Blogs / 28.01.2020

Medirest – generating value beyond cost

Our realistic approach means we need to achieve the perfect balance between competitive pricing and delivering value that goes beyond pure price to offer performance with heart.

The fact that we retain more than 98 per cent of our contracts on average, with a 100 per cent retention rate this year, reflects the value our work generates. 

The three elements of generating value beyond your cost targets 

There are three main areas when it comes to how we generate value through examination of the organisation’s financial management methods. 

The three areas are: 

- How systematic benchmarking is used to drive improvement and value 

- What systems are in place to generate relevant, timely and consistent management information 

- How alternative income sources can hold contract costs down 

Using systematic analysis to drive insight and value on a hospital by hospital basis

Benchmarking is a pivotal part of our value proposition. With our deep understanding of the current market we can set realistic pricing levels, but we also constantly need to monitor our performance against our competitors. 

This is why we often introduce independent consultancies to conduct systematic competitor analysis to maximise our efficiency against theirs. To this market context we add benchmarking information, derived from the Estates Returns Information Collection (ERIC) data. This gives insight into the costs for all support services required to obtain and uphold the NHS estate on a hospital by hospital basis, this is then drip-fed into our management system to ensure this type of information and value is delivered throughout all of our contracts. 

Providing consistency in resources to improve and enhance Patient Satisfaction 

Via our Target Operating Models (TOMs) we benchmark our performance across all our NHS contracts. This way we establish precisely how many hours are required to deliver a specified service. We work hard to target and direct our resource allocation, undertaking benchmarking regularly and using insights to ensure our strategies remain productive, working to return revenue and savings to the NHS. 

Adding value is in your hands

Call Brooke Pinkney on 01822 813065 and she can send you a full brochure and case studies of our offers.