Developments in Financial Management Systems
Article Abstract:
With increasing political pressure and decreasing allocations of funds, it is becoming evermore necessary for appropriate financial management in the National Health Service (NHS) in the United Kingdom. To achieve this goal, better information is required. Not only cost and expenditure figures, but also manpower and workload figures are required to provide appropriate information to managers. At present the Magee system is in use in eight hospitals across Britain. It divides expenditures by specialty which gives the management a basis of comparison. The Clinical Accountability Service Planning and Evaluation, run by Iden Wickings, is another alternative, but it requires commitment and involvement from the clinical staff unlike Magee. The information provided is more useable. The last approach is Financial Information Project which is a patient costing system that is hoped to break information down to its smallest component and therefore be aggregated in different ways. The United States is using a patient costing system, taken one step farther to diagnostic grouping, in seven states for financial reimbursement. Computerization would greatly enhance information production in the health services.
Publication Name: Public Finance and Accountancy
Subject: Business
ISSN: 0305-9014
Year: 1983
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Financial Management in Central Government
Article Abstract:
Prime Minister Margaret Thatcher of the United Kingdom calls for a Financial Management Initiative (FMI) in the federal government. Besides the support of the Prime Minister, there are other prime motivators for introducing and improving financial and management information systems. The FMI requirements included developing in each department a plan of organization so that managers at all levels would clearly understand goals and objectives and how to evaluate output according to them, as well as their responsibilities and how to exercise them effectively. A diagram of the FMI systems illustrates four integral parts: 1) top management system, 2) financial information system, 3) management information system (MIS) and 4) management audit. Traditional government accounting has consisted of cash-based recording of transactions. Management systems are difficult to implement in government for several reasons: there are no carry-forward methods, delegation framework does not presently exist, and departmental costs overlap. The change required by this system will be immense with considerable time needed for training and implementation.
Publication Name: Public Finance and Accountancy
Subject: Business
ISSN: 0305-9014
Year: 1983
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Payment by Tape Exchange
Article Abstract:
The Greater London (England) Council and the London Electricity Board (LEB) have computerized payments and invoice management. They exchange computer magnetic tape in processing energy accounts. The benefits of this arrangement include improved accuracy, savings of staff resources, record-keeping capability to produce energy consumption and fuel efficiency reports, and the timely settlement of accounts. Three files are first created - on accounts file, tariff file and control file. The processing system includes several checks for errors or queries including large amounts, deletion of accounts, non-consecutive invoices, consumption out of expected range and others. A monthly analysis will be provided. All information is accessible during working hours. After two years of implementation, sufficient data should be available for statistical analysis.
Publication Name: Public Finance and Accountancy
Subject: Business
ISSN: 0305-9014
Year: 1983
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