Business partners: working together

02 December 2019 Seamus Ward

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Over the last few years, the phrase finance business partner (FBP) has crept into the rich vocabulary of NHS finance. It is a role that can offer something different to the well-established and defined jobs within the finance function. Although the job description and line management can differ from organisation to organisation, the main focus of the role is on enhancing value by working closely with clinical and operational managers, providing a link between frontline care and the finance department.

But what skills do aspiring FBPs need? What are the common responsibilities? And how might the role develop? A new briefing from the HFMA, in partnership with Future-Focused Finance and ACCA, aims to shed light on these questions and more.

Briefing

The briefing, Exploring the role of the NHS finance business partner, throws the weight of the three organisations behind FBPs. ‘As a result of this research, FFF, ACCA and the HFMA strongly recommend that any NHS organisations without FBPs as part of their financial support to clinical and corporate services should consider implementing them and begin benefiting from the advantages they can bring,’ it says.

FBPs often have titles such as divisional accountant or senior finance manager. For many FBPs, it will be the first finance role where they move away from day-to-day standard reporting and analysis, but that may require a step-change in their understanding of the clinical services being provided.

Each organisation may define the role of the FBP differently. Some will place the FBP in the operational team they support – others will keep them within the finance department.

According to ACCA, the FBP is a core part of the management decision team, and uses financial information to influence and shape outcomes, taking account of both financial and strategic objectives.

Together with PwC, ACCA introduced the four-box finance model in a report Market change is faster than ever – is your finance function in the race? The boxes, which describe the role of the finance function in an organisation, are: communicator; business partner; scorekeeper; and diligent caretaker. Scorekeeper and diligent caretaker roles are the traditional core accounting activities. The communicator and business partner roles move the focus to communicating the results of transactions and reconciliations and providing insights through the analysis of data. By moving their duties to the communicator and partner roles, the FBP plays a key role in decision-making and strategy.

FBP responsibilities can differ and overlap with colleagues in other finance roles (see table). Some will have no day-to-day scorekeeper or caretaker duties – usually in a large organisation – and act as the strategic finance presence in a number of clinical divisions or services. Others have a wider portfolio that includes some of the traditional accountancy roles, but support a small number of clinical services.

Working together
Communication skills

With its outward-facing nature, the FBP role requires good communication skills, not just to engage with senior managers and clinicians but also to make strong links with all involved in the provision of services. This is central to the role, which can help to forge closer links between clinical and finance staff to enhance efficiency and productivity.

The FBP role has also emerged as automation reduces the time needed to complete scorekeeper duties such as invoicing and reconciliation, shifting finance teams’ focus to value-adding work. FBPs now look at outcomes and other elements of value-based healthcare. Though the role is evolving and can include a range of duties, the FBP report says two abilities came up repeatedly when finance business partners and their stakeholders discussed what makes a good FBP:

They must have a deep understanding of the business – knowing what drives the financial position of a care group or division, identifying who to speak to and being able to communicate the wider context, not just the figures. Shadowing operational colleagues, spending time in clinical departments and attending relevant meetings can deliver this understanding

FBPs should also act as a link between finance and operational services – facing both ways, they should share their understanding of clinical activity with finance colleagues, and their financial knowhow with operational staff. This knowledge should be delivered in a concise and engaging way to help round out understanding of the organisation’s operational and financial aims.

These skills mean FBPs are problem solvers, helping them and others identify the best option when facing questions such as resolving coding anomalies or how to achieve safe staffing within budget.

The FBP role can make the job more stimulating, but the benefits are not restricted to individuals and extend to employers, the briefing says. These advantages include: the provision of expert financial advice to inform better decision-making; a financial presence at an earlier stage of developmental discussions; and improved relationships and understanding across operational and support services.

Lines of accountability

To maximise the chances of success, organisations must ensure that FBPs have clear lines of accountability. There must be an awareness across the organisation of the expectations for the role, and of how it fits with the other well-defined finance posts. While becoming an FBP might be a natural step for an NHS management accountant in some organisations – and some FBPs retain their management accounting duties – there is a question mark over how much management accounting work FBPs should be given.

The research found that where the role includes management accounting responsibility, it is important that this is not the overriding duty, allowing FBPs the time to focus on strategic objectives.

Location – whether FBPs are placed in operational teams or the finance department – was found to be less important than accessibility and visibility to the operational colleagues they support.

Where managed in the finance department, usually by a deputy or assistant director of finance, the operations director usually also has a role in managing the FBP, taking part in appraisals and objective-setting. FBPs located in finance departments told the researchers they were more likely to spend most of their time in finance at month-end, while the rest of their time tended to be spent supporting operational and clinical colleagues in their departments.

In the field

In larger organisations, FBPs are often located and managed in operational teams, reporting to the operations director. However, the report says that if placed in a service team, the organisation must be mindful that an FBP’s professionalism means they must remain objective. It adds: ‘Being too entrenched within a service to be able to provide a robust challenge or offer new solutions to recurring problems is a risk that organisations and individuals need to be mindful of.’

The researchers found few reports of conflicts, though disagreements and differences of opinion were natural in an environment where all are trying to do their best for patients, the briefing says.

HFMA policy and research manager Andrew Monahan – the author of the briefing, who has worked as an FBP – says his research found that finance and non-finance staff were passionate and enthusiastic about the role and its ability to make a difference to patient care.

‘This briefing provides an insight into what the role involves and the type of people who are likely to be best suited to it,’ he says. ‘Through the emergence of business partnering, the finance function is adapting to the changing needs of organisations and advances in technology in order to provide a more proactive, forward-looking support service that can really add value.’

As well as examining the current position, the briefing looks at how the FBP role could develop. It says FBPs could work across systems following the emergence of sustainability and transformation partnerships and integrated care systems.

This is happening in parts of the NHS in England and in Scotland (see box), where system working is more established. Working across systems could lead to greater autonomy for FBPs or higher levels of responsibility within an organisation – perhaps reporting directly to the director of finance.

The FBP role also gives finance staff a chance to develop the skills needed for senior finance roles and many current heads of financial management, associate directors and deputy directors – as well as some finance directors – have previously been FBPs.

‘The FBP is now one of the key roles in a trust’s finance function,’ says David Ellcock, FFF programme director. ‘While it is not essential to have been in such a role to progress up the career ladder, it undoubtedly allows you to hone many of the skills that are essential to operate successfully at higher levels.

‘Above all, it encourages you to see things from a clinical perspective and to understand what finance can, and should, do to help clinicians achieve their goals.’

A separate report from the HFMA, FFF and PwC, NHS finance: designing our future, says the FBP role will grow, but they will need effective communication and analytical skills to help inform organisational and system strategy.

Finance business partner is a relatively new role that has great potential to help NHS accountants move into more senior finance positions, or even to develop an interest in operational management. But it is also a role for the times – if done well it can foster greater collaboration between finance and clinical teams, helping to reduce inefficiency and improve services for patients. 

FBP case study: NHS Lothian

Andrew BoneNHS Lothian finance business partner Andrew Bone’s role is as close to that of a mini-finance director as any of the FBPs interviewed for the briefing.

He provides finance support at one major hospital site, the Edinburgh Royal Infirmary, and for strategic programmes – scheduled care and cancer performance – that run across a number of NHS Lothian sites.

This involves meetings with senior managers and clinical teams, but also more strategic teams on, for example, waiting times or a business case being developed on emergency access to the Royal Infirmary.

Speaking to Healthcare Finance he says: ‘Day to day, it’s about being a partner who tries to influence hospital planning in the medium to long term; to think in terms of financial sustainability; and take into account non-financial factors to deliver the right outcomes for patients.’

He adds that he must help design services that are as efficient as possible, considering factors such as maps of care, community settings, workforce sustainability and financial affordability.

‘A big part of the job is making sure things like documents around financial planning and savings plans have been created, but also that programmes are driven forward, so there is a leadership role there too.’

He says finance staff are in a good position to make a difference because they can quantify resources and identify issues, and express both in a way people understand. This leads to more informed decision-making. ‘We have a common language, which is money. You can talk to a clinician and say: “You can do five of those treatments or four of those – where do you want to prioritise?” If you give people this type of information they respond better when asked to make choices.’

Though he has no direct responsibility for everyday finance activities, Mr Bone says the reality is that many FBPs will still have to do this ‘nuts and bolts’ finance work. However, NHS Lothian has designed its finance function so its FBPs have taken a step away from duties such as month-end reporting.

‘I need to have an understanding of the financial reports, but I don’t have to worry about the day-to-day stuff. My eyes are fixed on the horizon and the planning and design of services in the medium to long term, with as much value as possible.’


FBP responsibilities

Supporting documents
Working together