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Olswang Successfully Hosts NHS Financial and Corporate Governance Seminar

Key influencers from across the healthcare industry have gathered together to attend the NHS Financial and Corporate Governance Seminar, hosted by Olswang. The event, which took place on 25 May, was chaired by Dr Neville Bain, Chairman of the Institute of Directors and saw representatives from across the industry come together to join the debate on the challenges currently facing the NHS.

In a time when NHS corporate governance is under significant scrutiny, 96% of the delegates surveyed believed NHS organisations are not as well run as private sector business, with 83% believing that NHS organisations do not have good skills in dealing with the private sector. In light of such statistics, recommendations were made to delegates on the issues surrounding financial cash management, accountancy and the legal challenges facing NHS governing boards.
Speakers from the event included Séamas Gray, finance Partner at Olswang who specialises in the turnaround of the troubled NHS Trusts, Giles Newman, a Partner at Grant Thornton UK and Philip Smith, Director of Adfirmo Group Limited.

[quote top=Commenting on the seminar, Olswang Partner Séamas Gray said] We were delighted to welcome such prominent figures to our firm for a keen debate on the challenges facing NHS governing boards across the country. Much of the information collected from the delegate survey reinforced the need to address the issues surrounding NHS financial and corporate governance. By acknowledging concerns head-on and working in collaboration to find solutions, we hope that events such as ours will go some way towards rebuilding the confidence of many NHS and Foundation Trusts across the country.[/quote] 

Despite only 25% of those surveyed saying their NHS organisation is having to make efficiency savings this year, a quarter of all those in attendance believed the proposed reforms under the Health and Social Care Bill will make meeting NHS efficiency targets more difficult. Interestingly, although 67% of respondents believed that the changes required to effect cost reductions could be implemented without impacting patient care, 83% were doubtful as to whether, in fact, this would be done without impacting patient care.