We took a top-down approach to assessing the impact of these patient flow improvements on the Trust. We simulated what the costs to deliver care and income received would have been had the Trust continued to operate as it had in 2013/14, including how many more beds it would need to have opened. We then subtracted these simulated costs and incomes from actual costs and incomes to understand the opportunity saving it benefitted from in making those patient flow improvements, accounting for the cost to implement those strategies.
Incorporating this NUH-specific analysis into an interactive budget-impact model with data for all Trusts allows the patient flow improvements at NUH to be benchmarked against other Trusts. This is allowing Nervecentre to understand the unique impact that it may have had in helping not only NUH but each of its customers make patient flow improvements. The model is also allowing Nervecentre to identify which Trusts could most benefit from implementing Nervecentre in future, and it is supporting their sales negotiations.
JB Medical has a proven approach and method for creating budget-impact models that allow its MedTech clients to gain insights extending far beyond an immediate cost-effectiveness assessment. It is proud to provide its clients with assessments and tools with which to understand the pricing model their innovation could support, to calculate the value it could bring to specific stakeholders, and to inform sales and customer relationship strategies.
Hot off the press
We've just published a paper in the Journal of Medical Economics showing that adding the Parkinson’s KinetiGraph (the PKG, a wrist-worn movement recording device that collates continuous, objective, data during daily activities in people with Parkinson’s disease (PD) providing a report for clinicians) to standard monitoring of PD is a cost-effective option.