NHS Property Services (NHSPS) have announced that they have saved the NHS £250m over the last five years through its cost transformation programme spanning 2,000 initiatives.
The savings will be reinvested back into NHS and could be the equivalent of funding around 68 new GP surgeries or paying the annual salaries of 3,200 GPs.
With an ageing population, the ever-growing costs of the Covid-19 pandemic, and the battle against backlog still raging on, the announcement comes at a crucial time for the health sector.
Mark Smith, Chief Finance Officer at NHSPS, said: “We established the cost transformation programme at NHSPS in 2017 to drive, monitor and report on the progress of our savings targets by tracking and reporting on more than 2,000 lines of activity, including everything from introducing strategic in-sourcing to reducing waste collections.
“I’m pleased to announce that over the last five years, the programme has enabled us to exceed our ambitious target of £176m, delivering a total of £250m cost savings to our NHS partners and customers. This is a fantastic achievement, and the result of true successful collaboration and renewed focus right across our organisation which has enabled us to keep costs to our colleagues in the NHS broadly flat, offsetting some of the inflationary pressures.
“I’m looking forward to continuing to put our customers at the heart of everything we do, including driving and transforming the value we can offer them over the coming months and years, and working with our fantastic NHSPS colleagues who are clearly leading the way with delivering savings and increasing efficiencies for our customers across the country.”
Launched in 2017, NHSPS’ financial teams will continue to evolve their cost transformation programme, with the next steps centred around driving a more holistic view of the value that they can provide to their customers via their approach to sustainability, as noted in their new Green Plan.
NHSPS’ Head of Environment and Energy, Cameron Hawkins, exclusively revealed in our online magazine the extents of their new Green Plan and how it will help the sector reach its sustainability goals. Click here to read the exclusive insight.
