Keeping pace with technological advancements requires considerable capital expenditure. It is becoming essential for hospitals to seek new and sustainable ways of investing in new technology. Chris Wilkinson reports.
The UK public healthcare sector is experiencing serious pressure to reduce spending. The Government previously announced that public health budgets will be reduced by a further £200m as part of a programme to bring down public debt.1 The NHS has already implemented a number of changes to make savings and improve productivity. The resulting cuts make it increasingly difficult for NHS hospitals to provide the quality of care needed in order to cater for a growing and increasingly ageing society. Official figures released in May 2016 showed that ambulance Trusts, hospitals and other healthcare services in England had a record deficit of £2.45bn in 2015/16.2
Against this background, increasing investment in medical technology and equipment may not seem like sound advice for NHS Trusts. The expected cost of equipment, maintenance and replacement technology may discourage potential investment. Austerity measures have, however, already resulted in the continued use of ageing diagnostic imaging equipment across the EU.3 The long-term costs of using out-dated equipment for patient diagnosis and treatment can often outweigh the shortterm expense of its replacement or upgrade. This is because deferring investment in technology can directly impact productivity and quality of care.
Additionally, the gains in efficiency and productivity that can be achieved through the use of modern technology may well more than compensate for the costs of the investment overall. In the long run, new equipment and technology can even help public healthcare providers reduce costs associated with diagnosing and treating patients. With the use of state-of-the-art medical equipment hospitals can significantly optimise processes; reduce patients’ length of stay and cut down overall surgery duration. Costs for personnel and material usage, as a result, decrease. Patients, moreover, benefit from less invasive therapies, quicker healing and higher overall chances of recovery.4 Public healthcare providers are therefore looking for financially viable ways to invest in modern equipment in order to realise the benefits of its use.
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