Name: Accounting for revenue and capital: implications for the digital age
Start: 2022-06-22T12:00:00Z
End: 2022-06-22T12:01:00.000Z
Location: BrightTALK
Rating: 4.6

The Healthcare Financial Management Association (HFMA) is the professional body for finance staff in healthcare. For more than 70 years, it has provided independent and objective advice to its members and the wider healthcare community. It is a charitable organisation that promotes best practice and innovation in financial management and governance across the UK health economy through its local and national networks. The association also analyses and responds to national policy and aims to exert influence in shaping the wider healthcare agenda.
The HFMA has achieved accredited continuing professional development (CPD) status with the CPD Standards Office for our national and networks webinars. Delegates that watch one of these webinars will be issued with an accredited CPD Certificate of Attendance for inclusion in their CPD records. Our sponsored webinars will still count towards unaccredited CPD hours.
For further information please see our privacy policy https://www.hfma.org.uk/privacy-policy

How are integrated care boards (ICBs) allocated funding by NHS England? In this webinar, NHS England’s Analysis and Insight for Finance team will set out the process and method of resource allocations. The team will explain what data it uses to derive its fair shares model, and how this model uses need and cost adjustments to estimate need for different service components. The presentation will then discuss how the resulting target shares are combined with ICB baselines and a convergence adjustment to result in final allocations.

The webinar will also discuss the latest updates to the model used for the 2023/24 and 2024/25 allocations and underlying data, as well as present what data and supporting documentations and tools have been published. This additional information is intended to support finance professionals as well as analysts in understanding (changes to) their ICB’s allocations and provide supporting evidence for allocating to sub-ICB places, down to the GP practice level.

NHS allocations to ICBs – processes, methods, models and supporting publications

Joined up care Derbyshire (JUCD) is the Derby and Derbyshire health and social care partnership for adults and children. The formal establishment of integrated care boards (ICBs) in 2022 has necessitated working in partnership to meet system-wide financial duties and service delivery targets. Collaboration can be difficult and requires transparent and trusting relationships to be built across the system.

There is increasing recognition that collaboration across organisations as well as interdisciplinary teams, including finance, clinicians, project managers and informatics professionals, is vital for ICBs and wider systems to achieve the Health and Care Act 2022 triple aim of improving health and wellbeing, the quality of services, and efficiency and sustainable use of resources.

However, this must be achieved within financial envelopes and with capacity constraints. Limited availability of additional staff and pressures on physical space are drivers for organisations to focus on improving the use of resources to improve productivity and reduce waste.

This webinar will share what JUCD has learned from using a unified electronic project management office (ePMO) solution to implement a collaborative approach to the development of the ICS. The discussion will cover:
• our approach and the key features of our ePMO
• how ePMO content is driving reporting and assurance across the system
• the challenges we have overcome 
• the benefits we have realised
• where we are going next with development and application of content.

ICS stories: Learning to collaborate using a unified ePMO in Derby & Derbyshire

This webinar will provide further information on the proposed legislative change to allow HMRC to account for taxes already paid by a worker and/or their intermediary when calculating the liability due from public sector clients, where an error has been made in applying the off-payroll working rules. This is a significant area for NHS bodies and we would encourage anyone involved with IR35 assessments in the sector to attend.  

The background to this proposal can be found here, along with a link to HMRC’s consultation on the proposed legislative change and an HMRC factsheet on record keeping requirements for public sector clients. 

The session will be delivered jointly by HMRC and Tax Centre of Excellence. You will have the opportunity to ask questions in the session, or alternatively you can raise questions in advance by emailing tax.coe@justice.gov.uk.

Off-payroll working rules: tax offsetting consultation and potential NHS impact

Introduction to digital healthcare technologies

This webinar will consider the key issues that finance teams need to be aware of when preparing the 2022/23 annual report and accounts.
This is the year that IFRS 16 on leases is finally adopted so the accounts will need to include disclosures about transition as well as the transactions during the year. The Health and Care Act 2022 came into force during the year with obvious consequences for commissioning bodies’ accounts but also introducing new responsibilities for all NHS bodies.
This webinar provides an auditor’s view on the key issues that NHS bodies need to consider as they prepare their annual report and accounts. It will also cover changes to the audit approach that may have an impact on NHS finance teams as well as NHS audit committees.

Year-end issues 2022/23

In 2021 NHS Lothian achieved the accreditation as a Centre of Excellence from NICE in Robotic Process Automation (RPA). This webinar will explain RPA and share the journey NHS Lothian has been on in the development and deployment of ‘Bots’.

The rise of the ‘Bots’ and the automation of administrative tasks

Rise of the bots

IFRS 16 Leases was adopted by NHS bodies from 1 April 2022. The standard has been vexing financial accountants for many years now. However, it will affect more than just the financial and capital accountant.  

Finance business partners, estates staff, procurement experts and anyone who has the authority to sign a contract in the NHS needs to understand what the standard is about so they can call in the experts when needed. Otherwise, there is a risk that funding will not be available, and monies will need to be diverted from elsewhere to fund the unexpected lease.

Introduction to IFRS 16 Leases – for non-finance and finance staff

The Virtually Assessed Patient (VAP) pre chemo/systematic anti-cancer therapy (SACT) assessment clinic at Velindre Cancer Centre has developed out of necessity, partly due to Covid-19 social isolation rules and the need to adapt the way patients are assessed and partly due to growing capacity needs within the consultant clinics. What started out as a project in February 2020 to test the concept is now a fully funded business as usual clinic as it clearly demonstrates both prudent healthcare and also allowing for clinical prioritisation with these clinics. This releases capacity in the consultant led clinics, providing appointment space for those new patients, those more complex patients or patients having scan results.

The VAP clinic is a standalone clinic. Stable patients who are undergoing routine well tolerated  treatment are transferred out of the consultants medical clinic and into the VAP Clinic – a nurse  prescriber lead clinic. It also allows for professional extension of non-medical prescribers working at the top end of their registration by being responsible for the patient cancer journey during the patents time in the VAP clinic. 

Join Tej Quine, Advanced Nurse Practitioner and prescriber, and Michael Stone, Service Improvement and Costing Accountant, as they share their story including the application of digital opportunities along with finance and governance arrangements that enabled this.  

This webinar is the second in our digital and data series, following ‘What can health analytics do for us? An introduction to finance’ which can be viewed on demand here.

The Velindre Virtually Assessed Patient Clinic

Velindre University NHS Trust is underpinning its plans for a new cancer centre with a list of commitments aiming to make it the ‘greenest hospital in Britain’. Join the project team as they share their story and lessons learned along the way.

Towards net zero series: developing the greenest hospital in Britain

Finance staff are used to handling data, but do we really understand the power of the information that the NHS collects and how it can be used by the NHS finance profession? 

In this webinar, David Sgorbati will set out what health analytics is and how it can be used to better understand our populations. Descriptive analytics helps us to see trends and analyse current health needs. Whereas predictive analytics supports planning and the allocation of future resources. 

Underpinning all of this is the need to understand what causes the activity and the trends, so that we can be proactive in our approach to delivering care. 

Through a mix of theory and practical examples, David will describe how finance teams across the UK can make better use of the data available to them.

What can health analytics do for us? An introduction for finance

With unprecedented demands on NHS services, digital transformation is a key enabler for alleviating pressures on services and people. NHS England’s Digital Productivity programme focuses on accelerating the adoption of evidence-based technologies to improve productivity across the NHS and social care.
Join us for this exciting webinar, where the NHS Digital Productivity team will introduce evidence-based digital tools such as robotic process automation (RPA) and automatic identification and data capture (AIDC) such as radio frequency identification (RFID). We will hear how these tools can be – and already are being – used effectively to improve productivity, enabling the NHS to deliver care and treatments to more patients, improve the quality of care, reduce the burden on the workforce, save time, lower costs, reduce waste, and increase patient and staff satisfaction.
The webinar will highlight the resources available to NHS bodies, and the lessons learned by those that have already adopted digital tools including RPA and RFID or real time locating systems (RTLS). The NHS could potentially free up frontline time worth up to £12.5 billion a year – almost 10 per cent of its annual running cost – by investing in a far-reaching programme of RPA.
This webinar will focus on getting started with these digital technologies including identifying the right capabilities and developing a proof of concept. It will discuss the pros and cons of different models and approaches, as well as key challenges, such as demonstrating return on investment. The team will explain how to build a benefits case for automation and share the supporting resources already available to NHS organisations, including their impressive Evidence Based Library, with over 600 case studies for various digital productivity technologies.

Leveraging digital productivity technologies to optimise the NHS: RPA and AIDC

Jacqui Rock, Chief Commercial Officer at NHS England, will invite NHS finance and procurement colleagues to hear more about the next evolution of the commercial service offer for the NHS – the Central Commercial Function (CCF). 

Jacqui Rock will discuss the benefits the CCF will bring to commercial and finance teams in the NHS, including significant potential savings via better data insights through Atamis and the Spend Comparison Service (SCS); attracting and retaining commercial talent; deep dives into areas of category spend and developing category strategies; the development of an NHS commercial strategy and ICS commercial strategies. 

Launched in July 2022, the CCF aims to build a world class commercial community in the NHS, which will help unlock significant commercial opportunities for the NHS (including leveraging NHS buying power where appropriate), deliver value for money for the taxpayer, ensure clinicians have the right products and services they need, and tackle some of our commercial challenges such as supplier resilience.

The NHS Central Commercial Function

The webinar aims to help NHS colleagues understand and mitigate the challenges in developing their digital strategies to maximise the benefits of cloud technology within a financial framework.  
In 2013 the Government published its Cloud First policy. The webinar will look at some of the reasons why cloud first has not seen the anticipated revolution and the misconceptions around adopting cloud technology. It will highlight the advantages that can be gained from using a public cloud for those applications where this is the most appropriate long term solution.
The panel will discuss the different approaches that NHS colleagues can adopt such as software as a service, platform as a service and infrastructure as a service and the relative pros and cons of each.
Also for discussion are the governance and security concerns that arise from the different models and how to best protect your organisation from cyber attack.
Finally the panel will provide signposts on how you can progress your plans and how NHS England’s digital team can engage and support on your digital journey.

Opportunities using cloud to develop digital strategies

This webinar will explain what social investment is and demonstrate how it is being used to improve end of life care in Oxfordshire. 

The webinar will presented by Linsey Lambeth, Social Finance and Macmillan fund lead, along with Jason Dorset, chief finance officer, and Katherine Archer, head of financial performance, from Oxford University Hospitals NHS Foundation Trust. 

Showcasing Social Finance’s largest social investment in health into a provider trust, the webinar will cover: 

using an evidence-based approach and joint analysis to population need and system working 

partnering with Social Finance to fund up-front costs 

using a reduction in avoidable bed days to determine the level of repayment 

explaining how data is being used to identify continuous service improvement 

talking about the application of Social Finance funding for other opportunities where up-front costs can prevent providers from the delivery of long-term improvements 

 

There will be time to ask questions including the governance and accounting implications of the investment.

Using social investment in end of life care to promote innovation in healthcare

HM Revenue and Customs are keen to make sure that no-one misses out on what’s due to them, particularly with living costs rising. 

This webinar will tell you: 

What expenses you might be able to claim tax relief on, including the cleaning and maintenance of work uniforms and work tools, professional body subscriptions, any mileage for using your personal car for work purposes, or even for repairing and replacing your branded work uniform    

Other tax reliefs such as Marriage Allowance 

How to set up a Government Gateway account (you’ll need to do this to make a claim) where you can claim your tax relief for free 

You can ask the presenters questions, too. We will get through as many as we can on the day. Please note that we will not have access to your tax records, so will be unable to discuss personal situations.

The best way to claim a tax refund

Towards net zero : embedding sustainability at Royal Wolverhampton NHS Trust

Cheshire & Merseyside Integrated Care Partnership, building on pandemic momentum, mobilised linked care record and administrative data to better target resources for prevention and care – the System-P programme.

System-P aims to close the gap between data and action to target resources more precisely, preventively and equitably – building on the award-winning Combined Intelligence for Population Health Action (www.cipha.nhs.uk) system.

In this webinar, Wesam Baker, Director of Strategic Analytics Economics and Population Health Management at Mersey Care NHS FT, and Professor Iain Buchan, Chair in Public Health and Clinical Informatics and Associate Pro Vice Chancellor for Innovation, will cover:

• Civic Data Cooperative - people to data
• Combined Intelligence for Population Health Action (CIPHA) – data to analytics
• System-P – analytics to action
• a system-wide approach to intelligence - closing the data action gap
• making prevention, precision and payment more programmable
• the importance of culture and local action
• top tips and scaling across ICSs
• what’s next 

There will be time to ask questions and share your own experiences.

ICS stories: closing the data-action gap for patient and population health

Digital technologies have a huge potential to transform the delivery of healthcare. From the patient’s perspective technology can empower them to participate actively in their care. For NHS bodies, technology can improve efficiency and change the focus to wellbeing and prevention with its associated impact on demand.
However, accounting for innovative digital technologies is complicated and it is not always clear whether the NHS body is purchasing an asset that, in accounting terms, is capital expenditure or a service that is revenue or a mixture of the two. 
Technological solutions can change the patient pathway and often cross organisational boundaries. This, coupled with the move towards integration and system working mean that it is not a single organisation that is accounting for the new solution but several. This also complicates the accounting arrangements. 
As technologies change, so does the delivery mechanism. Cloud computing and software as a service mean that even existing digital solutions may need to be accounted for in a different way. 
This webinar is part of HFMA’s Delivering value with digital technologies programme that is supported by HEE. It will set out the issues that need to be considered when determining the accounting treatment for digital solutions.

Accounting for revenue and capital: implications for the digital age

HFMA

Get powerful finance insights for your business. Connect with experts and colleagues to get the most up-to-date knowledge that will help you to determine which financial factors build or erode value in your organization.

Finance

The accounting and finance community on BrightTALK features presentations from leading accountants and finance professionals. The accounting community includes tax planning strategies, QuickBooks webinars and other accounting webinars, while the finance community features presentations on financial capital regulations and forensic data analytics. Join the conversation by attending live financial and accounting presentations and connecting with industry thought leaders.

Accounting for revenue and capital: implications for the digital age

Presented by

About this talk

More from this channel