Changes are needed to the capital system, but estates and finance staff also need to work better together and speak each other’s language
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The NHS needs a new system to allocate capital to support investment in transformation
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Three new accounting standards come into force over the next two years and NHS bodies need to prepare now.
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Health economies are showing increasing interest in using wholly-owned subsidiaries to deliver services such as estates and facilities management and outpatient pharmacy. But this takes some finance teams outside their comfort zones.
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The NHS may be waiting for Treasury guidance to understand fully the implications of new accounting rules for leasing, but local bodies need to start preparing for the change now.
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In an era of system working and partnership, mergers have taken a back seat. But formal restructuring is still a live issue in some areas and there is practical help available to support finance teams.
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People make partnership working a success but it is important to understand the framework in which all partners are operating. The HFMA has produced guidance to help members decide what are the important questions they must ask when developing new ways of working.
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Blogs
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All
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Alan Milburn
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Alex Gild
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Alfa D’Amato
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Bill Shields
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Catherine Mitchell
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Chris Ham
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Debbie Paterson
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Duncan Watson
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Edward John
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Emma Knowles
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Ian Moston
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Ian Turner
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Jason Helgerson
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Julia Heberle
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Lee Outhwaite
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Lisa Robertson
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Mark Knight
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Mark Orchard
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Matthew Cripps
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Nigel Davies
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Paul Briddock
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PwC
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Sam Riley
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Sandra Easton
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Sarah Bence
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Sarah Day
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Steve Brown
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Suzanne Robinson
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Tony Whitfield
Publications
The value of community services: comparison with acute settings
21 March 2019
Briefing
Accounting for leases – application of IFRS 16
14 March 2019
Briefing