Innovative Healthcare Solutions, Delivered
Innovative Healthcare Solutions, Delivered

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.