or at least access to this level of expertise.

Our finance team can support GPs and Clinical Commissioning Groups with a broad range of disciplines at a competitive daily rate at short notice. There is no long term commitment.

Key Areas of Support available are listed below:

Budgeting and Forecasting – To enable your practice and Clinical Commissioning Groups to monitor performance and drive decision making to achieve long term strategic value.

Assistance in the preparation in the annual budget and rolling forecast on a monthly basis, to include Statement of Income, Balance Sheet and Cashflow.
To track income and costs against budget on a weekly or monthly basis and rationalise any variances against expected levels.
To monitor key cost categories to drive strategic change and assist in the delivery of improving operational efficiencies.
To prepare a daily cashflow forecast (rolled forward for 1 month) to identify any potential cash pinch points.

Management information – To enable your practices and Clinical Commissioning Groups to have visibility of financial information and make informed decisions.

Preparation of weekly income and expenditure statements and monthly Balance sheets and cashflow statements.
To compile a monthly Management pack to include a financial synopsis and commentary of the key performance indicators (KPI's).
To benchmark performance and liquidity against industry defined targets.
To assist in the collation and recording of source financial information.

Systems and controls – To enable your practices and Clinical Commissioning Groups to mitigate risk and develop best practices

To assess and report the quality and strength of the internal systems, controls and procedures (Internal Audit).
To support the implementation of enhanced control and management systems.
To assist in the identification of trigger points (for additional resources etc.) and areas of potential pitfalls.
To assist in the integration of front and back end systems.

Strategic - To support and enhance a robust business model for the practice and Clinical Commissioning Groups.

To assist in the development of Business and Financial plans.
To liaise with professional advisors and assist in securing additional funding requirements.

For further information please contact us.

Finance Management

Key Areas of Support available are listed below:

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