Tapping into the Investment and Impact Fund is key for Pharma
I talked in my last blog about how the Pharma, MedTech and Devices industry can help the NHS solve its problems by zooming in on its targets.
While all the focus has been on the contractual requirements of the Direct Enhanced Service (DES) – supporting Primary Care Networks (PCN) to deliver high-quality care to their populations – very little attention has so far been paid to the Investment and Impact Fund (IIF).
The IIF is an incentive scheme with a lot of money on offer – money the Pharma, MedTech and Devices industry can play an important part in helping PCNs deliver.
What do points make? The Investment and Impact Fund point (IIF) scheme explained
The IIF has a whole host of indicators attached to it. It could be the percentage of patients getting a flu jab or the number of patients aged between 25 and 84 years of age and with a CVD risk score (QRISK2 or 3) greater than 20%, or any of the other indicators. Each indicator is worth an agreed number of points, and the points each PCN earns for each indicator depends on how their performance relates to an upper performance threshold and a lower performance threshold. There’s a good explanation of how IIFs work: https://www.england.nhs.uk/primary-care/primary-care-networks/network-contract-des/iif/
If they hit the upper threshold, they get the full value of the point which converts into pounds. And then the total number of points is multiplied by those pounds. Each point is valued at £225.
The only adjustment made is if you’re a network that’s bigger than 50,000 people, or smaller than 50,000, in which case the money will go up or down slightly. But if we take an average network of around 50,000 and we start to multiply the points by a network can accrue, then you are quickly talking about a lot of money.
Park the product, hammer the problem
Again, if your value-added projects help PCNs deliver any of the investment and impact agenda and you can provide people to do it, there is a brilliant opportunity awaiting those who can make the right approach.
Remember – if you park the product, go and talk about the problem you solve and how you enable that to happen, then there is a market out there. But that approach has got to be completely spot on. If you set out hoping to talk to them about the product, then the chances of you getting through the door are slim.
If you go and talk to them about the problem that you solve, how you can help them contractually – either with the network DES or with the IIF – you will be opening up doors.
Even if you don’t play into either of those agendas, you still might be able to alleviate a significant workload pressure. Projects resulting in an improved patient outcome leading to fewer appointments, fewer referrals and fewer admissions are still very welcome. That’s especially true if you’re offering them extra support and input to make that happen.
GP Contract Imposition
The imposed changes to GPs contracts have upset general practice, there’s no denying that. But general practice will do what it does best and – while I hope the negotiators get back around the table and thrash out a proper settlement – one way or the other it is likely the new contract will be implemented across the coming year. So, there’s a really good opportunity with service restart.
There are some brilliant opportunities for those that can understand the agenda, engage with it, work with it and really think about all the value they can add. But those turning up saying: “This is my product, this is how it works and why don’t you want to use it?” are likely in for a rough time.
Scott McKenzie helps pharmaceutical, medical technology and device firms increase revenue by getting their products and services in front of the right NHS decision makers. If you want to get your products fully embedded into treatment pathways we can help you. We’ve doubled revenue for our clients and can share these processes with you too. If you want to improve the way you sell to the NHS you can watch our free webinar here.