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Financial modelling within the NHS: Unlocking the power of change

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Financial modelling within the NHS: Unlocking the power of change

Financial modelling within the NHS is a formidable task, but one that holds the key to transformation. With varying capabilities, resource capacities, and levels of digital maturity among different NHS Trusts, there is no one-size-fits-all approach. Financial modelling plays a pivotal role in helping Trusts evaluate and understand the potential fiscal impact of decisions, such as investments in electronic document management systems (EDMS). 

Here, we explore the challenges and opportunities associated with financial modelling in the NHS and introduce a valuable resource for anyone interested in “Building an economic case for an NHS EDMS” – our free guide which is available to download now. 

For many healthcare leaders in the NHS, the appeal of a robust return on investment (ROI) from an EDMS deployment is undeniable. However, creating a comprehensive economic case for such an endeavour can be a tough process. This challenge requires meticulous data collection from various stakeholders, vendors, partners, and consultants across a Trust. The sheer resource commitment required for this process can be overwhelming, especially when competing priorities loom large.

Some NHS leaders, while comfortable with financial modelling, face a different obstacle—the absence of standardised building blocks for an EDMS-specific economic case. Implementing technology solutions like EDMS may be new territory for them, and navigating the complex landscape of advice, jargon, and acronyms can make the task seem daunting. It is essential to simplify and clarify the digital content management technologies that will truly drive change within the NHS.

Then there are Trusts that have yet to embark on their financial modelling journey or are unsure of where to begin. They may not fully grasp the potential cash-releasing benefits that EDMS deployment can bring, leaving them hesitant to invest in this transformative technology.

In a nutshell, creating an economic case for an EDMS in the NHS can be challenging, but it is not impossible. The good news is that with shared knowledge and experiences, we can break down these barriers and drive change. As the enormous potential benefits of an EDMS investment become clearer, the effort required to build the economic case becomes more than justified—it becomes essential.

Download our free guide

For those seeking clarity and guidance in the complex world of financial modelling within the NHS, our new guide, "Building an economic case for an NHS EDMS" is a valuable resource. This comprehensive guide is designed to empower NHS leaders, decision-makers, and professionals to navigate the intricate process of financial modelling and create a compelling economic case for an EDMS.

The guide offers practical insights, expert advice, and a structured approach to building your economic case. It demystifies the jargon and provides a clear path to understanding the transformative potential of EDMS technology. By offering concrete examples, case studies, and best practices, Mizaic's guide aims to equip NHS Trusts with the knowledge and tools they need to take the first steps towards a more efficient, cost-effective, and patient-centred healthcare system.

Financial modelling within the NHS may present its share of challenges, but it is a crucial step on the path to transformation. With the right resources and guidance, NHS Trusts can harness the power of financial modelling to make informed decisions that benefit their bottom line and, more importantly, patient care. 

Our new guide provides a beacon of clarity and knowledge in this complex landscape, serving as a valuable companion for all those looking to unlock the potential of an NHS EDMS. 

Download the guide today and embark on a journey towards a more efficient and cost-effective healthcare system.

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