IMD were retained to support a medium sized Foundation Trust which was under scrutiny by the independent regulator, Monitor.
The Trust had been challenged with the daunting task of turning around its failing financial situation whilst at the same time improving service delivery.
Our brief was to support a full review of activity, service delivery and financials.
Greater Value through Organisational Transformation
IMD has a proven, pragmatic methodology for systematic review. We engaged clinicians and managers in the process and scrutinised the top seven specialties of the Medical Division.
We used our diagnostic tools to review activity, financial and performance measures, establish key market and competitor information, distil skills and capacity gaps and identify key divisional improvement challenges.
There were operational issues to resolve, but also some great opportunities including a 160 bed opportunity, offering a potential saving of £6m.
Our key insights were that the issues faced by the Foundation Trust were fundamentally about process, workforce and assets. Solving these problems was going to require transformational change.
Based on our findings we delivered a detailed proposal and action plan for each specialty which would address the issues and improve EBITDA.
Result: More for Less – and a Bright Future
Our recommendations were accepted, with issues currently being addressed, service delivery improving and savings coming through. Furthermore, managers and clinicians now have a much clearer understanding of the Division from a business perspective and are able to relate actions and processes to delivering better value. Engagement of the clinical workforce in the project has improved communications significantly, particularly in the area of bed management, which was previously a frequent point of crisis.
Overall, the Foundation Trust is now in a position to move forward, confident that good patient care can be maintained, along with firm financial management.