How to use ISFE Metrics to improve financial performance

NHS Somerset ICB, South West, ICB

The problem

ISFE Metrics indicate how effectively an ICB performs financially in comparison to its peer organisations. Overall scores are derived from performance against targets in specific areas.
NHSE, together with NHS SBS, publish best practice guidance in the ISFE environment to help ICBs get the most out of the current system and reporting arrangements.
After transitioning from a CCG to an ICB, and due to an increased volume of work, the ICB’s performance against these metrics deteriorated, having previously ranked within the top 3 performing CCGs.

The challenges

How might we improve our performance against these metrics, re-establish our position within the top performing organisations and improve our financial processes and procedures to ensure compliance with the ICB’s financial system controls, and standing financial instructions?

What were/are the outputs?

• Improved financial procedures to ensure tasks are performed in an efficient and effective manner.
• Excel spreadsheet with macro to run non-PO report to analyse information.
• Excel spreadsheet with macro, Power BI connections and formulas to analyse control accounts.
• Excel spreadsheet with macro to create an outstanding invoices report per Oracle user.

What were/are the outcomes?

• Individuals benefitted from structured and efficient work, they know what they need to do and are more efficient.
• The team know what everyone is doing and can help each other with work in a more effective way.

The Innovation

Read the full innovation on How to use ISFE Metrics to improve financial performance

All documents and resources relating to this innovation can be found in the downloads section at the bottom of the page.

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What the peer-reviewers said

“Great to highlight the move from CCG to ICB and monitoring finance performance given the level of moves and loss of corporate knowledge.”

“I like the use of macros to make sure time is spent reviewing the right areas.”

“Great idea to use macros to focus review and analysis.”

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Downloads

Innovation E7 – QSL NHS Somerset ICB Aug-23 – Powerpoint

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Innovation E7 – QSL NHS Somerset ICB Jul-22 – Powerpoint

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Innovation E7 – Key financial systems report – pdf

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