Commercial Research Strategy for A leading Tertiary Referral Trust
Commercial Research Strategy for a Leading Tertiary Referral Trust
‘Best Research for Best Health’ resulted in a complete change of research funding for the NHS. This specialist tertiary referral hospital received ~£30million research grant from DH each year. This funding was to be phased out completely over 3 years and research funded on a project by project basis. This affects most of the leading NHS research establishments and has left a very large hole in their income and research funding for the future.
A detailed analysis was carried out internally on the capabilities and resources available for research at the Trust. Customer research was carried out with the research funding organisations – NIHR and commercial companies to determine their requirements.
A business strategy was developed with detailed 5-year forecasts and a tactical action plans for research. Recommendations were made to change structure and processes to attract more research funding.
New and increased commercial research funding was attracted and a process was put in place for this to continue and increase in the future. This was critical to attain Foundation status. Please see the case study on page 8