This story was first published in digitalhealth.net
Healthcare innovation to bring NHS large savings
The NHS and other public sector organisations have saved £30 million and achieved wider economic and social benefits through just eight SBRI Healthcare projects.
The PA Consulting report, commissioned by the NHS, highlights how the projects delivered a £30 million saving by July 2017, with recurring annual savings running at £19 million. The SBRI projects also attracted £122 million in private investment, delivered £6.4 million in export sales and created 285 jobs.
The report also claims that the NHS could gain further benefits from SBRI, including improving the pace of adoption of successful projects, a stronger commitment to buying these innovations and maintaining a broad scope for potential future contracts.
Karen Livingstone, national director of SBRI Healthcare, said: “SBRI Healthcare is helping to ensure the NHS embraces innovation that benefits patients, saves the NHS money and keeps the service in the vanguard of medical science and development. At a time of budgetary constraint, new thinking and innovative technology should not be seen as a threat to the NHS’s stability, but rather as a key stepping stone towards a successful future.”
PA Consulting has looked at the potential of a further 14 projects to assess future economic impact and estimates that savings to the NHS could rise to between £350 to £480 million in 2022, and £1.2 to £1.8 billion in 2027.
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