Aug 02, 2023

Philips and KFM introduce new partnership to help more NHS Trusts sustainably transform patient services

Farnborough, United Kingdom – Royal Philips (NYSE: PHG, AEX: PHIA) - a global leader in healthcare technology, and KFM, a leading provider of healthcare support services, have today entered into a partnership to deliver more innovative end-to-end services to Trusts across the UK.

The agreement announced today will see Philips and KFM provide more opportunities for NHS Trusts to transform their Interventional Radiology and Cardiology patient care through greater access to innovative technologies, improved efficiencies and cost savings that will enhance both staff and patient experience, whilst improving sustainability. Through their shared focus on Cardiology, Philips and KFM will also aim to improve the quality of diagnosis and treatment for cardiovascular diseases: a key ambition of the NHS Long-Term Plan.

The partnership unites KFM’s award-winning clinical procurement, supply chain and logistic capabilities and Philips’ expertise in end-to-end integrated solutions, allowing the potential to address even the most complex clinical and operational challenges.

Through this new way of working, NHS departments will be able to transform their service by receiving support with the procurement and management of both medical consumables and imaging equipment under a single agreement. This includes state-of-the-art innovation using the Philips Azurion platform, which has been designed to optimise lab performance and provide superior patient care. This partnership model will lead to increased service efficiency for NHS staff. In practice, this would free-up more clinical time, leading to fewer patient cancellations, improved patient flow through departments and reduced waiting lists.

Critically, this collaboration will also help NHS Trusts looking to reduce their waste and take steps towards achieving the NHS Net Zero ambition, with both partners committed to helping the NHS reduce its carbon emissions. In the UK, the NHS accounts for 4% of the UK’s CO2 emissions, with 70% identified as ‘Scope 3’ (supply chain) emissions and is responsible for around 20 million tonnes of CO2 emissions annually. [1]

Philips UK and Ireland has already achieved 100% carbon neutral operations with 0% waste sent to landfill, whilst KFM has launched a Sustainability Programme and aims to reduce both inventory levels and waste. In addition, KFM is working in partnership with King’s College Hospital NHS Foundation Trust and PwC to develop and implement the first NHS Clinical Scope 3 decarbonisation approach.

We already have ample experience in delivering effective Managed Services to NHS Trusts across the country. But now, with the combination of KFM’s extensive knowledge of supply chain management in the NHS, we are in a unique position to develop this even further; enabling Trusts to improve both clinical and operational efficiency, maintain the highest standards of patient care and staff satisfaction, and help them to deliver on the NHS Net Zero and Green agenda.”

Stephen McMillan

Solutions Lead at Philips UK and Ireland

Under this agreement, NHS Trusts will also be able to navigate financial challenges by benefiting from KFM’s unique experience of managing complex NHS processes, including the reimbursement of High Cost Tariff Excluded Devices and its vendor-agnostic approach to Supply Chain Management. Philips further boosts this offering through innovative funding approaches to medical equipment that can enable the accelerated adoption of new technologies.

This partnership is an exciting next step for Philips and KFM, with potential to help hospitals continue to develop and deliver better healthcare outcomes for their patients and communities.

This partnership, as a first of its kind, allows NHS Trusts across the UK to access new opportunities and realise benefits at pace, whilst reinvesting in the NHS. Working together is not only one of our values, but also makes up one of the key pillars of KFM’s strategy and we are keen to work in partnership with organisations who share our vision of leading change and delivering excellence in healthcare. Working with Philips supports us to achieve that vision, whilst enabling our customers to focus on safe, effective, efficient and timely patient care.”

Andy Lockwood

Chief Executive of KFM

References

[1] https://www.england.nhs.uk/greenernhs/national-ambition/

About Royal Philips

Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people's health and well-being through meaningful innovation. Philips’ patient- and people-centric innovation leverages advanced technology and deep clinical and consumer insights to deliver personal health solutions for consumers and professional health solutions for healthcare providers and their patients in the hospital and the home. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, ultrasound, image-guided therapy, monitoring, and enterprise informatics, as well as in personal health. Philips generated 2022 sales of EUR 17.8 billion and employs approximately 77,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.

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About KFM:

KFM are a provider of healthcare support services, partnering with healthcare organisations enabling them to deliver world class patient care. KFM is owned by King’s College Hospital NHS Foundation Trust making KFM a public authority. With a turnover of around £180 million, all KFM’s profits and cost savings are reinvested in the NHS.

KFM’s end-to-end managed services cover all areas and specialties including procuring and supplying all clinical supplies, medical equipment plus maintenance, training and technical support and outpatient pharmacy dispensing services.

Recognised for their innovative and collaborative approach, KFM has won multiple awards highlighting its dedication to delivering first class healthcare support services. In March 2023, KFM received the 'Procurement Project of the Year' award for the second time and was highly commended for 'Most Effective Contribution to Patient Safety' at the HSJ Partnership Awards. Additionally, KFM was awarded the 'Best Consultancy Partnership with the NHS' award at the HSJ Partnership Awards 2021 as well as winning the 'Best Use of Technology in Acute Care' at the Building Better Healthcare Awards 2021.

With over 340 staff, KFM are committed to supporting their workforce and local community, which was highlighted in 2023 when KFM received a Gold Award from the Ministry of Defence Employer Recognition Scheme for its positive role in supporting the Armed Forces community.

More details about KFM can be found here: KFM (kings-fm.co.uk)

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