Finding that needle in a haystack: funding your Staff Bank platform

By James Foxlee - 2nd Sept 2019

Asking for money to buy a product you know is going to work, save you money, improve staff engagement and improve patient care is a no brainer. But we know squeezing funds from NHS coffers doesn’t always work out like this.

We at Circular Wave know the NHS like the back of our hand. We help NHS trusts deal with their staffing challenges and dramatically cut agency spend through our unique software platform. Our technology makes it easy for trusts to create and manage their own thriving staff banks, for themselves, so reducing dependency on agency staff. This in turn has a positive effect on patient safety, continuity of care and improved compliance.

But we’re realistic that our software, albeit revolutionary with impressive results, has to win over budget holders without giving them a headache about costs.

Most platforms like this require the establishment of a new budget, and to any Service Director, or Finance Director, this can be a barrier you don’t want, especially if your budgets have already been set and approved. However, there are ‘quick wins’ from installing our software which means us helping you pay for Circular Wave out of your existing budget is like finding that needle in a haystack.

Finding those shiny needles

If you already have a Staff Bank then the likelihood is that employees are communicated via SMS. There’s a number of problems with using SMS as a communications tool. Firstly, unless you set up a complex database, there’s no way to filter the right SMS messages to the right people. This means your Consultant Neurosurgeons will get text messages informing them about FY1 shifts in A&E. Hugely annoying, damaging to staff morale and a drain on resources.

As we know, in a large trust, the huge volume of such messages often results in the doctors simply blocking the SMS number. SMS messages are also expensive. A large acute Trust can spend up to £20,000 per month on Bank SMS messages alone.

But Circular Wave uses internet PUSH technology to communicate with Staff Bank members. This technology allows us to send targeted messages to the relevant staff. So your Consultant Neurosurgeons will only be sent shifts that are relevant to Consultant Neurosurgeons. This means they don’t block or ignore the message. However, the biggest difference as far as finance is concerned, is that PUSH messages don’t cost.

A clever way to revolutionise your staff bank

There is therefore, a smart and strategic way to reap the benefits of Circular Wave’s software through an existing pot of money. In fact, most average acute Trusts will be able to fund the cost of their Bank platform by placing the platform costs into the SMS Communications budget.

Check how much your Trust spends on SMS messaging today, and then drop us a line or give us a call to find out how Circular Wave can turnaround your staff bank without giving budget holders a headache.

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