NHS Shared Business Services (NHS SBS), a leading provider of business support services to the NHS, has secured three-year contracts with University College London Hospitals NHS Foundation Trust (UCLH) and the Royal National Orthopaedic Hospital NHS Trust. As part of the contract, the current payroll and pensions services have been migrated to the NHS SBS Southampton Centre of Excellence and went live on 3rd October.
Director of Finance at UCLH Tim Jaggard said: "We're delighted to enter into this strategic partnership with NHS SBS. Partnership with an experienced service provider will help us to deliver further payroll improvements and innovation. Savings made from outsourcing our payroll and pension services will be reinvested into patient services and contribute towards our objective to deliver financial sustainability."
David Morris NHS SBS Managing Director said: "There is a great benefit in taking this step to support the NHS by consolidating back office functions as per the Lord Carter review. We're looking forward to sharing our expertise and capability, and delivering efficiency benefits and innovation. As well as standardising and transforming the processes, we will also be seeking to identify areas for continuous improvement and ensuring that we deliver maximum value over the term of the contract."
About NHS Shared Business Services
NHS Shared Business Services (NHS SBS) is the market leader in business support services for the NHS. They provide Finance & Accounting, Employment Services and Procurement services, delivering operational efficiencies and improved service quality as well as real cost savings, of on average 30%, for its NHS clients.
Established in 2005, NHS SBS is a 50/50 joint venture between the Department of Health and Sopra Steria Limited. The organisation now provides financial services to 100% of all NHS Commissioning organisations and a range of business support services for around 50% of NHS Provider Trusts.
NHS SBS currently employs over 1,750 people who bring a unique mix of NHS and commercial expertise. NHS SBS is on-course to achieve £1 billion of cost savings to the NHS by 2020, having achieved its original 10-year target of £224 million of cost savings, a year earlier than planned in 2014.