Wealth creation

The aim of the WMAHSN is to create wealth by delivering improvements in healthcare across each of the priority programmes through industry collaboration and attracting inward investment. The healthcare sector contributes to economic growth in a number of ways:

  • By making people better and keeping people well: a healthy population is more productive and more active in the economy and less dependent on government support
  • Through working in partnership with academia and industry to grow research in healthcare: supporting and growing the life sciences sector in the UK by creating an environment for tomorrow’s innovations to be discovered
  • Through accelerating the adoption and diffusion of innovation and best practice: this means healthcare becomes more effective, providing greater health benefits for the population and delivering better value for money. It also creates a demand for innovation
  • Through promoting services, innovations and expertise overseas: working in partnership with industry and creating opportunities for healthcare and UK based companies to generate income overseas. The NHS’s unique position as a national provider means the NHS can lead the world as an ‘intelligent customer’.

WMAHSN has an important role in supporting healthcare to increase its contribution to the West Midlands’ economy. WMAHSN is driven by two interrelated imperatives: improving population health and generating economic growth in our region. As a membership organisation bringing together NHS commissioners and providers, academia and industry, we are uniquely placed to support healthcare in increasing its contribution to the economy.

We do this both directly and indirectly:

  • Directly: WMAHSN is a “market maker”, opening doors and creating a more conducive environment for relevant industries to work more effectively with the NHS and other parts of the healthcare sector, thus making the West Midlands an internationally competitive place to do business and discover tomorrow’s innovations, as well as making local healthcare a sought after product internationally.
  • Indirectly: WMAHSN impacts on the productivity of healthcare providers and the outcomes of patients, and therefore the productivity of the workforce at large, through our remit of spreading best practice.

Through engagement with industry, the WMAHSN will establish a dual reputation of:

  • The UK’s premier location for providing high quality, cost-effective evidence for the adoption of innovation, from global health technology and pharmaceuticals industry
  • WMAHSN known for best practice in delivering high-quality healthcare and economic wealth for its patient population.​

Past and current programmes

Contacts

To discuss this theme, contact Tony Davis, Commercial Director at WMAHSN, on tony.davis@wmahsn.org or 0121 371 8061.