ALTERNATIVE THERAPY –STRENGTHENING NHS FINANCIAL RESILIANCE
NHS bodies are facing increased pressure to find savings, alongside other political, quality, technological and demographical developments. The demand for higher care quality in the light of the Francis and Keogh reports, present a significant challenge in the context of the £30 billion funding gap and the most significant NHS reorganisation since its inception.
This report from Grant Thornton sets out our insight into the resilience of NHS finances are and provides a summary of the key themes and best practice that have emerged from our national programme of financial health reviews. The report considers key indicators of financial performance, financial governance, strategic financial planning and financial control, to provide a summary update on how the sector is coping.
The report reveals that in the last 12 months 44% of trusts did not achieve their planned Cost Improvement Plans and their Quality, Innovation, Productivity & Prevention targets. Of the non-foundation trusts reviewed, 89% did not meet their sickness absence targets, and the level of sickness absence rose in 43% over the year.
The report found that trusts with workforce issues were far more likely to be in deficit. The analysis finds that trusts need to make savings in a fundamentally different way looking at patient pathways and service redesign. With an operational and financial challenge of this scale, trusts will need a motivated and effective workforce to achieve financial resilience and deliver a high quality of patient care.
The report is available here.