Hampshire Primary Care Trust Controls £150 million Worth Of Assets With Asset4000 From Real Asset Management

Hampshire PCT selects Asset4000 to manage assets across its two departments, NHS Hampshire and Hampshire Community Healthcare

Hampshire Primary Care Trust, the largest PCT in the country, has selected Asset4000 from Real Asset Management (RAM) to manage its £150 million worth of assets. Asset4000 will provide the Trust with a centralised asset register which can ensure the detailed level of component accounting required across both PCT departments, NHS Hampshire and Hampshire Community Healthcare (HCHC), streamlining business processes and enabling significant time and cost savings for the regional Trust.

In line with Lord Darzi’s NHS next stage review and the NHS operating plan, Hampshire PCT recently made the decision to separate the organisation into NHS Hampshire – the commissioning side of the PCT, and the Provider service HCHC in order to re-focus not only local hospitals, GP surgeries and Trusts but also recognising the need for an importance placed on its community healthcare. The new structure will continue to work under the directive of Hampshire PCT but will enable local people to receive high quality care in the most appropriate setting.

The Hampshire PCT’s £150 million asset base includes land, buildings, medical equipment, furniture and IT equipment, all of which will be recorded at a component level for each entity in order to provide detailed information and values on each asset in each department. Tomono Griffiths, Financial Accountant at Hampshire PCT, comments, “With RAM’s Asset4000 solution we now have a greater understanding of the PCT’s financial status as a whole as well as the ability to define and record what property is owned and managed by each department of the PCT including intricate details such as depreciation for all of our assets.”

Griffiths continues, “Another key benefit of the system, and one which influenced our decision to select Asset4000, is its integration with our existing SBS Oracle Financials system.”

Asset4000 controls, tracks and records all changes that occur within an asset’s lifetime to provide accurate, up-to-date and historical data from the point at which the asset was acquired, in addition to providing users with comprehensive reporting capabilities. Griffiths adds, “Throughout the year we are required to supply a multitude of complex reports and with Asset4000 we are able to produce these reports for HCHC and NHS Hampshire in an instant. Our previous system involved a laborious manual database search for figures in order to then construct our own reports, which was an extremely time-consuming job. The process has changed dramatically with Asset4000, from a task that used to take up to a day to complete to now, a five minute exercise.”

By providing this level of asset reporting Asset4000 will assist Hampshire PCT to comply with the International Financial Reporting Standards (IFRS), which comes into effect for NHS organisations in 2010.

The solution will help streamline business processes and will enhance efficiencies across the Hampshire PCT, allowing the finance department to easily provide the necessary reporting for both the commissioning and provider departments of the organisation. “RAM has given us a user-friendly and transparent asset register, allowing Hampshire PCT to manage our budgeting and balance sheets at a greater level, an essential for any NHS organisation in the current economic climate.”

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