The difference a day makes: Working day one reporting

Ben Roberts

Management in Healthcare: A Peer-Reviewed Journal, 2016, vol. 1, issue 3, 204-216

Abstract: Bolton NHS Foundation is a medium-sized Integrated Care Organisation, based in the North West of England, delivering services across both the acute hospital and community healthcare sector. The purpose of this article is to explain the approach taken by Bolton NHS Foundation Trust's finance department's project to improve its approach to financial reporting. Reducing the time scale for reporting from 15 calendar days to 1 calendar day. The article looks at how the project was approached both from the technical and cultural change that was required to deliver this innovation in financial reporting. It also reviews and analyses the correlation between the delivery of the project and the improvement in the Trust's financial position, as well as improvements in staff engagement within the finance department. Working day one reporting has won various awards regionally and nationally across both the public and private sector. This paper covers the following areas of this innovative journey to deliver what many thought was an impossible vision: where we started, how the challenge was framed, project approach, supporting mechanisms, audit and assurance, the key to success and the difference it has made, as well as how the learning has been shared.

Keywords: management information; month-end reporting; management accounting; financial reporting; budget management; financial turnaround (search for similar items in EconPapers)
JEL-codes: I1 I10 (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:aza:mih000:y:2016:v:1:i:3:p:204-216

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