Financial or Procurement Initiative of the Year - HSJ Value Awards 2019
Those responsible for the financial management of an NHS organisation must maintain a constant eye on how to deliver maximum value. Part of the solution can be the finance department itself. Improving data collection and analysis, overhauling payroll and other financial systems, bolstering reporting and audit – all changes to the finance department that can make a significant difference to the overall efficiency of an organisation.
Attention has been paid to the opportunities presented by better procurement, not least through Lord Carter’s review of NHS productivity. By capitalising on economies of scale, planning purchases more effectively and focusing on value rather than cost alone, high quality procurement makes a significant contribution to making the most of taxpayers’ money.
This award will recognise individuals, teams and organisations that are ensuring finance pays its own part in delivering value for money health care.
NHS procurement or finance teams which have made demonstrable improvements to technologies, systems and processes which enabled savings, improved economies of scale and created value for stakeholders. Private service providers are also welcome to present their value for money partnerships with NHS organisations.
- A description of the context for the initiative including challenges, financial situation, stakeholder demands
- An explanation of how it aimed to achieve improved value in financial management or procurement
- How the project plan was informed by existing best practice or evidence
- Where a service has been outsourced, an explanation of how the procurement process ensured best value and quality while minimising risk
Describe with supporting evidence the financial results of the initiative. How has the initiative improved spend management? What economies of scale were achieved? In terms of procurement what were the effects on suppliers or supply management? How did the project delivery value for stakeholders?
Describe how the initiative has been shared with other teams, departments or organisations, what efforts have been made to disseminate best practice?
Value can be described in terms of improved processes which have led to better service to end users whether that be colleagues and departments or patients. How have stakeholders benefited from efficiency improvements?
How did the financial or procurement teams work with their internal customers and stakeholders? What efforts were made at working with suppliers and if relevant what value did work with an external service provider add