In the October 2009 issue of Healthcare Finance from the Healthcare Financial Management Association (hfma), there’s a short article by Peter Reeves, NHS non-executive director and former finance director, setting out his views on what lessons NHS governance can learn from the banking crisis.
The hfma article is based on a longer article submitted by Peter. Healthcare Governance Review is grateful to Peter for allowing us to share his longer piece with readers.
In his article, Peter succinctly compares and contrasts the differences, and similarities between governance in the banking sector with that of the NHS. He concludes that “the banking failures do indeed provide clear governance lessons for the NHS centred on the understanding of risk, the imperatives of sound information, individual board members’ responsibilities and the need for an ethos of rigour and continuous challenge, especially in areas lacking historic corporate expertise or demonstrable management capacity. Not new lessons, perhaps, but a reinforcement of where priorities always need to lie – but too often don’t. NHS boards, and Finance Directors individually, should not miss the opportunity to reassess their own situations accordingly and in light of increasing funding pressures.”
Read Peter’s full article here – Article_for_Healthcare_Finance