NEW FUNDING SOURCES NEEDED FOR TRANSFORMATION

In the HSJ of 2nd April, Anita Charlesworth and Richard Murray discuss the difficulties of getting funding for NHS organisations to try out new services whilst still maintaining delivery of existing ones and call for a new transformation fund. Their comments are as applicable to new MedTec
products:

They recognise that current business cases are limited to showing where an investment in a new service (or product) can recoup financial benefitsin the same organisation and not in other organisations or indeed outside health all together.

TO BE NHS READY:
Have you identified and mapped all the stakeholders that can influence the
decision to try and buy your new product or service?

They also identify that there is the problem that certain types of costs
are not supported by any of the existing investment approaches.
In particular, it is difficult to raise funding to manage the process of
change from one model to another. This includes provision for so called
double running costs as the new model is tested is parallel with current
services, or where the benefits of the new model take time to be realised.

TO BE NHS READY:
Have you got a win:win business model to make it easier for your customers
to try your product or service?

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