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Highlights:
- NHS Funding Boost: Feedback’s Bleepa platform becomes eligible for reimbursement under the NHS Elective Recovery Fund.
- Strategic Partnership: Partnership with Moorhouse Consulting to accelerate Bleepa’s implementation across NHS organisations.
- Revenue Potential: Bleepa could generate over £2 million annually per ICB contract through the ERF mechanism.
Feedback PLC (LSE:FDBK) saw its shares soar over 55% on Wednesday after announcing that its flagship Bleepa platform is now eligible for reimbursement under the NHS's Elective Recovery Fund (ERF). The platform’s Diagnostic Enhanced Advice and Guidance (DEAG) diversions can now be covered by this funding, significantly expanding its commercial potential across England’s healthcare landscape.
Major Boost from NHS Elective Recovery Fund
This eligibility under the ERF allows any Integrated Care Board (ICB) or hospital in England to use the fund to cover costs associated with Bleepa’s services. The ERF aims to reduce the long waitlists in the NHS by providing revenue-based payments to NHS organisations, which will now include funding for Bleepa, significantly enhancing its marketability. Importantly, the funding has no cap on the number of patients or pathways that can benefit, offering enormous growth potential for Feedback PLC.
Strategic Partnership with Moorhouse Consulting
To drive rapid implementation of the Bleepa platform and accelerate revenue growth, Feedback PLC has partnered with Moorhouse Consulting. CEO Tom Oakley emphasized that Moorhouse’s expertise will be key to scaling the platform quickly. The partnership is expected to facilitate a smooth roll-out of the Bleepa solution across various NHS organisations.
Potential Revenue Impact
Feedback estimates that the ERF mechanism could generate over £2 million per year per ICB contract, based on anticipated patient volumes. This projection, coupled with the broad scope of the ERF, positions Feedback PLC for significant financial growth. By Wednesday morning, shares in Feedback PLC were trading at 57.25p, reflecting strong investor confidence.
