DigitalHealth.London Accelerator is “Excellent Value for Money”
DigitalHealth.London is today publishing an independent evaluation of their flagship Accelerator programme. The DigitalHealth.London Accelerator aims to speed up the adoption of technology in London’s NHS, relieving high pressure on services and empowering patients to manage their health.
Now in its fifth consecutive year, the Accelerator works with up to 20 high potential digital health small and medium sized enterprises (SMEs) over a 12-month period. The programme of support includes bespoke support and advice, expert-led workshops and events and the brokering of meaningful connections between innovators and NHS organisations with specific challenges. The evaluation was carried out by Kada Research Ltd.
Jenny Thomas, Programme Director, DigitalHealth.London said: “The digital health sector has matured rapidly during COVID-19 meaning the role of the DigitalHealth.London Accelerator has never been more relevant. We select some of the best digital health products and services to support the needs and challenges of the NHS and care system in London.
“Having an independent evaluation of our programme helps us to identify areas we can improve on so that we can make sure we are doing all we can to support the NHS and social care in London. We want to help the sector to be the best it can be through facilitating innovation and we want to play an active role in building London as a global capital of digital health. The key findings of this assessment validate the value of our programme to the SMEs we support and the wider sector.”
Ninety-six percent of SMEs supported by the Accelerator to take part in this evaluation reported the professionalism of the programme to be excellent or good. Ninety-one percent of whom have or will apply lessons learnt on the Accelerator.
Employment, due to the programme, is estimated to have increased by 513 new jobs, at a cost per job of £4,926 when assessing value for money. In addition, with 97 businesses supported over the three-year period, the cost per business for the 12 months of support was £26,036. Both these figures compare well with other similar activities, showing the Accelerator has provided “excellent value for money”.
The evaluation found that for every £1 spent by the NHS (through London’s AHSNs) on the DigitalHealth.London Accelerator, £14.50 is saved by the NHS, stating “this is a much higher return than the upper limit of expectations for this type of investment.”
The most recent call out for applications to the Accelerator earlier this year experienced an increase in applications, including an increase of digital innovators identifying as BAME and female. The percent of innovators applying to the Accelerator self-identifying as living with a disability remains the same.
Read the full Report here.