Managed service provider, Genmed, opens information office for journalists & analysts covering the NHS and public sector funding issues


April 19, 2017 – The financial pressures facing the NHS again hit the news further to the Chancellor Philip Hammond’s Spring budget. While an additional £425 million is being made available for investment in the NHS[1] – to fund the first set of the best STPs[2] and help cope with demand in A & E this winter – the sad reality is the NHS still lacks the money it needs.

Constrained resources means the health system is buckling under the strain of trying to meet demand yet maintaining standards and services. This capital famine also makes it very difficult for Trusts and Health Boards to introduce the new services they have been instructed to by the Department of Health to do and transition to being digital.

The chief executive of The King’s Fund, Chris Ham, echoes this in his blog, “The inescapable conclusion is that any prospect of increased NHS funding during this parliament is even more remote… The Prime Minister and Chancellor will have to live with the consequences of promises made by their predecessors, and the likelihood of a continuing deterioration in the standards of care patients experience in the NHS.”[3]

However, there are initiatives by private firms to assist. Genmed, a managed service provider specialising in the health sector, today announces the opening of a new Information Office for press and analysts interested in NHS funding and who require commentary from commercial experts.

What’s different?

  • Genmed has introduced funding methodologies to help address the current lack of additional capital available within the NHS to invest in surgery, pathology, endoscopy, IT and information management, facilities and legacy medical records digitisation.
  • Using its managed service model, Genmed works in partnership with Trusts and Health Boards to create a bespoke solution with costs packaged using an umbrella contract with the service billed monthly or quarterly. All project costs are ‘smoothed’ with no big upfront investment required.
  • Genmed is vendor neutral such that if a NHS organisation wants equipment from a variety of companies, this can easily be incorporated with clinicians not forced to have products they don’t want.
  • Genmed approach since start up is closely aligned with all the key directives highlighted by Lord Carter of Coles[4] in his report to improve the efficiency of hospitals.

What’s the benefit to the NHS?

  • Genmed is not a managed equipment provider or a finance house. Its remit is much wider. It is more consultative working with Trusts to ascertain what clinical facilities or technology they need, their workload issues, finding and selecting suppliers, driving product costs down, putting together the finance, managing the contracts, paying subcontractors and taking all the risk upfront itself.
  • Genmed helps NHS organisations to increase their efficiencies and streamline their practices by removing the administration overhead and burden of managing suppliers, dealing with orders and invoices, in addition to contract management.
  • HMRC compliance means the 20% VAT saving on Genmed managed services allows more money to be used for front line activities and the treatment of patients.
  • Genmed’s approach means that its contracts can be self-funding. For example, the company has just partnered with EDMS[5] vendor, CCube Solutions, to offer a fully managed service for Trusts seeking to shift from paper to digital medical records. All costs can be included in this such as the EDMS software, IT hardware and outsourced scanning. To close a medical library and go paperless typically costs more than £1 million. A managed service means a Trust can close a library, get rid of the paper and vans required to deliver them, redeploy people – or reduce headcount – and the cash saved can immediately be used to pay for the service.

How does it work?

  • Genmed’s managed service costs are treated as an operational not a capital expense and are off balance sheet which is critically important for Trusts and Health Boards with no CRL[6] headroom.
  • Not only can project costs be spread out, but under HM Treasury directive rules for contracted out services, public sector organisations including the NHS can recover the VAT which means a 20% refund by HMRC on Genmed managed services billing.
  • Genmed’s actual pricing for its contracts is completely transparent. It charges a 6% fee on cash flows. So, for example, if a managed service contract is worth £100,000 per quarter, the customer will be billed £106,000 plus VAT. It’s simple and straight forward with the whole approach tax efficient making its approach extremely compelling.
  • In line with Lord Carter’s recommendations, Genmed also removes the back-office administration burden of contract and invoice processing from Trusts and delivers this for them ensuring that orders are managed and chased, supplier billing is paid and reconciled, and regular management information is then provided. Given volumes can be high, this is a massive benefit for Trusts who make tens of thousands of orders each year generating hundreds of thousands of invoices. The charges for this are all included in Genmed‘s 6% fee such that Trusts get great value from its managed services.

[1] https://www.gov.uk/government/news/spring-budget-2017-21-things-you-need-to-know
[2] https://www.england.nhs.uk/stps/
[3] https://www.kingsfund.org.uk/blog/2017/03/we-need-talk-about-tax-and-spending
[4] https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/499229/Operational_productivity_A.pdf
[5] Electronic document management software
[6] Capital Resource Limit is the cap on capital spend in a year which a Trust cannot exceed.

Who’s Genmed?

  • Genmed works with over 40 NHS Trusts around the country where, to date, it has 220 contracts supporting a variety of clinical disciplines.
  • Genmed was founded in 2007 and is based in London and Wales. Its contract portfolio currently totals around £430 million. Genmed’s asset finance requirements are funded by large blue chip partners including Societe Generale, GE Capital, Macquarie Bank and Lloyds Corporate.
  • Genmed is an approved supplier on various NHS Framework agreements including NHS London Procurement Partnership, NHS Shared Business Services, NOA and Crown Commercial Services. This means that NHS organisations avoid having to go through the time-consuming and costly OJEU tender process to procure and buy services.

Open during normal office hours, the Genmed Information Office can support you by:

  • Arranging briefings with senior executives who can provide commentary, without hype and hyperbole, about what it is happening today with NHS funding, provision of clinical equipment and IT, views about future trends and so on;
  • Providing access to NHS customers who can speak openly about their decisions to use a self-funded managed service to deliver projects working with Genmed;
  • Discussing how NHS organisations can work with a managed service supplier so the most value is gained from the relationship.

Have any Question or Comment?

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

::::::::::::::::::::::::::::::::::6733:::::::::::::::::::::::::::::::::;;

:::::::::::::::::::::::::::::925:::::::::::::::::::::::::::::::

TRIO STEEL IS ONE OF THE MOST TRUSTED BRAND AND LEADING EXPORTER AND SUPPLIER OF CARBON STEEL, ALLOY STEEL & STAINLESS STEEL PIPES & PIPE FITTINGS MATERIAL. Triosteel is one of the leading Suppliers and Exporters of API 5L Pipe in Singapore. Triosteel also Exports to many countries like Indonesia, Iran, Saudi Arabia & many more. An API 5L pipe is manufactured by adhering to the specifications laid down by the International Organization for Standardization (ISO) 3183.

2780

buy! buy! CHEAP! Telefonie VoIP CHEAP! buy! buy! CHEAP!

2781

buy! buy! CHEAP! Telefonie VoIP CHEAP! buy! buy! CHEAP!

——————————————–

For the 2012 MLB period, we found an totals forecast Joao’s Renowned Over/Under João Zorro Gonçalves, Zcode Totals Pro, System of the time with progressions that have been successful over 98 98% ... We eventually perfected our over/under program ( Zcodesystemexclusive ), although it h-AS has brought years of investigation. Five Steps to Making a Winning MLB Method: 1. Execute appropriate cash management tools. 2. MLB rules that are comprehend. 3.Extensive testing back to make sure successful longterm results ...

——————————————–

There is always a challenge when you're dealing with the Foreign Exchange Market. That's just the nature of the beast. The best thing you can do is to learn about how the market operates as a whole so that you will be ready to meet these challenges. iq option penipu Never be misled by any profit gains in binary options. This is the number-one way traders end up losing their money and ultimately failing. Remember that the same things that make you laugh can make you cry in this market, and you can lose that $700.

——————————————–

Learning Polish has never been this fun and easy as with our podcasts Learn Polish with Polishpod101 Start today and become conversational in Polish in no time

——————————————–

The Best Website Agen Poker Resmi www.sakupoker.com Terpercaya come join

——————————————–

Do you need edmonton phone systems service ? Call complete communications today!

——————————————–

High-tech solutions for easy start-up of your IPTV/OTT-business

——————————————–

——————————————–

If you want to purchase not only one item, you have a chance to enjoy privileges. There is a sale’ tab on the site which offers a fantastic range of reduced counterfeit watches and accessories, such as sunglasses, cufflinks, watch straps and pens. Luxury Jewelry Replica At MCA.MN On Sale You get a 5% discount if you buy two pieces, this discount increases to 10% if you buy 4 pieces or more. There is free international shipping on all orders on this site. We also offer customers a free return anytime with a 100% money back guarantee.

——————————————–