Financial Transparency Sees Cash Recovery
Bart’s Health NHS Trust commissioned an Accounts Payable Recovery Review as a risk-free mechanism to identify and recover unknown overpayments that had escaped its own robustinternal systems and processes. The Trust processes a high volume of supplier invoices and conducts self-checks, regularly undertaking reviews with the National Fraud Initiative (NFI).
The Trust understands that overpayments are not always recognised or voluntarily declared by suppliers and that funds can be lost permanently if left unclaimed or if the supplier goes into liquidation.
An in-depth and thorough analysis of Accounts Payable transactions and payments is often time-consuming and resource intensive. For this reason many organisations choose to outsource projects such as these to independent specialist providers.
Rockford Associates Limited extracted 3 years of Oracle AP transaction data. The process was easy and straight forward as no scripting or software development is required. The Trust data was speedily uploaded to Rockford’s secure share file site (Rockford is Cyber Essentials Certified) and Rockford produced AP Analytics reports by running the data through its bespoke data mining software “Pathfinder”.
A senior Recovery Auditor was sent to the Trust to deliver a full end to end review. With access to mail, systems and scanning in place the Auditor identified, verified and recovered a number of overpayments by conducting a seamless statement review whilst concurrently analysing Rockford AP Analytic reports. Service was delivered on site and remotely with minimum disruption to the Trust Accounts Payable and Finance Teams.
The Trust had previously used the services of Rockford in 2013, it was further reassured in 2019 it could speedily engage Rockford’s specialist NHS AP Recovery Services via the Spend Analysis and Recovery Services (SARS 2) Framework Agreement.
The Trust’s approach to Financial Transparency yielded positive results. Rockford Associates analysed over 645,000 past transactions from the Trust’s Oracle Finance System. The review identified, verified and recovered 82 exceptions delivering a six-figure sum which translates into more investment in patient care and services.
The Trust welcomed Rockford’s independent validation and positive reassurance that 99.99% of transactions were processed correctly by invoice value and 99.98% by invoice volume.
Rockford further identified 11,847 inactive suppliers so assisting the Trust to accurately maintain an accurate Supplier Master File database and provided a detailed Findings and Recommendations Report to help prevent future overpayments.
“Bart’s Health NHS Trust is committed to ensure high standards of corporate governance and personal behaviour are maintained in the conduct of the business of the Trust. A main selling point of the service was that Rockford did the legwork in getting the cash physically back for us. That was a valuable resource to us. The engagement provided an independent reassurance and positive
validation that our systems and processes are working well. The review was delivered promptly and efficiently with minimum disruption to day to day business productivity. We will happily recommend Rockford’s Accounts Payable review to any NHS Trust or other body considering a review”
Jasmine Lee – Associate Director Financial Services, Bart’s Health NHS Trust
“The outcome with Bart’s Health NHS Trust is rewarding for both parties. Our relationship has spanned a decade or more and has always proved mutually beneficial. The Trust’s Professional approach to Financial Transparency and the behaviours supporting that process has resulted in significant cash recoveries via Rockford’s specialist NHS Accounts Payable Recovery Review”
Ray Dorney – Director, Rockford Associates Limited
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