Long Term Financial Model
Since 2006 we have worked on more than 50 LTFMs with trusts and foundation trusts across England. NHS Improvement's recent updating of the LTFM indicate that it will continue to play a key part in any financial modelling that the regulator requires from providers.
Whilst the LTFM was initially designed as the financial model component of foundation trust applications it is now used to asses the impact of capital cases and mergers between provider organisations.
Our key learning has been that provider organisations need to adequately stress test their LTFM and also make a concerted effort to keep it up-do-date. Anticipating the regulator's potential queries can also help to considerably speed up the process of creating a robust LTFM.
NGH has worked with Assista during the past twelve months to develop its Long Term Financial Model and Financial Strategy. We have always found the service we receive from Assista to be extremely valuable and their wider experience of the NHS a considerable benefit in our planning. Above all we find the team at Assista are willing to offer practical advice to all levels of the Trust helping to engage non-financial staff and board members in financial planning
Briefing Note 87 gives an overview of all the changes made to the latest version of the LTFM
Our article in the HFMA magazine on the LTFM
Briefing Note 45 looks at the mitigations and sensitivities that can be used in an LTFM
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