Healthcare Costing for Value Institute

The concept of ‘value’ in healthcare – maximising the outcomes which matter to people at the lowest possible cost – is increasingly seen as a key lever for supporting the delivery of high quality sustainable healthcare. The challenge is how to do this in practice – both at an organisational and system level.

It is hard to argue against the theory of value-based healthcare – it needs to become the focus for clinicians and finance alike as they look to deliver high-quality sustainable healthcare services. But how do you translate the theory of value into practice? This is what the Institute has been exploring with its partners over the past few years.

We support our partners to implement and improve patient-level costing and deliver value-based healthcare through our four key themes: confident costing, translating data, driving value and innovation.

“I don't think there has been a more pressing time to drive value-based healthcare because if we can't continue to provide high quality care at lower cost then I think we are going to be, as a nation, in quite a difficult position. So, if you're not been a believer in value-based healthcare, in producing high quality at the lowest possible cost then you need to become a believer, because that is the way we're going to have to deal with the challenge we have ahead of us.”

Professor Sir Stephen Powis, National Medical Director, NHS England speaking at the Institute value masterclass in 2024

Institute programme 2024/25

The 2024/25 event programme will continue to develop throughout the year and will conclude on 31 March 2025.

What's on (link to PDF brochure)

Upcoming Institute events

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Introduction to NHS costing - Sept 2024

This event is for those that will benefit from an overview of costing in the NHS or those new to costing and will cover why we cost and the processes.

Event 10:00, 19 September 2024

Value, costing, efficiency and productivity Costing Financial performance Financial reporting Finance staff

International value symposium 2024

The symposium attracts senior decision-makers interested in making value-based healthcare a reality, and welcomes international delegates.

Event 09:00, 8 October 2024

Value, costing, efficiency and productivity Value Financial performance Financial reporting International healthcare International financial reporting standards

Costing revolution summit 2024

This event focused primarily on the use of costing information and the importance of working with others to turn data into business intelligence.

Event 09:00, 13 November 2024

Financial management and reporting Financial regime and performance Value, costing, efficiency and productivity Costing Clinical engagement

Introduction to NHS costing - Jan 2025

This event is for those that will benefit from an overview of costing in the NHS or those new to costing and will cover why we cost and the processes.

Event 10:00, 21 January 2025

Value, costing, efficiency and productivity Costing Financial performance Financial reporting Finance staff

More about the Institute

Institute themes and frameworks

The Institute’s programme is built around four key themes and two main frameworks.

Institute resources and events

View our latest Institute partner resources and events content.

Patient-Level Information and Costing Systems (PLICS)

What is patient-level costing?

The costing revolution

Prioritise the patient, care about the cost.

Institute groups

Institute Costing Group

This group provides an independent, cross-sector voice on costing in the NHS. The group supports trusts to improve costing, champions the benefits of high quality costing information and communicates its important role in supporting transformation and underpinning decision making in the NHS.

Institute Council

The council oversees the running and governance of the HFMA's Healthcare Costing for Value Institute and continues the work of the strategic costing group in discussing and championing high quality costing and value-based decision-making around the performance and delivery of services.