Althea’s services are addressing the challenges faced by NHS Trust finance directors, by delivering significant cost savings and performance improvements for diagnostic imaging services at a time when concerns over financial pressures and year-end deficits are higher than they were two years ago.
The latest King’s Fund quarterly monitoring report – ‘How is the health and social care system performing?’ (January 2014) states “More than one in five trusts…report possible overspend by the end of this financial year.” Of the trusts surveyed in the report, 22% now predict a deficit in the 2013/2014 financial year, the highest proportion since The King’s Fund began reporting on the financial state of the NHS in 2011.
The report highlights the growing financial pressures faced by the NHS more than two-and-a half-years through the “most significant period of financial constraint in its history”, with prospects beyond 2015 looking even more challenging. Approaching 2014/2015, it is stated that almost two-thirds of trust finance directors rate the risk of failure to meet the objectives of The Nicholson Challenge – which set out to achieve productivity gains to the value of £20 billion in five years – as high or very high.
With the huge pressure on the NHS to deliver efficient procurement strategies, Althea can help Trusts make direct savings by converting the lifetime variable costs of managing their critical equipment services into efficient and predictable operational costs.
Jason Long, Business Development Director at Althea says, “This latest report from The King’s Fund indicates a level of pessimism amongst Trust finance directors about their ability to deliver future savings and productivity gains. Althea’s current range of services is proven to achieve the right balance between delivering high quality services and meeting financial targets. Althea offers robust, unbiased support for clinical service delivery. Third-party providers have a wealth of clinical expertise, technical excellence, and commercial understanding that trusts can utilise to remodel the way they plan their medical facilities.
By giving the responsibility for all equipment-related service to a third-party, Trusts can achieve better efficiency and productivity all round – achieving that fine balance between cost savings and quality.”