BT Global Services has until very recently been a shining star of the telecoms giant, and even after its shock profit warning last week, the division still accounts for £9bn of the group’s £20bn revenue.

In all the recrimination, resignation and share price falls since the financial announcement, one potential aspect of Global Services’ problems has been little discussed.

I’ve heard a few people wondering how much of the division’s troubles are down to its involvement in the NHS National Programme for IT (NPfIT).

BT is one of only two major contractors still involved, along with CSC. Accenture and Fujitsu have already pulled out due to concerns over potential losses, and BT had been expected to pick up the region ceded by Fujitsu’s departure.

Former NHS IT director general Richard Granger negotiated some tough terms and conditions for the key suppliers to the programme – in particular, that payments would be made on delivery of finished product. This is great news for the NHS – now that key parts of the project have been delayed, it doesn’t have to worry about the costs of software and services that are not yet fully operational.

This was a big factor in Accenture’s withdrawal as the supplier saw its costs increasing and its revenue being pushed further into the future.

In the early days of NPfIT, former BT chief executive Ben Verwaayen was asked by reporters about the impact on the firm’s bottom line, and he proudly explained that BT had not budgeted for a profit from the programme for some time ahead, seeing it as a long-term investment. A wise move – but one now wonders exactly when those profits were expected.

The core part of NPfIT –electronic patient records – is an area BT is most exposed to, and is the area most delayed. Recent reports suggested that many NHS trusts are refusing to implement software until they can see it working elsewhere. Considering that one of the BT pilot sites, the Royal Free Hospital in London, has just revealed it lost £7.2m due to the project, it isn’t looking promising.

BT meanwhile, is funding development and providing services to implement software and try to make it work – essentially without getting paid for it.

There has been no official word from BT one way or the other, but observers cannot help but speculate that the troubled National Programme may be a factor in Global Services' current struggles.

And if it is, and BT feels it has to reconsider or renegotiate its involvement, then the risks to the NHS IT scheme would be significant.