Partner Article

Advanced to tackle NHS deficit at HFMA Conference

Modern technology key to improving financial planning and achieving savings targets

Advanced Business Solutions (Advanced) will outline how technology can enable NHS providers to achieve transformational change with a collaborative approach to financial planning on stand C8 at the Healthcare Financial Management Association (HFMA) conference (9-11 December 2015, Hilton London Metropole).

Advanced will unveil the latest version of its proven NHS budgeting and forecasting solution, Collaborative Planning, at the annual event.

The system includes new functionality that has been developed to support the Future- Focused Finance (FFF) initiative and NHS England’s care collaboration vanguards, making it easier for organisations to devolve greater budgetary responsibility to clinicians and unlock major efficiencies.

The Government’s Autumn Spending Review announced that the NHS will receive a funding increase of £3.8 billion in 2016-17 to help mitigate growing financial pressures. This will be achieved by front loading part of the £8.4 billion already pledged by 2021. £1.5 billion will be diverted to the Better Care Fund, to support more integrated health and social care.

Nick Wilson, Managing Director of Advanced Business Solutions (Public Sector & Enterprise division), says, “While the Government’s funding increase is welcome, the reality is that the NHS still faces a mountainous task to realise savings of £22 billion by 2020-21.Trusts have amounted a £1.6 billion deficit in the first six months of this financial year, so drastic action is needed to support effective service planning.

“Many NHS organisations must accept that the answers they need do not reside in spreadsheets, but in modern, sophisticated technology which will not only make operations more efficient but support effective strategic decision making through the presentation of meaningful data insights.”

Collaborative Planning provides clear, real-time, end-to-end visibility across the planning, budgeting and forecasting cycle to increase transparency and control within a single, unified solution. The latest version includes new ‘in memory’ processing to offer faster access to accurate, financial information and improved budget modelling capabilities. This in turn helps organisations to increase efficiency and add greater strategic value.

Furthermore, the introduction of separate ‘working set’ facilities, which have been developed in conjunction with one of Advanced’s longstanding NHS customers, enable users to now easily clone data from live budget models. This provides enhanced what-if based decision support capabilities to assist clinicians to maintain tighter control over spending and reduce the risk to frontline service delivery for patients.

Wilson adds, “Forward thinking Trusts that have implemented intuitive budgeting and forecasting software have already realised massive efficiency benefits. By facilitating the greater sharing of up-to-date financial data between finance and clinicians, solutions such as Collaborative Planning are key to creating a better and sustainable NHS.

“Giving managers the ability to assess the impact of their decisions also enables organisations to streamline costs and achieve finance best practice throughout an organisation, maximising value for patients.”

Collaborative Planning integrates with the NHS Electronic Staff Record application and all leading financial management solutions. The web-based system is used by several NHS organisations, including Imperial College Healthcare NHS Trust and Mersey Care NHS Trust.

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Notes to Editors

About Advanced Business Solutions Advanced Business Solutions (Advanced) provides leading integrated business applications and services that enable public, private and third sector organisations to retain control, improve visibility and gain efficiencies whilst continually improving corporate performance. Advanced prides itself on getting close to its customers by understanding their businesses and responding to their evolving needs.

Advanced’s software systems comprise core accounting/financial management, procurement, supply chain management, human resource, payroll and customer relationship management systems. These systems are integrated with a range of collaborative, document management and business intelligence solutions to extend the value and effectiveness of front and back office departments.

Management information systems for school and academies are provided through Advanced’s subsidiaries, Advanced Learning and Compass Computer Consultants. Advanced also provides specialist vertical solutions for the not-for-profit, sports, arts, live events and legal markets. All solutions can be delivered as a managed or bureau service.

Customers are from both the public and private sectors and include Companies House, Newcastle City Council, NHSScotland, Norfolk Constabulary, Edge Hill University, WH Smith, Royal Bank of Scotland, Aer Lingus, National Express Group, DFS, Liverpool FC, Goodwood, CIPD and RSPB.

Advanced Business Solutions is a division of Advanced Computer Software Group Limited, a leading supplier of software and IT services to the health, care and business services sectors. In 2014, the Group won Tech Company of the Year in PwC’s UK Tech Awards. Advanced was also ranked in the Deloitte UK Fast 50, which recognises the 50 fastest growing technology companies in the UK and ranked in the top 300 technology companies in Deloitte’s EMEA rankings.

http://www.advancedcomputersoftware.com/abs/

Press Contacts: Ben Carey and Angela Mycock Advanced Computer Software Group pr@advancedcomputersoftware.com +44(0)1625 856 513

This was posted in Bdaily's Members' News section by Advanced .