It is no secret that the UK’s National Health Service (NHS), like many other healthcare systems, is under pressure on multiple fronts. The recent independent investigation of the National Health Service in England, or the ‘Darzi report’, describes how waiting time targets are being missed across the board – at GP surgeries, community and mental health services, accident and emergency, and for routine surgery and treatment as well as urgent cancer and cardiac services.[i]
Diagnostics delays in the UK
An ageing population is identified as the most significant driver of increased healthcare needs, since it is often accompanied by long-term conditions such as diabetes, breathing difficulties, or depression. It is estimated that by 2040, 9.1 million people in England will be living with major illness, an increase of 2.5 million people compared to 2019.[ii]
Early and efficient diagnosis is critical to enable early treatment and reduce avoidable admissions. The Darzi report highlights that underinvestment in diagnostics extends the stay of patients in hospital, lamenting that, “Despite the first clinical use of MRI taking place in an NHS hospital, the health service has far fewer MRI and CT scanners than comparable countries. Moreover, many of the machines are old: this means that they are less powerful and so take longer for each scan and that more time is lost due to breakdown and maintenance.”
Why go mobile?
One solution to expand diagnostic capacity is to increase the use of mobile diagnostics services. Most imaging types now have mobile versions, including ultrasound, X-ray, MRI, CT and PET. These have multiple advantages. Hospitals that do not currently have the capacity to set up new diagnostic centres can immediately benefit from high-quality equipment by bringing a mobile unit on site. This also minimises transfer time between departments or even hospitals, meaning the patient receives a faster diagnosis. Mobile diagnostics services can be deployed according to demand and need, helping the NHS and private healthcare providers in the most pressurised hospital or in remote areas.
However, mobile diagnostics units require a significant capital commitment, and, in addition to the cost of obtaining the equipment in the first place, providers may need to upgrade the equipment periodically. This is where specialist financiers can support, enabling investment by spreading the cost over an agreed period, and in alignment with the expected benefits. Specialists bring in-depth understanding of the industry and the technology, so they can offer a solution that is a better fit than standard financing terms.
Custom solution for London cancer hospital
In one example, Fairford Medical Ltd deployed equipment and technology finance from Siemens Financial Services to provide mobile MRI scanning for a London cancer hospital.
Fairford Medical Ltd, a family-owned Managed Equipment Services provider, launched in 2016 and has since supplied rental contracts for medical imaging equipment in mobile and relocatable forms for NHS and private healthcare clients across the UK.
One customer, a prestigious cancer hospital in London, required a high-quality MRI mobile unit while rebuilding and replacing its onsite scanning centre over a 9-month period. Fairford did not yet have a unit suitable to the hospital’s technological or spatial requirements and therefore needed to custom-build the solution.
Matthew Bradfield, Managing Director, Fairford explains, “We recognised a growing market demand for these types of high-spec mobile imaging solutions, so we wanted to invest in upgrading our fleet.” At the time, Fairford was technically a new-starter and therefore wanted to preserve cash flow and avoid a significant capital outlay. The company turned to Siemens Financial Services (SFS) for a tailored leasing solution.
Affordable investment in mobile diagnostics
As Bradfield explains, “We wanted to use equipment from Siemens Healthineers and who better to understand the nature and purpose of a particular model than SFS. That integration was a huge benefit throughout the process.” As Fairford wanted to keep monthly payments manageable, SFS suggested a hire purchase arrangement. Under the agreement, Fairford paid the VAT upfront and had fixed low monthly instalments, enabling a transparent payment plan. At the end of the arrangement Fairford will automatically own the equipment outright.
The company built a relocatable trailer in Holland, equipped with a MAGNETOM Aera 1.5T MRI from Siemens Healthineers. The scanner enables a higher throughput of patients per day and accommodates a large variety of patient sizes, shapes, and conditions without compromising on image quality. “Since installing the unit, the hospital has been able to support patients during renovations,” adds Bradfield. “Not only do we have a happy customer, we already have multiple requests for the mobile scanning unit once this contract ends.”
Sally-Anne Whybrow, Sales Manager – Public Sector and Healthcare Finance at Siemens Financial Services comments, “The success of the mobile unit thus far demonstrates the growing demand for the solutions that Fairford offers. Finance from SFS helped the business to expand faster and we hope to continue to support Fairford’s expansion in the future.”
This is a story of how one business leveraged private finance to grow faster, but it also demonstrates the power of financing and of private healthcare providers in alleviating some of the burden on healthcare services. Mobile imaging centres can make a real difference and specialist finance providers are well placed to enable a broader rollout of mobile services.
By Sally-Anne Whybrow, Healthcare Business Development Manager, Siemens Financial Services
We’ll be at UKIO on 2-4 June at Stand A11, so if you’d like to connect in person and learn more about how we can help support investment in diagnostics, meet us there.
Learn more about the range of healthcare finance solutions here. SFS has also produced a Healthcare Leaders Briefing Series that explores the priority investment areas for transformative healthcare. Read the reports and sign up to receive updates here.
[i] https://assets.publishing.service.gov.uk/media/66f42ae630536cb92748271f/Lord-Darzi-Independent-Investigation-of-the-National-Health-Service-in-England-Updated-25-September.pdf
[ii] https://www.health.org.uk/news-and-comment/news/25-million-more-people-in-england-projected-to-be-living-with-major-illness-by-2040
