SWLEOC partnership with Genmed ‘highly commended’ at HTN Awards 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 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.”
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 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.”