As we are all acutely aware, the NHS is facing its largest ever efficiency challenge. As a publicly funded body, it is under huge pressure to identify , implement and deliver sustainable cost improvements.
EFM Consulting can support and guide you through the following process in relation to Cost Improvement Planning:
Identification of Opportunities through thorough budgetary investigation;
Implementation of a robust Cost Improvement Strategy and Programme;
Delivery of the Cost Improvement Programme.
It is very clear that CIPs are fundamental to a Trusts’ financial plans; however, whilst they are primarily designed to save costs within an organisation, it is of great importance to recognise that they can also transform service delivery and improve the patient or service user experience.
In order to achieve the objectives, the CIP requires robust programme management and a clear communication strategy in which engagement, governance and accountability are key.
CIP is a continual process to ensure sustainability with five key stages which should be followed in order to manage successful programmes:
Benefits of engaging EFM Consulting to support you:
Deliveryof the service by a front line professional with extensive and demonstrable practical experience in Cost Improvement Planning and delivery;
Extensive knowledgeof “Best Practice” and effective solutions from within your sector;
Expertise exposurewithin your specific sector;
Professional project managementby a PRINCE2 Practitioner;
Continued personal support from a named individual;
Tiered and scaleable levels of Consultant involvement;
Independent and objective Change Management Skills
Until recently, Paula Stone was employed within the NHS as Assistant Director of Estates. This role followed her joining the NHS in 2008 as Head of Estates after eight years in a Commercial position with Lloyds Bank plc.
With a proven track record and extensive experience in strategy development and implementation, Paula works in a number of disciplines within estates, including rationalisation programming and cost improvement planning. She is highly competent in improvement planning and budget management and brings with her excellent financial analytical skills and a demonstrable history in the implementation of efficiencies from baseline budgets. She is also competent in the writing of business cases from Strategic development to income generation, estates rationalisation and capital investment.
Paula is a PRINCE2 practitioner and is experienced in programme management.
EFM can support you through the above stages
What do we offer?
Initial Review of strategic and business plans to ensure that the proposed CIP supports the current strategy. This will include input from other services within the trust, to include the Finance directorate and their five year financial plan. This process will encompass the commissioners plan to ensure consistency with local partners;
Identification and review of schemes using information gathered within the initial review. Assess the overall programme and consider the feasibility of each scheme and its impact on services;
Development of detailed project plans for each scheme, ensuring vital input from the relevant stakeholders. Outline business cases to be written and presented where required;
Governance and accountability structure of overall programme to be agreed and applied to all projects, including risk registers, QIAs and frequent review meetings;
Weekly monitoring and reporting, at directorate and board level, accurately reflecting CIP performance in finance reports;
Continuous evaluation of the programme, taking corrective action when required and report by exception;
Support and guidance for staff to keep savings plans on track and meet milestones;
Implementation of effective controls to ensure the quality of underlying data are reliable for effective monitoring and reporting.