How we can support you with finance
We support transformation programmes to strategically manage financial implications so that investment decisions are driven by value for money. We understand the challenges faced by health and care organisations. Now, more than ever, it is essential to:
- Make robust and informed cost-saving decisions
- Deliver improvements and efficiencies
- Collaborate with partners.
We work with health and care organisations to understand the benefits and risks of their transformational change programmes, so that stakeholders recognise the value for money impact and to better enable decision-making.
The scale of our support ranges from individual organisation to place or system and even up to national scale. Our expert team works with organisations and their stakeholders to:
- Identify opportunities to improve financial sustainability and to model the impact of proposed changes
- Enable collaboration, brokering difficult conversations, bringing to the surface those hidden issues, helping partners to find a way forward
- Inform investment decisions, through careful consideration of the likely impact that interventions will have on health and care organisations and the populations they serve.
We have worked with national programmes, systems (ICBs/ICSs), provider collaboratives, provider organisations (primary care, mental health, community and acute providers), local authorities, and Voluntary, Community, Faith and Social Enterprise (VCSFE) partners to do this.
Our Financial Consultancy team combines deep technical knowledge of NHS financial processes and decades of healthcare consultancy experience. Every member of our team is a Better Business Cases Practitioner and has experience of working across the health and care sector.
Our experienced team work in partnership with our customers in an open and transparent way, enabling effective communication of financial and economic analyses to a range of stakeholders. We use established industry-standard tools that allow for a seamless handover of outputs to client teams. Our approach is rich in stakeholder involvement so that financial decisions are collectively owned.
We have supported a range of programmes that have included justifying a range of digital investments, understanding the financial impact of new models of care and understanding the benefits of new target operating models. Our support offer includes:
Making robust, informed decisions
- Identifying and understanding potential financial opportunities for projects and schemes
- Modelling the financial impact of clinical redesign
- Identifying, prioritising and quantifying project costs and benefits
- Producing HM Treasury compliant business cases including economic and financial analysis
- Using established industry standard tools including the CIA model.
Delivering improvements and efficiencies
- Identifying cost drivers
- Developing benefit frameworks
- Financial modelling of recovery and productivity transformation initiatives
- CIP/QIPP identification and delivery.
Collaborating across partners
- Establishing common financial frameworks across organisational boundaries
- Quantifying costs and benefits (including cash-releasing, cost-avoidance, qualitative and societal benefits)
- Using benchmarking data, evidenced case studies and local intelligence to understand the financial opportunities for projects and schemes
- Brokering system conversations regarding funding for transformation and changes in funding flows.
Case studies
In June 2021, NHSX commissioned the Transformation Unit to support the PODAC Team (a team…