Is your practice struggling with budgetary uncertainty?
Since the NHS began restructuring earlier this year, the National Audit Office (NAO) has pointed out a number of issues relating to managing the change. These focussed on a number of different areas, but one of the main issues was uncertainty around CCG budgets.
The report published by NAO highlighted that “limitations in the accuracy of budgetary data supplied by PCTs meant that budget allocations for 2013/14 did not reflect previous spending patterns as closely as intended.”
The trusts have been expected to split their spending to reflect the reformed health system, with responsibility for commissioning being shared between a number of different authorities. This task has not been as easy as expected however, and PCTs have faced a range of challenges in implementing this.
Pulse recently posted an analysis of the NAO findings and budget issues in general.
Budgeting monthly NHS income is vital when attempting to maximise your practice finances. Over 3,000 UK practices currently use IRIS GP Accounts to help keep a tight hold on their finances and the automatic link with Open Exeter helps practices achieve this. Reporting on other aspects of your practice finances is also a simple process in IRIS GP Accounts and practices often use these reports to manage their finances monthly and annually.
Interested in seeing how IRIS GP Accounts could help you stay on top of your practice finances? Why not book onto a free online demonstration and let us show you why so many practices use our software?