Price Match Scheme Helps Free Up Millions to Fund Frontline Care

Doctors have successfully freed up millions that can be used to help fund the much-nodded frontline care. This feat was successfully achieved by creating a price match scheme, a pioneering idea that has helped drive down the costs for simple items such as surgical gloves and even anti-embolism stockings.

This scheme which the clinicians led in Sheffield saw both patients and staff working closely in order to agree on the right products that they will commit to purchase in bulk. Buying these products in bulk and jointly has actually led to them saving a lot of money in the process.

Hospitals have been using various brands for the various needs that the institutions required on a regular basis. This means that they were actually paying different prices for the same products that were used for the same purpose.

In implementing this scheme, evaluation is carefully carried out on the products to make sure that there is not going to be any difference in terms of the care standard for patients due to the switch. While it is important to find the most cost-effective product out there, it is critical too that the choices are not going to cause the overall quality of the service extended to the patients to decrease. In addition, any concern of the staff pertaining to the effectiveness of the products is heard.

Committing to purchasing a huge quantity of products through the collaboration has led to 100 products that were changed. This resulted in savings that amounted to £2 million. This included the £400 thousands stand-alone savings which resulted purely from switching to only one single type of gloves that are used for examinations.

According to Professor Des Breen of the Integrated Care System of South Yorkshire, it was obvious for them to continue using those products which quality has already been established and which could be procured for less when bought in bulk than when purchased individually. In addition, David Hill Guildford mentioned that it made sense to take advantage of the chance of buying for all of the seven hospitals in a single setting especially since this would mean saving a lot in the process. It was indeed a lot of work. But it was effort that was well worth it especially if one were to think of the extra services that the money they have saved up can be used for.

To make sure that all of the products that were chosen have met strict standards, a scoring system was implemented. Only those products that were able to meet all of the standards were deemed as the best value that was then chosen.

In addition, more opportunities in which the same scheme may be used in order to get more savings are being looked into at present. Other areas in the country are now also considering the possibility of using the same approach that South Yorkshire did.

Keep up to date with the latest updates on healthcare by reading about David Hill Guildford online.

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