Four out of every five medtech companies have seen their costs of serving the NHS increase over the past year, a survey by the Association of British Healthcare Industries reveals.
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The business survey, compiled by the UK’s medtech trade association, found that the single greatest challenge for companies was selling to the NHS, with 85% experiencing increases due to costly measures such as the eProcurement strategy, credentialing, and added regulatory fees.
The industry, which has grown at a rate of 9% in recent years, is now worth over £17bn to the UK economy. However, uncertainty around Brexit has meant over one third of companies have delayed investment decisions.
70% of companies expect their exports to Europe to increase in 2018. This is higher than any other market and highlights the need to manage Brexit correctly, to ensure the trading opportunity that Europe represents is not lost.
Commenting on the findings, ABHI CEO Peter Ellingworth said: “The messages from our members are clear. We must get Brexit right to ensure patients have prompt access to products. The current procurement environment is hostile to companies when it focusses purely on the lowest cost. Failure to purchase on the basis of quality and value to the system is not beneficial to the patient, nor does it provide efficiency. Quality is critical to providing safe and effective care, whilst delivering long-term savings to the NHS.”
To minimise any disruption to the supply of products to patients, the industry is calling on law makers to adopt the European-wide regulatory model. To maintain and protect the health of both EU and UK citizens, it is also important to ensure that the cross-border movement of goods remains as seamless as possible.
