Adopting seven health innovations could save the NHS and social care sector nearly £25bn by 2030, according to a report from an independent think tank.
The report from the International Longevity Centre – UK (ILC-UK) warns that a failure to innovate in healthcare will lead to a spending deficit larger than that caused by the financial crisis.
Towards affordable healthcare: Why effective innovation is key explores how health care innovations could increase productivity and reduce costs by £18.5bn in the NHS and £6.3bn in social care.
Innovations already developed in the UK include an integrated dementia service run by a consortium of GPs across Staffordshire, and Manchester Royal Infirmary’s programme of providing the training and equipment to perform home dialysis.
‘Whilst the UK has a strong history of innovation in the field of healthcare, the UK is at a crossroads,’ said Sally-Marie Bamford, research and strategy director at the ILC-UK.
‘We have world-leading higher education and research institutions, and some of the most cutting-edge health tech start-ups are emerging from the UK. However, social care has for too long played second fiddle to the NHS, and a financially unsustainable model of adult social care has a knock-on effect in terms of NHS sustainability.
Ms Bamford added that many funding mechanisms in the NHS do not reward or encourage innovation, with payments often based on output rather than outcomes.