Skip to content Skip to main menu Skip to utility menu

Financial Improvement Programme: Ensuring quality and safety is an integral part of getting our finances in order

September 6, 2024

As part of our ongoing financial improvement programme (FIP), we will be bringing you regular updates on our progress and focus features on different areas of work.

Ensuring quality and safety is an integral part of getting our finances in order as we prepare to move to a brand new hospital

  • No cost improvement programme scheme is ever delivered or approved without a thumbs up from the QIA panel (Quality Impact Assessment) and our clinical leadership
  • It’s an integral part of the approval process for any savings or cost avoidance scheme that cannot be skipped
  • This month alone, nine FIP schemes are actively being reviewed and presented to the panel

Why is it such an important part of financial sustainability?

The best practice ethos of any well-run financial recovery programme will put the quality of our services and the safety of our patients and staff at the forefront. These shouldn’t suffer as a result of ensuring we manage our budgets sustainably and effectively. All FIP workstreams are designed with clinical involvement from the outset, i.e. when brainstorming opportunities take place. All our documentation and processes are designed with clinical approval in mind where needed. Some of the FIP workstreams are very clinical in nature, for instance:

  • Theatre improvements
  • Medicines management improvements
  • Outpatients and endoscopy improvements

Even the less clinically oriented workstreams, such as contract improvements, income improvements, and procurement improvements, will seek clinical input before going ahead. We want to start our services at the new hospital with a clean financial slate.

Progress tracker:

  • FIP target: £44.1m
  • FIP identified: £31.2m (risk adjusted)
  • FIP delivered: £ 9.2m
  • Left to be identified: £3.7m (8 per cent)
  • Left to be delivered: £34.3m (78 per cent)

Do you have some thoughts on how we can improve our productivity? How about some ideas for cost improvement projects? Then we want to hear from you – often people working on the front line have the best ideas and this is your opportunity to have your voice heard. No idea is a bad idea.

You can submit your ideas via this online form: https://www.surveymonkey.com/r/financialimprovement