NHS organisations are moving towards a system of financial reporting known as ‘Service Line Reporting’ (SLR)
Service Line Reporting is the same idea that’s used in the private sector for tracking the profitability of individual products and services. In the same way that a telecoms company knows the different costs and profits of its Pay As You Go customers compared to its Monthly Contract customers, an acute trust can find out the costs and profitability of performing cataract surgery as opposed to hip replacements using SLR.
If for example you are the Chief Executive of an Acute NHS Trust that is making a deficit, wouldn’t it be a great idea to know whether that deficit was due to a particular procedure that you were carrying out? It could be for example that the cataract surgey you were carrying out was actually very profitable but that the hip surgery was making huge deficits.
If you didn’t know this you may decide to cut costs across the trust to save money when this would have the impact of harming your succesful cataract procedures.
Armed with the knowledge that SLR gives you, you would identify that hip procedures were incurring losses and be able to target those specific procedures for cost saving and efficiency measures. You would also be encouraged to invest in and promote your succesful cataract procedures.
If you want to find out more about SLR, we have the following courses for you:
- The Operating Game provides an introduction to SLR as well as a great intro to finance
- The Mental Health Game also introduces SLR alongside introducing basic finance
- We now have a 1 day SLR course, please contact us on 0845 6076715 or via [email protected]