Briefing / System finance: an overview
The Health and Care Act 2022, implemented 1 July 2022, introduced a number of changes with the main purpose to establish a legal framework that supports collaboration and partnership-working to integrate services for patients. This applies across the NHS, local authorities, non-NHS providers and the third sector.
Changes to the financial framework have been made to support the new NHS structure and collaborative way of working expected to manage outcomes. This includes the requirement for NHS bodies to work together to meet joint financial objectives and duties.
In some ways, the role of finance will not change as NHS bodies will still need to manage their own finances, report to their own board and to the regulators. In other ways, everything will change as decisions will need to be made with a view to their impact on the wider system and the financial impact of those decisions will impact on partner organisations.
Recognising the significant change taking place this year - in terms of the NHS structure, financial framework and how the finance function operates – along with the number of people new to role, the HFMA has developed a set of slides to support conversations both within finance teams and with non-finance colleagues.
You may wish to use a subset of these slides for specific conversations, as well as adding local context to specific slides. Arrangements will be developing differently in each system so the slide pack (including notes) can, and should, be tailored accordingly.
Changes to the financial framework have been made to support the new NHS structure and collaborative way of working expected to manage outcomes. This includes the requirement for NHS bodies to work together to meet joint financial objectives and duties.
In some ways, the role of finance will not change as NHS bodies will still need to manage their own finances, report to their own board and to the regulators. In other ways, everything will change as decisions will need to be made with a view to their impact on the wider system and the financial impact of those decisions will impact on partner organisations.
Recognising the significant change taking place this year - in terms of the NHS structure, financial framework and how the finance function operates – along with the number of people new to role, the HFMA has developed a set of slides to support conversations both within finance teams and with non-finance colleagues.
You may wish to use a subset of these slides for specific conversations, as well as adding local context to specific slides. Arrangements will be developing differently in each system so the slide pack (including notes) can, and should, be tailored accordingly.
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