Foursight hot topics

IFRS Implementation

foursight — Thu, 19 Mar 2009 14:55:51 +0000

FourSight are able to support the IFRS implementation programme, through the provision of:

Project planning & management;
Financial impact assessment;
Technical advice on accounting treatment;
Support to the estates strategy, including assessing
the impact of LIFT and PFI schemes.

Foundation Trust Applications

foursight — Thu, 19 Mar 2009 14:55:20 +0000

FourSight are currently assisting a number of PCT providers and Trusts with achieving Foundation Trust status. Particular emphasis been placed on:

Identification of innovative and successful CIP programmes. Working with Operational, Corporate and Medical staff to ensure ownership and commitment to achieving sustainable savings. Setting up reporting mechanisms to identify on a monthly basis the level of savings to inform both the staff and Board;
Providing work shops to disseminate FT information through out the relevant levels of the organisations operational and finance staff;
Providing project management support to the process;
Designing bespoke finance and activity templates to improve audit trails and scenario modeling capability;
Completion and submission of the LTFM including analysis for future year implications;
Liaison with Monitor and auditors carrying out High Level Due Diligence, including completion of templates and putting together the information pack requests from Monitor and the auditors.

World Class Commissioning

foursight — Thu, 19 Mar 2009 14:54:35 +0000

Foursight have worked with a number of PCTs and Trusts to support the WCC process:

Completion of the WCC templates;
Modeling the cost and activity implications of the 5 year plan and the impact on the financial position of both the Provider and the PCT;
Finance and activity modeling of the implications of transferring services from acute to primary care settings;
Review and response to WCC feed back and preparation of information to support the Board at WCC Panel;
Setting up systems for in year monitoring of WCC information.

A Picture Of Health

foursight — Thu, 19 Mar 2009 14:53:53 +0000

PCT Provider Autonomy

foursight — Thu, 19 Mar 2009 14:53:23 +0000

Foursight are working with Aspirant Community Foundation Trusts and PCT Providers to facilitate financial autonomy, including:

Financial ledger and systems reconfiguration;
Balance sheet separation;
Establishment of cash management processes;
Preparation and implementation of policies and procedures;
Development of Financial Governance.

Service Line Reporting

foursight — Thu, 19 Mar 2009 14:52:44 +0000

SLR provides invaluable information about the financial impact of individual services provided by Trusts and PCTs, helping to inform the management decision-making process and ensuring clinical involvement. FourSight can advise on and assist with:

Allocation of costs and income to service lines;
The structure of reports;
Reconfiguration of financial systems;
Strategies to improve service efficiencies;
Efficient allocation of resources, to help ensure high quality patient outcomes;
Engagement of clinical staff in financial management.

NHS Finance Updates

foursight — Thu, 19 Mar 2009 14:52:12 +0000

Click here to link to the NHS finance website