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Genmed posts revenues of £38.6 million demonstrating continued uptake of vendor neutral managed services in the NHS


Posted: 12th December 2018 09:04

Genmed, a specialist provider of vendor neutral managed services to the NHS, today announces continued strong business performance for its financial year ending March 31, 2018.

Business highlights

Customer highlights

Keith Davis, Genmed’s chief operating officer, says, “It is encouraging to see that the NHS has a tremendous appetite for managed services as a way to improve performance through economic and operational efficiencies. The increase in our revenues for our financial year ending March 31, 2018 reflects this.”

Offering a consultative and holistic approach which takes into account patient pathways and how specific initiatives, data analytics and procurement can impact the care provided and the associated costs, Genmed creates bespoke HMRC compliant managed service agreements which meet the needs of each Trust. This helps to reduce costs, rationalise pricing, improve efficiency, enhance clinical productivity, speed up purchasing and minimise administration and invoice processing.

Importantly, Genmed is not tied to any third-party supplier and selects consumables and equipment based on close collaboration and input from NHS managers and clinicians. Genmed is therefore unique in the market to offer flexible vendor neutral managed services. It works hard to benchmark costs from OEMs and negotiate prices over time so Trusts get the best value for money.

Genmed is not a managed equipment provider or a finance house. Its scope of operation, depth and scale is much wider. It works with Trusts to ascertain the challenges they face financially and operationally and is an integral partner helping them to improve quality standards. Genmed reviews what clinical facilities or technology Trusts need in the context of their workload issues. Genmed then finds and selects suppliers through competitions, drives costs down, puts together the asset funding, oversees the contracts, manages and pays subcontractors and takes all the risk upfront itself.

Robin Modak, Genmed’s chief executive officer, says, “I am pleased to report another successful year for the company. Moving forward, our objective is to not only solidify our position as a leading managed service provider to the NHS by adding more value for our client Trusts, but to also develop and extend our expertise to address new opportunities for the business internationally given increasing pressure on Governments for healthcare provision in Europe and beyond.”

[1] St George’s University Hospitals, Croydon Health Services, Kingston Hospital and Epsom and St Helier University Hospitals

Source: https://www.realwire.com




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