Latest health insights from our spend analytics service
Published: Thu, 28 Oct, 2021
In our October 2021 update on healthcare and spend analytics, we’re shining a light on High-Cost Tariff Excluded Devices (HCTED), and some of the common pitfalls for busy NHS procurement teams.
Since the beginning of this financial year, trust procurement teams have been responsible for validating the volume of HCTED devices purchased and used. The Financial Reconciliation Process (FRP) spreadsheet is released by NHSE on a monthly basis to trust finance teams and they have a limited time to check they’re correct. There’s currently no easy way to do this.
Now, there’s roughly 14,000 products available through HCTED across 16 categories, and it’s growing all the time. It’s easy for stretched procurement teams to miss products in their own inventory when analysing how much of each eligible product has been purchased in the last month. So, we’ve created a matching process that helps identify HCTED products, against your data so you can make sure you’re claiming back everything you can.
We’ve been helping our PD+ customers complete FRP analysis over the last five months and we’ve found a lot of discrepancies where trusts aren't claiming back all the money owed to them. This can be as simple as the wrong NPC being used or items being purchased directly with suppliers that could be purchased through the HCTED route. In one trust we identified a £2.5m discrepancy, year to date.
Here’s our top tips for ensuring you claim back everything your trust is owed:
- Send your FRP workbook to us as soon as you receive it. It typically lands in finance
- We’ll analyse it and return it back to you within 3 working days. Identifying any discrepancies
- Claim what’s owed!
If you’d like to know more about upgrading to PD+, or you’d like to see a demo of our FRP analysis in action, email firstname.lastname@example.org