Genmed announced in August that it has been selected by South West London Elective Orthopaedic Centre (SWLEOC) as its preferred vendor neutral managed services provider for the procurement of all equipment required for the running of the specialist hospital.
It has a signed a seven-year contract renewable annually by agreement thereafter.
Founded in 2003, SWLEOC is a partnership organisation established by four South West London Acute Trusts to reduce waiting lists and deliver strategic change in how planned orthopaedic care is provided in the region. All orthopaedic work from the four trusts is now delivered by SWLEOC, with over 5,000 procedures performed each year.
Located on the Epsom Hospital site, SWLEOC operates two wards, five state-of-the-art theatres, employs up to 300 staff, including 32 visiting surgeons, and is recognised as one of the largest joint replacement centres in the UK and Europe. It specialises in shoulders and ankles, with most of its work focused on hips and knees. SWLEOC also runs a 17-bed post-anaesthesia care unit, which all patients go through after their operations. It’s unique to the hospital and offers high dependency and critical care facilities.
Mary Richardson, SWLEOC’s director, explains: “Genmed has essentially become an extension of our procurement department, buying everything for the organisation. Its staff are fully engaged with our clinical and medical team to source and deliver the best products for the best prices, so we drive down costs.”
This is crucial as the Government has cut the tariff for orthopaedics by 13 per cent, resulting in an annual budget reduction for SWLEOC of up to £3.5 million. Ensuring that the sourcing of equipment and consumables for the organisation is managed carefully is therefore paramount.
Genmed managed services are HMRC compliant for VAT
recovery. Based on the scale of its purchasing, SWLEOC has already saved £1m on VAT. This is then re-invested in providing ongoing patient care. It is expected that in the financial year ending March 31, 2018, Genmed will procure over £11m of consumables for SWLEOC.