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12 December 2007
Bromley Primary Care Trust (PCT) has won the Health Financial Management Association's Financial Management Award at this year's HFMA awards.
The awards recognise best practice in healthcare management with an emphasis on finance.
The PCT was commended for significant improvements in its efficiency and financial management by implementing and embedding a major change in financial culture across all levels of the organisation. Bromley were one of the first PCTs to join NHS Shared Business Services in July 2005 and this partnership was instrumental in the achievements recognised by the award.
The improvements in forecasting, quality and timeliness of information enabled the PCT to deliver a challenging cost improvement programme of £11.8 million in 2007/08. "Our efforts have been more than rewarded," said Marie Farrell, Director of Finance, Bromley PCT.
Working in partnership with NHS Shared Business Services, we have improved financial control, forecasting, financial awareness and ownership across the whole organisation. The provision of accurate monitoring and financial modelling information has enabled managers to make decisions to deliver improvements in service efficiencies.
"This award exemplifies the efforts of Bromley PCT and demonstrates the benefits delivered by sharing services for the NHS," said Jim Vincent, Managing Director of NHS Shared Business Services. "Since implementation Bromley have made use of every reporting and analysis tool at their disposal to understand their financial position and unlock the benefits from their data. This has given them the capability to make informed business decisions and develop a sustainable environment in which their financial professionals can deliver a winning financial strategy."
The HFMA awards are the key event for the NHS finance profession, recognising the vital contribution that finance staff play in the delivery of high quality, cost-effective healthcare.
