The Department of Health’s finance and accounting joint venture with IT outsourcing company Xansa will start on 1 April.
Since the announcement of the venture last year, 47 NHS organisations have signed up for the joint venture’s finance and accounting services.
Known as NHS Shared Business Services, the 50/50 joint venture company offers NHS bodies guaranteed cost savings and reduced capital expenditure.
The venture is also designed to reinvest £220m into front-line patient care.
Around 230 staff based in the existing NHS Shared Financial Services Centres in Leeds and Bristol will transfer to Xansa on 1 April 2005.
Under the joint venture agreement, Oracle Financials 11i will be available to all NHS trusts.
NHS Shared Business Services is in discussion with a number of the 28 strategic health authorities, which represent around 560 NHS organisations, to take control of the majority of their financial transaction processing.
The joint venture is also in discussions for the transfer of payroll services. If successful, this would allow NHS Shared Business Services to offer managed payroll services as well as finance and accounting services.