Financial Governance, Capacity and Capability

In-Form Solutions were commissioned by the Chairman and CEO to undertake a sensitive piece of work regarding the financial management and leadership at the Trust. Medway NHS Foundation Trust is a £320m single site hospital and has faced significant financial and services challenges over a number of years.

The work was carried out through informal and formal interviews, observation at key meetings and desk top reviews of key documents working with Trust Board members and senior managers. In addition to the primary brief, support was also provided to the Trust’s Financial Improvement Director.

The key outcomes were:

• A confidential review of the capacity and capability of the senior Finance Team.
• A review of the current functions and structure of the Finance function including the capacity and capability of the workforce, whether the function was ‘fit for purpose’, and options for improvement.
• Development of a simple self-assessment diagnostic tool for the key functions of the Finance Department.
• An assessment of the financial information produced for Trust Board, Finance Committee and operational uses, including reporting processes and whether this met the needs of the users.
• A review of financial forecasting and cash management arrangements requested by the Chairman following an external report received at the Barking, Havering and Redbridge NHS Trust.
• Support to the development of more effective business planning and contract management including the arrangements for costing and pricing.
• Supported an analysis of the Trust’s structures and processes to deliver an ambitious cost improvement and efficiency programme.
• Assisting the Director of Estates in establishing a new Capital Group.