Sean White, editor, HTN, says, “We were overwhelmed with the number of high quality entries in the HTN Awards that are truly making a positive impact to health and care. It was really impressive to see the financial savings made by Genmed. Well done to all those at Genmed, you should be very proud.”
LONDON, UK (PRWEB UK) 14 November 2017
Genmed announces today that a partnership with South West London Elective Orthopaedic Centre (SWLEOC) was ‘Highly Commended’ at the Health Tech Newspaper’s Awards 2017.
Entered into the Innovation of the Year category, Genmed has essentially become an extension of SWLEOC’s procurement department buying everything for the organisation. Genmed staff are fully engaged with SWLEOC’s clinical and medical team to source and deliver the best products for the best prices to drive down costs.
Sean White, editor, Health Tech Newspaper, “We were overwhelmed with the number of high quality entries in the HTN Awards that are truly making a positive impact to health and care. It was really impressive to see the financial savings made by Genmed. Well done to all those at Genmed, you should be very proud.”
The Government has cut the tariff for orthopaedics by 13% resulting in an annual budget reduction for SWLEOC of up to £3.5 million. Ensuring that the sourcing of equipment and consumables for the organisation is managed carefully is therefore paramount.
Genmed vendor neutral managed services are HMRC compliant for VAT recovery. Based on the scale of its purchasing, SWLEOC has already saved £1 million on VAT. This is then re-invested in providing ongoing patient care. It is expected that in the financial year ending March 31, 2018, Genmed will procure over £11 million of consumables for SWLEOC.
White adds, “We are very fortunate to be able to report on some great technology projects every day on http://www.thehtn.co.uk and we are extremely proud that our awards has showcased some of these. The HTN Network is growing fast and reaches over 9,000 healthcare professionals across secondary care, primary care and CCGs.”
Vendor neutral managed services is more than just purchasing
Genmed’s engagement with SWLEOC is broad and covers a range of responsibilities:
o Managing the non-clinical activities of SWLEOC;
o Proactive contract management to ensure adherence to Key Performance Indicators and Service Level Agreements involving approximately 300 suppliers;
o Administration and ordering of all equipment and consumables such as syringes, needles, stockings to paper towels, rubber gloves, sutures, masks, stationary – absolutely everything SWLEOC requires to operate on a day to day basis;
o Close engagement with SWLEOC’s Theatre Efficiency Group (TEG). While clinical processes and patient flows work well, an opportunity existed around reducing expenditure. Genmed is working in tandem with the clinical and medical directors to review which products are currently used and test news ones which could work as well but cost less.
o Organisation and management of multiple equipment trials which are evaluated by the TEG group. SWLEOC then applies the 80/20 rule – if 80% of surgeons are happy with a new product, it will be introduced once senior clinical sign off is received;
o Supplier invoice processing and administration;
o Organisation of stakeholder days to encourage suppliers to review and offer SWLEOC better pricing on products given the importance and reputation of the hospital.
Another key benefit of working with Genmed has been the provision of new equipment – the costs of which are spread over its 7-year contract. SWLEOC has already been able to introduce new anaesthesia and ultrasound machines, new theatre tables, specialised IT and patient monitoring equipment for the PACU – an investment totalling over £770,000.
Delving into the data improves the procurement process
After engaging with SWLEOC, Genmed, as part of the services it provides, implemented hTrak, a healthcare information management system, which tracks the usage of consumables and equipment using barcodes.
The system will allow SWLEOC to look forensically at what it’s buying. So, for example, it will be able to review the differences between consultants and what one person spends versus another and make improvements if there is wide variability. This also means SWLEOC will be GS1 compliant well before Government’s target date.
Robin Modak, Genmed’s chief executive officer, says, “We’re delighted our vendor neutral managed services have been recognised by HTN. The lack of capital resources in the NHS together with the need to reduce revenue costs year on year has led hospitals to seek providers who can generate both economic and efficiency gains. Genmed has a ten year track record of delivering both.”
Founded in 2003, SWLEOC is a partnership organisation established by four South West London Acute Trusts to reduce waiting lists and deliver strategic change in how planned orthopaedic care is provided in the region. All orthopaedic work from the four Trusts is now delivered by SWLEOC with over 5,000 procedures performed each year.
Located on the Epsom Hospital site, SWLEOC operates two wards, five state of the art theatres, employs up to 300 staff including 32 visiting surgeons and is recognised as one of the largest joint replacement centre’s in the UK and Europe. It specialises in shoulders, ankles with most of its work focused on hips and knees. SWLEOC also runs a 17-bed post anaesthesia care unit [PACU] which all patients go through after their operations. It unique to the hospital and offers high dependency and critical care facilities.
Founded in 2007 and based in London and Wales, Genmed is a vendor neutral managed service provider specialising in the health sector. It works with 40 NHS Trusts and Health Boards around the country where, to date, it has 220 contracts supporting a variety of clinical disciplines such as pathology, surgery, endoscopy, imaging along with medical records, IT and facilities. Genmed’ asset finance requirements are funded by large blue chip partners including Societe Generale, GE Capital, Macquarie and Lloyds Corporate. Currently Genmed’s contract portfolio totals around £430 million.
Genmed is headquartered in Weybridge, Surrey. For further information, please visit http://www.genmed.eu
For further information, please contact
Tom Herbst PR