Comment / Moving on up

The HFMA Board met in July for a regular meeting against the backdrop of an ever-changing NHS. Discussion as always focused on the HFMA and its members and the current changes both in policy terms and in terms of the association’s business. One always informs the other because we try to be one step ahead to help and support members and the wider finance community.

Generally, the association and associated companies are in pretty good shape. Some branches are struggling to run a full programme, but not through want of trying. There is pressure on time locally and the simple fact that long-serving members are retiring or leaving the service.

An issue that will be of great interest to members is that the financial health of the association remains reasonably strong. For 2010/11 we are expected to announce a healthy surplus for the whole group on a turnover of about £4m. 

This is a tremendous result, particularly as it goes a long way to achieving the target we outlined in the five-year strategy published last year.

Much of it is the result of the commercial sector’s support for us at conferences and at other times. We are also very grateful for all the support the NHS gives us, particularly in relation to events where attendances are holding up. Our strategy is to continue to grow our business even in this tough market – we know a downturn in our own fortunes could happen at any time.

Part of the Board discussion was around our investment strategy and how we put our assets to work. We are considering purchasing a conference facility in London to provide a venue for our conferences and generate further revenue. This idea is still at the embryonic stage, but it would mean we would have a real presence in London to influence debate. 

We are also investing resources in other areas. My colleague Martin Walsh has been appointed to a new role within our commercial company, HFMA Commercial Services. His job will be to seek out new opportunities for this commercial entity to provide the HFMA with further income and added value services for organisations.

We are also investing in our members. The Take control programme has been very successful, with hundreds of people attending programmes across the country. There are a few English seminars left as well as further work this autumn for the devolved nations. We hope to do more in that area and I will let you know when plans have been finalised.

In addition, we are ploughing resources into our policy side, in particular media and PR. We see these as long-term ventures because they involve building good relationships with the press to help get our message out.

Finally from me, a brief reminder that the full version of the annual conference brochure is now out. We have introduced a new concept this year, the Learning Lab – starting with a whole afternoon of seminars for you to enjoy on the Wednesday. Put together directly in response to the feedback we have received, we are confident that this will be a successful additional element to the conference.

If you haven’t booked for the event yet, please don’t hesitate to do so. Once again, it will be the conference in healthcare finance.