Managing financial risks (1 CPD hour)
Dr Peter Patel provides advice on how to protect yourself against an overspend.
Dr Peter Patel provides advice on how to protect yourself against an overspend
This module offers advice on managing financial risks, including:
- Understanding the whole budget
- Planning for insurance risk
- Reducing your systems risk
- Sharing or insuring against risks
After reading this article you will be asked to record your learning points and some action points to earn a suggested 1 CPD credit. Below are some suggested questions to reflect on as you work through the module:
- Could you use data at to plan interventions for risk reduction
- Do you understand service risks and have access to secondary uses service data and financial information?
- Does your consortium have a population of less than 500,000, making it difficult to manage financial risk?
- Could you create financial risk pools to manage risk associated with closures of essential service providers?
This module was first published on 4th May 2011 and was up to date with all key guidelines and evidence at that point. It will be reviewed as part of our routine update cycle by 4th May 2013 but will be updated sooner to reflect any key guideline changes.
Dr Peter Patel is CEO of South Birmingham Independent Commissioners
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