NHS foundation trusts are contributing billions to the regional economy, a new report published today by the Foundation Trust Network (FTN) and Barclays says.
As provider organisations to the Health Service, foundation trusts such as Great Western Hospitals NHS Foundation Trust, care for hundreds of thousands of patients each year in the South West.
However, their broader impact on the economy has gone unnoticed. The new report sets out the economic and social value generated by the 17 foundations across the South West for the first time and reveals they contribute £2.7bn each year by supporting local businesses and providing employment for thousands of people.
These figures include food and other goods bought from local suppliers, their world-class research, and construction work on new buildings and other projects.
FTN chief executive Chris Hopson said: “In the current economic climate, it has never been more important to capture and share the full value of the foundation trust model in local communities, including the economic investment made in local areas, the employment generated and the wider social benefits created by their services.
“The research demonstrates that every trust in the NHS plays a vital social function by helping people improve their health and wellbeing, and by treating illness and injury safely and effectively. I am delighted that this report celebrates and shares the added value trusts can play in every region by acting as responsible employers, reducing the environmental impact of the organisation and by delivering a range of long-term social benefits.”
Barclays Healthcare South West director Tony Kear added: “Foundation trusts are at the heart of their communities and this research, for the first time, values this contribution at £30b annually to the UK economy. Showcasing the foundation trust as a vital component of local lives, from the number of people they employ, to local community initiatives.
“Any changes to the healthcare system must therefore acknowledge not only the clinical impact, but also the wider implications such changes could have. What is very clear is that the foundation trust model is about more than delivering care, it is also about the broader responsibility it has to its local community.”
CASE STUDY: The Great Western Hospitals NHS Foundation Trust provides acute hospital services at the Great Western Hospital in Swindon and community health and maternity services across Wiltshire and parts of Bath and North East Somerset.
Staff are encouraged to attend regular staff briefings which are an opportunity to hear about the latest hot topics in healthcare, such as the recently published Francis Report. The briefings allow staff to discuss what the hot topics mean for the local healthcare community, share ideas and ask questions directly to the chief executive of the trust.
The trust recently hosted its own ‘Dragons’ Den’ where staff were able to pitch their ideas to improve patient experience. The event was a celebration of innovation across the trust and highlighted that the strongest ideas for improving patient care come from frontline staff.
Staff health and well-being is an absolute priority in the trust and employees are offered regular health checks and flexible working to support work-life balance. There are also numerous personal development opportunities, including a range of training courses and a mentoring scheme.
