Creo Medical Group plc (AIM: CREO), the medical device company focused on the emerging field of minimally invasive surgical endoscopy, announces that NHS Supply Chain data demonstrates significant cost and operational savings provided by the use of Creo’s Speedboat technology in Speedboat Submucosal Dissection (“SSD”) procedures. This is in addition to life changing patient outcomes previously identified by the Company and the ability to positively impact NHS waiting lists.
By analysing 130 SSD patient procedures undertaken at East Kent University Hospitals Foundation Trust (“EKHUFT”) as part of their bowel cancer and therapeutic endoscopy service, and comparing against a similar analysis of surgical alternatives, the data confirmed includes:
The net cash savings referenced were calculated over a one-year period and relate only to the SSD procedure element, and do not include additional benefits and costs savings previously identified and reported by the Company utilising the lifetime horizon Markov model, which included downstream costs associated with recurrence of lesions and procedure-related complications commonly associated with surgical alternatives to SSD.
NHS Supply Chain manages the sourcing, delivery and supply of healthcare products, services and food for NHS Trusts and healthcare organisations across England and Wales. Against the backdrop of ever increasing demands on the NHS and finite financial and operational resources, NHS Supply Chain has embarked on a value based procurement project to work with industry to consider technologies that can influence a reduction in total costs within the patient pathway.
Working with EKHUFT, NHS Supply Chain’s Value Based Procurement team’s case study found that:
“the use of SSD, when compared to surgical alternatives, results in a less invasive procedure for patients whilst maintaining an en- bloc resection with clear margins. The endoscopic nature of the procedure and Speedboat’s advanced energy modalities makes this procedure both safe and effective whilst simultaneously reducing time spent in hospital and providing cost benefits in terms of the material and resourcing costs associated with each procedure.”
It continued:
“Using financial modelling on the data generated, EKHUFT has been able to evidence that the adoption of this novel technology and its implementation as part of a new service has resulted in significant savings for the Trust. The detailed dataset will also enable statistical analysis and health economics evaluations to be successfully undertaken with confidence.”
The data is the first like-for-like, real-world comparative health economic data provided on the service facilitated by Creo’s Speedboat technology. It has been calculated using official NHS data with the analysis conducted using NHS England ‘Approved Costing Guidance’, recognised by all NHS Trusts in addition to industry bodies and includes a breakdown of all comparators, from theatre time to accommodation cost. The data and associated benefits have been captured as part of an official NHS Supply Chain case study promoting innovative technology and how technology can drive NHS savings.
The full case study and a breakdown of results will be published on the NHS Supply Chain website, and NHS Supply Chain will actively work to promote the value proposition of Creo’s Speedboat technology by engaging directly with financial controllers and decision makers at NHS Trusts around the country. The case study will also be shared with the Department of Health and Social Care, NICE and others to illustrate the scope and speed of impact Creo’s Speedboat technology can have, not only on patients and clinicians but on healthcare providers.
Creo has previously received a series of awards from the National Institute for Health and Care Research (NIHR) Invention for Innovation (i4i) Programme to support certain development projects, including the development of Speedboat, which targets innovative technology, with a clear path to commercialisation, that can improve patient outcomes and simultaneously reduce cost. This latest published data from NHS Supply Chain not only reinforces NIHR’s investment decision to support Creo in the development of its Speedboat technology, but clearly illustrates how such investment benefits patients, healthcare providers and the NHS by enabling the development of solutions to address existing and/or emerging health or social care needs.
Craig Gulliford, Chief Executive Officer of Creo Medical, said:
“For NHS Supply Chain to recognise Creo’s Speedboat technology as one of just a handful of cutting-edge technologies from so many indications across the NHS is great recognition in itself. The clinical data clearly demonstrates the level of value Speedboat can bring to the NHS and its patients, in-line with our own previous estimates, which is both gratifying and hugely significant.
“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 NHS Supply Chain to ensure that the successes seen in East Kent University Hospitals with Speedboat are replicated in healthcare settings across the UK. This will enable us to continue to impact on patients and also reducing waiting lists significantly with the level of efficiency improvements this data demonstrates.”
Sandra Owen, Clinical Engagement & Implementation Manager at NHS Supply Chain, said:
“NHS Supply Chain is working on a project designed to consider the potential benefits and practical application of Value Based Procurement (VBP). Here, there is a shift in emphasis from a reduction in product costs to working with industry to consider technologies that can influence a reduction in total costs within the patient pathway, and Speedboat is a good example of this.”
Elisa Llewellyn, Director of Commissioning, Contracting and Costing at EKUFT, said:
“The introduction of this service at East Kent and the pathway it facilitates have immediately had a positive impact not only in terms of patient outcomes but also from a value perspective. With over 200 Speedboat Submucosal Dissection cases now completed at East Kent, our in-depth costing work clearly shows tangible and consistent financial benefits largely stemming from a reduction in the time patients are spending in hospital as a result of our ability to re-direct patients from surgical waiting lists to our excellent endoscopy unit.”
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