According to current NHS supply chain statistics, Creo Medical Group PLC’s (AIM: CREO) Speedboat technology considerably lowers costs and increases patient outcomes in minimally invasive procedures.
The case study examined 130 Speedboat submucosal dissection (SSD) surgeries performed at East Kent University Hospitals Foundation Trust and found that, in comparison to conventional surgical techniques, there were notable savings in hospital stays and critical care expenses. In particular, it showed a 99% drop in critical care expenses and an 87% reduction in the average length of hospital stays.
The average cost of accommodation for each patient decreased by 91%, from £3,400 to £300, while the cost of admission decreased by 62%. The total expenses per patient decreased by 59% in a year, from £8,800 to £3,600. Furthermore, there was a 38% decrease in the expenses related to theater treatments. From the 130 SSD operations examined, the improvements resulted in net cash savings of £687,000 for the NHS trust during the course of the year.
The lifetime horizon Markov model employed by Creo, which takes into consideration downstream expenses associated with recurrence and difficulties frequently encountered with traditional operations, discovered additional long-term benefits and cost reductions that are not included in these data.
According to the NHS Supply Chain Reports, which acquires and distributes healthcare goods and services, it is carrying out its value-based procurement initiative. The project’s goal is to work with the industry to reduce overall costs in patient care pathways in the face of increasing demand and constrained resources. The technology offered by Creo Medical Group is positioned as advantageous, offering potential benefits to health and the economy.
“With this data, no longer based on modelling but gained by looking at every aspect of a comprehensive data set of real cases, we look forward to working closely with the NHS Supply Chain to ensure that the successes seen in East Kent University Hospitals with Speedboat are replicated in healthcare settings across the UK,” said CREO Craig Gulliford.
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