NHS Finance Crisis Solved With More Efficient Procurement Solutions
Posted on: 25/11/14
“It’s been tough balancing the books in the last few years and been getting tougher, with next year likely to be the toughest yet. We’re finding it more difficult to identify areas in which to make big savings which we can then reinvest in patient care, like saving £1m by procuring our supplies better and using that money to employ more consultants in our emergency department. That means we’ll really struggle financially to keep providing the level of services we provide now,”
– Chief Executive of Addenbrooke’s hospital
- The Guardian, (2014). ‘NHS finances in crisis due to rising demand and budget cuts’. Online <http://www.theguardian.com/society/2014/oct/05/nhs-finances-crisis-rising-demand-budget-cuts-30-billion-pound-deficit-2020> Access Date: 30 October 2014
The present and future outlook on the NHS is proving to be tough with such rising demands and cuts to budgets.
After reading this article we are desperate to reach out to Addenbrooke’s Hospital to show how we could potentially help them produce savings for the future so they can reinvest in patient care.
However as the NHS budget is very much at the forefront of the news, we want to reach out to EVERY NHS Trust and show how we are currently helping four large NHS Trusts save time and money by improving their data management around contracts that they have in place with their supply chain.
At Target we offer our cloud based contract management systems; Accord. Accord allows procurement, purchasing, materials managers and buyers carry out tasks more effectively by having a centralised system so that all supplier contracts can be accurately assessed, shared and reported.
Our contract management system was created in collaboration with the Head of Procurement at Salisbury NHS Foundation Trust. This has provided us with a platform that caters to NHS work flows and the requirements needed within procurement departments.
As Target is a software company, we have created Accord so it can be adapted and tailored to meet any requirements that clients hold. We have developed our base system of Accord to have an equipment management functionality for Hampshire Hospitals Foundation Trust. This is currently working in conjunction with their maintenance contracts; at a glance they are able to see how much spend is being made in excess in their maintenance contracts, which in turn allows them to see not only value for money but make an informed decision on the additional costs which outweigh the cost of a new piece of equipment.
We have evidently helped reduce costs by creating business management systems with our clients; the article provides evidence there is need within the NHS for a solution that will in turn save money in the procuring of supplies and the maintenance of equipment and ultimately help invest the saved costs in providing a better level of services in regards to patient care.
Posted by Olivia Davies