HFMA response / The HFMA's response to Monitor's consultation on the introduction of service line management

Our response represents the views of our FT Technical Issues Group – a group established by the HFMA to provide a forum for finance specialists to share ideas and experience and develop practical guidance.

This group has discussed service line reporting and management on a number of occasions and we agree that understanding service-line performance ‘offers a sound basis for improving efficiency and guiding investment decisions’ and that a detailed understanding of the income and costs of FTs’ main services is an important element of sound financial management. It is therefore an approach that we would expect all FTs to develop internally regardless of their financial risk rating as it makes good business sense to do so.