‘Foundation trusts worth £5.5bn to region’s economy’

THE economic impact of foundation trust hospitals has been estimated to be worth £5.5bn to the North West, which is more than any other region in the country.

According to a new report by Barclays and the Foundation Trust Network the total UK-wide economic value delivered is £30bn a year.

‘The economic and social value of foundation trusts’ study sets out for the first time the economic and social value generated by foundation trusts.

As NHS providers, 28 foundation trusts in the North West provide essential care for thousands of patients every year.  However, the broader contribution of foundation trusts to local people and the local economy often goes unnoticed.  

Foundation trusts contribute economic and social value by supporting local businesses by sourcing goods and services and generating employment for thousands of people.  Value is also created through the delivery of research and providing construction work, which can boost local communities.

David Logon, Barclays healthcare relationship director for the Northern region said: “Foundation trusts are at the heart of their communities and this research, for the first time, values this contribution at £30bn annually to the UK economy.

“The research showcases the foundation trust as a vital component of local lives, from the number of people they employ, to local community initiatives.  

“Any changes to the healthcare system must therefore acknowledge not only the clinical impact, but also the wider implications such changes could have. What is very clear is that the foundation trust model is about more than delivering care, it is also about the broader responsibility it has to its local community.”