National Health Service Announces £2.1 Billion Budget Increase for IT and Digital Technology Infrastructure Across England
TORONTO, Nov. 02, 2021 (GLOBE NEWSWIRE) — VitalHub Corp. (the “Company” or “VitalHub”) (TSX: VHI) is pleased to share news of a recently announced increase in National Health Service (NHS) funding across England. The new budget was released on October 27th, 2021 and included a £2.1 billion capital allocation earmarked to improve IT and digital technology infrastructure across the NHS.
- NHS England announced £2.1 billion novel funding to improve IT and digital technology infrastructure across the NHS.
- COVID-19 has exacerbated existing patient flow issues across NHS; Five million currently waiting to be treated
- Through acquisitions of the Oak Group, Intouch with Health Inc., and Transforming Systems, VitalHub well positioned to address newly funded needs.
COVID-19 has exacerbated existing patient flow issues across the NHS. As a result, the government is taking further measures to help reduce the backlog of patients awaiting tests and scans. With more than five million people waiting to be treated by the NHS in England, with hundreds of thousands waiting over a year, a solution is direly needed. This budget increase is intended to improve Trust infrastructure across the NHS in England. In turn, increased infrastructure and resources is supposed to help with patient flow.
VitalHub’s patient flow and other products solutions are well-positioned for continued expansion across the NHS, offering solutions in-line with the intended use of this increased funding to improve IT and digital technologies across trusts. The goal of this funding is to assist in reducing patient backlog by increasing broadband speed, increasing productivity and efficiency, modernizing technologies.
Through the acquisitions of the Oak Group, Intouch with Health Inc., and Transforming Systems, VitalHub has established a broad portfolio of best-in-class IT and digital health products that effectively address these needs.
The Oak Group is a software and service provider of its propriety ‘Making Care Appropriate for Patients’ (“MCAP”) System. MCAP can be used in an audit fashion to understand clinical inefficiencies in patient flow and as a basis to improve patient flow in real time. MCAP identifies patients that are clinically suitable for discharge or non-admission.
Intouch with Health offers a suite of solutions that help enable patient access outpatient care within Trust networks, processing approximately 41% of all NHS outpatient attendances, or 52 million outpatient appointments annually. The Intouch platform uses real-time data and integrated blended pathways to improve patient flow and support more effective patient care; increasing organizational efficiency to deliver an improved patient experience.
Intouch with Health’s Flow Manager is an integrated software dashboard that provides staff with real time patient oversight, seamless intra-trust coordination, and effortless organization. The Patient Flow manager optimizes efficiency, which enables greater productivity. Increased efficiency and productivity capability make Flow Manager integration a meaningful allocation of new NHS funds.
Synopsis iQ offers an in-Trust pre-operative assessment tool, comprising a comprehensive, automated pre-operative assessment tool that covers the entire process from initial questionnaire through post-op outcome. This tool has demonstrated the ability to cut cancellation rates, improve staff efficiency, and increase patient flow. As a major contributing factor to current patient backflow is understaffing, the Synopsis IQ epitomizes the modern technology, enabling increased staffing efficiency, the new funding is ascribed for.
Transforming Systems captures and processes high quality data to facilitate secure, real-time analysis and forecasting. Through the provision of actionable insights, Transforming Systems augments decision making processes. Moreover, the highly advanced data collection tools lead to improved organizational efficiencies tied to resource utilization. Again, as a large contributor to the patient backlog across the NHS in England is attributable to organization inefficiencies and antiquated technologies, the Transforming Systems Elective Solution is well-suited to address the issues intended to be solved through the new funding initiative.
These acquisitions have contributed to VitalHub’s extensive product portfolio, comprising best-in-class solutions that are equipped to address the intended objectives of the £2.1bn government funding for new technologies. The Company has established a considerable presence in the NHS network, continuing to grow its footprint having experienced in excess of 30% YoY organic growth across its recurring revenue stream, led by the UK products.
“We’re excited to see the UK government’s full-strength support for innovative digital health solutions,” said Dan Matlow, CEO of VitalHub Corp. “At present, we have penetration of at least one product being used across 70% of the NHS. We believe the company is well positioned to meaningfully compete for access to this £2.1 billion funding. The backlogs experienced through COVID-19 are still being felt today. We are delighted to participate in helping patients get the care they need and are confident in our ability to make an impact in trusts across the NHS. We see this funding as an opportunity to extend our existing organic growth and further integrate our products across the trust network.”
Software for Health and Human Services providers designed to simplify the user experience & optimize outcomes.
VitalHub provides technology to Health and Human Services providers including; Hospitals, Regional Health Authorities, Mental Health, Long Term Care, Home Health, Community and Social Services. VitalHub solutions span the categories of Electronic Health Record (EHR), Case Management, Care Coordination, Patient Flow & Operational Visibility, and DOCit Mobile Apps.
The Company has a robust two-pronged growth strategy, targeting organic growth opportunities within its product suite, and pursuing an aggressive M&A plan. Currently, VitalHub serves 275+ clients across Canada, USA, UK, Australia, Qatar, and Latvia. VitalHub is based in Toronto, Canada, with an offshore development hub in Sri Lanka. The Company is publicly traded on the TSX under the symbol “VHI”.
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