Horizon scanning for Arden GEM CSU: value for money

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Wednesday, 16 October 2019

NIHR 16 October 2019

A report by KPMG has demonstrated that clinical research supported by the NIHR Clinical Research Networks in the three years 2016/7 to 2018/19 generated an estimated £8bn of gross value added (impacts generated through the delivery of clinical research, rather the outcomes of the research itself) and 47,467 full time equivalent jobs for the UK.

In this report, PHE and CIPFA argue that a culture change in the way local organisations evaluate long-term investment in prevention is key to making the most of the proposed shift to Integrated Care Systems by 2021. The overall ambition is to change the way that prevention is considered – it should be viewed and treated as an investment, and properly reported as such. Moving forward, PHE and CIPFA are interested in supporting and challenging finance professionals to pick up these ideas and integrate them into everyday practice.
The report identifies existing tools and resources which could be utilised across different types of intervention, across different organisations and at local, regional or national levels to evaluate preventative investment.
The report concludes that:

1. Use of cost-benefit analysis (CBA) methodology can provide a balanced evaluation of the financial and economic costs and benefits of preventative investment.
2. The Green Book/New Economy model is well-suited to judging the comparative merits of such investments and allows a whole-system view to facilitate decisions on a place-based basis.
3. Using International Public Sector Accounting Standards Board (IPSASB) guidance and the principles of the Prudential Code2 would allow for consideration of the impact of such investment, particularly on long-term financial sustainability, and would enable comparative assessment of investment across time and place.

This framework draws together the key questions asked by the NAO when reviewing major programmes. It was developed for NAO value-for-money auditors to use when reviewing programmes, but may be useful for those seeking an overview of our work on projects and programmes.

The CIA Model is for use by the NHS to support economic appraisals in business cases. It replaces the Generic Economic Model (GEM).
The user guide shows how the CIA Model can be used to support economic appraisals in business cases. It provides guidance on the key economic principles, how these are used in economic appraisals and how the outcome of these appraisals is interpreted.

The Local Government Inform (LG Inform) Value for Money (VfM) profiles bring together data about the costs, performance and activity of local councils and fire and rescue authorities.
The data are displayed in a series of topic based reports that give an overview of the chosen organisation and the services it delivers eg Public health, Children & young people, Adult social care.