Glossary of NHS Finance and Governance Terms (HFMA)

Summary

This briefing from the Healthcare Financial Management Association (HFMA) covers commonly used terminology for commissioners and healthcare providers. Key areas of NHS finance and governance covered by this glossary include:

  1. Budgets.
  2. Commissioning.
  3. Costing.
  4. Contracts.
  5. Financial performance.
  6. Financial planning.
  7. Governance.
  8. Healthcare providers.
  9. Statutory duties.

The following terms are included in this glossary:

  • Accountability.
  • Accountable officer.
  • Activity-based budgeting.
  • Annual governance statement.
  • Annual operating framework.
  • Audit.
  • Audit committee.
  • Benchmarking.
  • Bilateral contract.
  • Block contract.
  • Board assurance framework.
  • Break even.
  • Budget holder.
  • Budget monitoring.
  • Budget profile.
  • Budgetary control.
  • Business case.
  • Business plan.
  • Capital.
  • Capital resource limit.
  • Chief finance officer.
  • Clinical commissioning groups.
  • Clinical governance.
  • Clinical networks.
  • Clinical senates.
  • Code of accountability.
  • Commissioning cycle.
  • Commissioning for quality and innovation.
  • Commissioning plan.
  • Commissioning support services.
  • Community care.
  • Conflicts of interest.
  • Constitutions.
  • Co-ordinating commissioner.
  • Core legal clauses.
  • Cost and volume contracts.
  • Cost centres.
  • Cost drivers.
  • Cost improvement plan.
  • Cost pressures.
  • Currency.
  • Data quality improvement plans.
  • Declaration of interest.
  • Demand management.
  • Direct costs.
  • Distance from target.
  • Earnings before interest, taxation, depreciation and amortisation.
  • Emergency ambulance cost adjustment.
  • External auditors.
  • External financing limit.
  • Financial model.
  • Financial risk rating.
  • Fixed costs.
  • Foundation trusts.
  • Framework agreement.
  • Free cash flow.
  • Full business case.
  • General financial duties.
  • Governing body.
  • Healthcare resource groups.
  • Incremental budgeting.
  • Indirect costs.
  • Internal audit.
  • Joint health and wellbeing strategies.
  • Joint strategic needs assessment.
  • Lay member.
  • Local price.
  • Long-term agreement.
  • Long-term financial plans.
  • Manpower equivalents.
  • Marginal cost.
  • Market forces factor.
  • Multilateral contract.
  • Network arrangements.
  • Never events.
  • NHS Commissioning Board.
  • NHS Constitution.
  • NHS trust.
  • Nolan principles.
  • Non-financial general duties.
  • Non-recurrent.
  • Operational plans.
  • Overhead costs.
  • Particulars.
  • Partnership working.
  • Patient level costing.
  • Payment by results.
  • Pooled budgets.
  • Primary care.
  • Prime financial policies.
  • Private care.
  • Prudential borrowing code.
  • Prudential borrowing limit.
  • Public sector payment policy.
  • Qualified provider.
  • Quality, innovation, productivity and prevention.
  • Recurrent.
  • Reference costs.
  • Referral to treatment target.
  • Register of interests.
  • Remuneration committee.
  • Reserves.
  • Revenue costs.
  • Revenue funding.
  • Revenue resource limit.
  • Running cost allowance.
  • Scheme of reservation and delegation.
  • Secondary care.
  • Secondary uses service.
  • Semi fixed costs.
  • Service delivery and improvement plans.
  • Service level agreement.
  • Service line reporting.
  • Service specifications.
  • Specialist commissioning group.
  • Standards of business conduct.
  • Standing orders.
  • Tariff.
  • Tertiary services.
  • Value for money.
  • Variable costs.
  • Variance.
  • Variations.
  • Working capital.
  • Zero-based budgeting.

Full Text Link

Reference

HFMA (2012). A glossary for NHS finance and governance. Bristol: Healthcare Financial Management Association (HFMA), June 6th 2012. (HFMA Briefings and Policy Statements).

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About Dementia and Elderly Care News

Dementia and Elderly Care News. Wolverhampton Medical Institute: WMI. (jh)
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