Innovative Funding Model Providing Saving for Trusts and Health Boards

The funding pressures in the NHS are widely reported, with constraints on all sectors of the NHS. 

This week, a new type of managed service model was announced by GENMED and CCube Solutions, offering NHS trusts and health boards a cost effective managed service transition from paper to digital medical records.

“The NHS is experiencing a capital famine at present. The huge upfront capital costs of software systems and back scanning make it difficult for Trusts and health boards to introduce the new services they have been instructed to by the Department of Health.

Our managed service model provides a practical, straightforward revenue based way to solve the paper problem as it spreads the costs out and means it’s treated as an operational not a capital expenditure”.

-       Robin Modak CEO, GENMED


The Principles of the Funding Model

GENMED and CCube Solutions will work together in partnership with NHS Trusts and Health Boards to provide a bespoke solution.

It will include CCube’s electronic document management software, project management, IT hardware & support, maintenance and all the legacy records back scanning – irrespective of whether this is outsourced to a third party or processed in-house.

GENMED managed services are HMRC compliant for VAT recovery and off balance sheet – an important factor for NHS trusts and health boards as many have limited CRL headroom.


How GENMED Can Help Trusts & Health Boards:

GENMED support Trusts and Health Boards through carefully designed managed services contracts, tailored to suit our customer’s requirements.


How GENMED Help: 

  •       Establish suitable clinical facilities or technologies
  •       Analyse and identify workload issues
  •       Find and select suppliers
  •       Reduce product costs
  •       Reduce and manage financial costs
  •       Manage the contracts
  •       Manage orders and supplier invoices
  •       Take upfront risk
  •       Avoid time & cost consuming OJEU tender processes
  •       Provide access to capital via Genmed’s blue chip panel of funders

Importantly, GENMED is vendor neutral. This ensures that if a Trust or Health Board would like equipment from a variety of companies under GENMED’s managed service contract they are not limited, nor are they restricted to take products that are not best in the class.