MOD009382 Finance and Governance in Health and Social Care 011 Assessment Coursework Report

ASSIGNMENT INSTRUCTIONS

WRITING YOUR ASSIGNMENT:

• This assignment must be completed individually.
• All courses of study must use the Harvard referencing system for written assessments, apart from LLB/LLM courses where OSCOLA should be applied. Please see the below link for guidance:

https://library.aru.ac.uk/referencing/referencing.htm

• Your work must indicate the number of words you have used. Written assignments must not exceed the specified maximum number of words.  When a written assignment is marked, the excessive use of words beyond the word limit is reflected in the academic judgement of the piece of work which results in a lower mark being awarded for the piece of work (regulation 6.74).
• Assignment submissions are to be made anonymously. Do not write your name anywhere on your work.
• Write your student ID number at the top of every page.
• Where the assignment comprises more than one task, all tasks must be submitted in a single document.
• You must number all pages.

SUBMITTING YOUR ASSIGNMENT:

• In order to achieve full marks, you must submit your work before the deadline. Work that is submitted late – if your work is submitted on the same day as the deadline by midnight, your mark will receive a 10% penalty. If you submit your work up to TWO working days after the published submission deadline – it will be accepted and marked. However, the element of the module’s assessment to which the work contributes will be capped with a maximum mark of 50%.
• Work cannot be submitted if the period of 2 working days after the deadline has passed (unless there is an approved extension). Failure to submit within the relevant period will mean that you have failed the assessment.
• Requests for short-term extensions will only be considered in the case of illness or other cause considered valid by the Director of Studies Team. Please contact DoS@london.aru.ac.uk. A request must normally be received and agreed by the Director of Studies Team in writing at least 24 hours prior to the deadline.  Students will need to provide evidence to support their extension request. See rules 6.64-6.73:

http://web.anglia.ac.uk/anet/academic/public/academic_regs.pdf

• Exceptional Circumstances: The deadline for submission of exceptional circumstances in relation to this assignment is no later than five working days after the submission date of this work. Please contact the Director of Studies Team – DoS@london.aru.ac.uk. Students will need to provide evidence to support their EC claim. See rules 6.112 – 6.141:

http://web.anglia.ac.uk/anet/academic/public/academic_regs.pdf

ASSIGNMENT QUESTION: 

Please read the following scenario:

You have been appointed as a financial analyst to a London-based NHS Trust Hospital. You have been told that the hospital plans to open a dental clinic in the South Wing with a budget of £6 million. Senior-level staff were only able to put up a preliminary budget and cost plan. You have been asked to consolidate and analyse the plan, perform financial forecasting and come up with innovative ways to reduce expenses and improve financial performance. Your report should include an appraisal of the proposed project; effective ways of obtaining funding for the project and a recommendation to the hospital.

Background 

According to a report commissioned by the Association of Dental Groups (2022), over the last 30 years, NHS dental services and dental workforce planning in England have been neglected. The situation has worsened significantly as a result of the COVID-19 pandemic and Brexit. There were an estimated 8 million people on the NHS dentist waiting list by 2020. Due to the difficulty of getting access to an NHS dentist, the poorest patients often end up paying the price in large parts of the country. According to the most recent data, only a third of the population has visited an NHS dentist in the previous two years. England now has the fewest NHS dentists in ten years. Recruitment is now practically impossible in rural and coastal towns, especially in the East of England and funding has remained static for the previous ten years (a real terms drop after inflation). The report suggests that the only realistic solution to the crisis is overseas recruitment.

Regular dental check-ups are an essential first line of defence against type 2 diabetes and mouth cancer. Dentists frequently identify the early symptoms of these diseases and regularly provide vital referrals for specialist care for patients. The report further states that ‘the early detection of mouth cancer boosts a patient’s chance of survival from 50 per cent to 90 per cent.’

In order to raise revenues and help the country with the backlog, a London-based NHS Trust Hospital is considering opening a dental clinic in the South Wing to treat both NHS and private patients. Priority will be given to disabled patients and children. The NHS Trust will cover the initial costs out of pocket, but in the succeeding five years will receive £6 million in total from the Department of Health and Social Care that will be distributed equally over the period.

The NHS Trust will employ more dental therapists who require a shorter training period than dentists to help with the backlog. They will perform procedures such as scaling and polishing, dental X-rays and tooth extraction (Band 1).

The hospital plans to initiate the following setup: A 1000-square feet medical building will be rented for a five-year term at £22,000 per year. The clinic will incur an initial cost of £0.6 million for the purchase of dental equipment and the setup to deliver high-quality care. The clinic will operate 24 hours a day, 7 days a week, with no closures. 

Data file

Initial cost:

Infrastructure and equipment costs: £0.6 mln

Ongoing operational costs

Insurance: £1,100 per year

Utilities: £32,000 per year

Medical supply: £65,000 per year

Other running costs: £8,000 per year

Overtime costs: £26,000 per year

Treatment Costs & Revenues

Band 1: £23.80 per patient (30 patients a day)

Band 2: £65.20 per patient (21 patients a day)

Band 3: £282.80 per patient (5 patients a day)

Hygiene cleaning: £80 per patient (20 patients a day)

Dental accessories sales: £12,000 per year

Staff Costs:

Dentist: £65,000 per year (x1)

Dental Therapists: £47,000 per year (x3)

Dental Hygienists: £37,000 per year (x2)

Administrators: £24,000 per year (x2)

The required rate of return: 3.5%

Inflation: 0%

Assignment Task 

You are required to prepare a report, using the information provided above, covering the following areas: 

1. Create a spreadsheet model and analyse the projected financial performance of the proposal over five years. Critically evaluate the proposal using investment appraisal techniques. (30 marks)
2. Revise the proposal in (a) and provide innovative ways to reduce expenses and improve financial budgeting. Identify the type of budgeting that would be suitable for the proposal and explain why. (20 marks)
3. Discuss traditional sources of financing and explain how they differ from NHS funding. (20 marks)
4. Identify and discuss the UK Government’s six-point action plan for dentistry by referring to the report published by the Association of Dental Groups (2022). Critically evaluate the potential impact of the action plan on patient care. (20 marks)
5. Report structure and presentation. (10 marks)

ASSIGNMENT GUIDANCE

In writing your report you are expected to use theoretical tools that you have studied during the course and from your research and make reference to credible evidence. The format for a report is available on the VLE.

At least 8 independently researched academic sources from the ARU library are expected.

ASSIGNMENT CORE READING

Atrill, P. & McLaney, E. (2022). Accounting and Finance for Non-Specialists, 12th ed. Pearson.

Bandy, Gary (2024). Financial Management and Accounting in the Public Sector, 3rd edition, Routledge, London. Available through Kortext and/or ARU Library.

Brigham, E.F. and Houston, J.F., (2021). Fundamentals of financial management: Concise. Cengage Learning.

Bragg, S. M. (2017). Budgeting: A Comprehensive Guide, 4th ed. Accounting Tools Incorporated.

Dyson, J.R. and Franklin, E. (2020) Accounting for Non-Accounting Students, 10th edition, Pearson

Frost, S. M. (2024). Financial Accounting and Reporting for Non-Accounting Students (1st ed.). Kogan Page.

HFMA Introductory Guide to NHS Finance (2023). HFMA

Kimmel, P. D., Weygandt, J. J. & Mitchell, J. E. (2021). Financial Accounting: Tools for Business Decision Making, 10th ed. Wiley.

Please note that the sources listed are expected for your written assessment. These sources will be part of the module and their content is deemed necessary to produce a relevant assessment. Module markers will expect to see them integrated into your work and appropriately referenced.

Failure to include these sources may result in a “Viva Voce” meeting during which you would be required to explain your work and your reasons for not including these key sources.

MARKING CRITERIA

Assignment submissions will be marked with reference to the below criteria, as summarised in Table 1, based on ARU Level 7 generic grading criteria, Table 2.

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