News

Kettering General Hospital NHS Trust outlines benefits of CQC Essential Standards from Dynamic Change

Thu, Aug 19th 2010

“It is great to work with a company who is willing to listen to its customers and develop systems to meet their needs.  Performance Accelerator is not a static system, it is updated and developed to ensure it provides the latest ideas and information available” explains Linda Cottenham from Kettering General Hospital NHS Trust.

Linda continues,  “Throughout the Registration process Dynamic change were able to update me far quicker and with more information than central.  In addition all amendments from the CQC were provided directly into our systems.”
Since the CQC consultation period Dynamic Change have continually updated the CQC Essential Standards solution on Performance Accelerator.
Working together with customers we have responded to the changing needs of Trusts as they moved beyond registration towards managing ongoing compliance. This has resulted in Performance Accelerator being the only online, fully future proof and easy to use CQC solution that is fit for distributed compliance and corporate monitoring.
To find out more email liz.jones@dynamicchange.com
 
 

South Tyneside NHS Foundation Trust select Dynamic Change following a competitive tender process

Thu, Aug 5th 2010

 

South Tyneside NHS Foundation Trust has selected Dynamic Change software to manage its Corporate Compliance and Governance needs following a competitive tender process.
 
Dynamic Change software will help South Tyneside NHS FT achieve NHSLA Level 3, manage compliance with CQC Registration Standards, as well as streamline board reporting and assurance.
 
The Trust sees its investment in Dynamic Change as part of a drive to underpin assurance and unlock efficiencies around compliance reporting to regulators such as The Care Quality Commission, Monitor and NHSLA.
 
Rob McGovern, Commercial Manager, Dynamic Change, “It is great to receive another endorsement from a high performing Foundation Trust, the whole team is looking forward to working with colleagues at South Tyneside NHS Foundation Trust.”
 
Liz Jones, Marketing Manager, Dynamic Change added, “This is the second competitive tender Dynamic Change has successfully won in the last four weeks. It is a real indication that Trusts want to partner secure software companies, with proven solutions.”

Dudley Group of Hospitals Foundation Trust underpins its commitment to quality and governance by selecting Dynamic Change

Sun, Jun 6th 2010

Based in the heart of the Black Country, The Dudley Group of Hospitals NHS Trust provides a wide range of medical, surgical and rehabilitation services to the people of Dudley and surrounding areas.

With one inpatient hospital, Russells Hall Hospital, and two Hospital Outpatient Centres at the Guest and Corbett  the Trust provides care and treatment for approximately 400,000 people.
The Trust will be using Dynamic Change to manage all aspects of its QIPP programme, as well as compliance with NHSLA Maternity Standards, Care Quality Commission Compliance, including Hygiene Code and the Essential Standards of Quality & Safety. It will also provide the board and senior team with a complete electronic Board Assurance Framework for the management and control of all corporate risks around quality, safety and efficiency.
“We have selected Dynamic Change because of its track record. We believe the system is an essential tool to deliver robust ongoing assurance”, said Denise McMahon, Director of Nursing

For more information about Dynamic Change please contact liz.jones@dynamicchange.com

Allocate Software Acquires Dynamic Change Strengthening its Application Portfolio for the Healthcare Sector

Thu, May 6th 2010

Allocate Software is pleased to announce that it has agreed terms to acquire Dynamic Change Limited (“Dynamic Change”), a UK-based software-as-a-service (“SaaS”) provider of regulatory compliance, corporate governance, risk and performance management for the UK healthcare market, for up to £9.0 million over three years (the “Acquisition”), which includes £1.6 million of cash and receivables acquired with the business on completion.

Overview of Dynamic Change and the Acquisition

  • SaaS provider with over 98% of revenues from healthcare
  • Customer numbers have grown from 54 as at 31 March 2008 to 125 as at 31 March 2010
  • Approximately 70% of Dynamic Change’s total revenues of £3.2 million for the financial year ended 31 March 2010 are contractually recurring from subscriptions. These have grown by approximately 40% over the last financial year
  • Upfront consideration of £4.9 million in cash and £100,000 in shares in the Company
  • Dynamic Change is being acquired with cash balances and receivables of approximately £1.6 million, largely reflecting deferred income which arises from subscriptions paid annually in advance
  • Further contingent consideration of up to a maximum of £4.0 million payable in cash and in full if Dynamic Change achieves at least 25% compound annual growth in run-rate subscription revenues in the three year period to March 2013
  • Directors expect the acquisition to be significantly earnings enhancing in the first full financial year of ownership by Allocate

Commenting on the Acquisition, Ian Bowles, CEO of Allocate, said: “With this Acquisition we continue to broaden Allocate’s application portfolio for the healthcare sector which will now include regulatory compliance corporate governance, risk and performance management.  We will also gain domain expertise in Software-as-a-Service.  We believe this is an attractive opportunity to achieve additional visibility in our top-line growth and increase our recurring revenue base.” 

Mil Milojevic and Hugh Ashley, Founders and Managing Directors of Dynamic Change, said: “The strategic fit between Allocate and Dynamic Change is excellent for both customers and staff.  Regulatory compliance and business intelligence are rapidly emerging as some of the most exciting areas of the software market for healthcare and the enlarged group is well positioned to exploit this opportunity.  We look forward to contributing to Allocate’s continued strong growth.”

“We are very proud of the strong relationships the team at Dynamic Change has built with customers and look forward to continuing to provide the same dedicated customer service and support that makes our service stand out.”

About Dynamic Change

Based in Keele, Staffordshire, Dynamic Change,  founded in 2001 is a leading provider of regulatory compliance, corporate governance, risk and performance management for the UK healthcare market.  Dynamic Change has developed the “Performance Accelerator” SaaS software platform that is used by its customers to monitor and manage regulatory compliance, corporate governance, business objectives, risks and controls, performance indicators and financial targets.  The platform incorporates all applicable regulatory standards and obligations for Dynamic Change’s healthcare customers and such content is maintained by Dynamic Change on an ongoing basis. 

“Performance Accelerator” is a multi-tenant, single platform accessed via a web browser and has been developed by Dynamic Change with standard Microsoft development tools, using Microsoft SQL Server.

Dynamic Change has 121 healthcare customers, which is highly complementary to Allocate’s own current installed base of over 230 healthcare customers.  In the year to 31 March 2010 Dynamic Change generated total revenues of approximately £3.2 million, and achieved EBITDA of approximately £0.5 million.

Acquisition Rationale

The Board believes that an acquisition-led strategy is the most beneficial for the Company when entering the regulatory compliance, corporate governance, risk and performance management market for healthcare.  Accordingly, the Board concluded that the acquisition of a local provider of governance, risk and corporate performance management software with an established and growing installed base in the UK healthcare market would be an appropriate market entry strategy.

The Acquisition is expected by the Directors to be significantly earnings enhancing in the first full financial year of ownership by Allocate.  Furthermore, the Board believes that the SaaS nature of Dynamic Change’s business model, with high levels of recurring revenue, will provide the enlarged Allocate group with improved visibility on future revenues.

There are expected to be opportunities to generate incremental revenues from the penetration of Allocate’s customer base with Dynamic Change’s Performance Accelerator product.  The Board believes that there is significant potential for growth within the UK healthcare market, through new customer wins as well as continuing to grow the number of users at existing customers.  In addition, the Board believes there is the potential for Allocate to use its global reach to take the product, in due course, to certain international markets.

Consideration

The acquisition agreement provides for the purchase of the entire issued and to be issued share capital of Dynamic Change for up to £9.0 million over three years, with an initial consideration of £4.9 million in cash and £100,000 in shares of the Company.  On this basis, cash balances and receivables of approximately £1.6 million will be acquired with the business, largely reflecting deferred income.

Deferred, contingent consideration of up to £4.0 million in cash is payable based on the financial performance of Dynamic Change for the 12 month periods ending 31 March 2011, 31 March 2012 and 31 March 2013 (the “Contingent Consideration”).  No Contingent Consideration will be payable unless Dynamic Change achieves at least 15% compound annual growth in run-rate subscription revenues over run-rate subscription revenues as at 31 March 2010.  Full payment of the Contingent Consideration will only be made if Dynamic Change achieves at least 25% compound annual growth in run-rate subscription revenues in the three year period to 31 March 2013.

£1.25 million of the Contingent Consideration is attributable to the financial performance of Dynamic Change in respect of the 12 month period to 31 March 2011 and £1.75 million is attributable to the financial performance of Dynamic Change in respect of the 12 month period to 31 March 2012.  If the full payment of £1.25 million of the Contingent Consideration attributable to the performance in respect of the 12 month period to 31 March 2011 is not made it remains available to be paid in respect of the financial performance for the subsequent 12 month period to 31 March 2012 (but not thereafter). £1.0 million of the Contingent Consideration is attributable to the financial performance of Dynamic Change in respect of the 12 month period to 31 March 2013.


Enquiries:

Allocate Software plc

Ian Bowles – Chief Executive Officer
Chris Gale – Chief Financial Officer
Claire Parsons – Marketing Manager

Tel: +44 (0) 20 7355 5555 

Hansard Communications

Justine James
Kirsty Corcoran 

Tel: +44 (0) 20 7245 1100 

About Allocate Software plc

Allocate Software plc is the leading workforce optimisation software applications provider for world-wide organisations with large, multi-skilled workforces.  With a blue chip client base spanning the public and private sector, its key vertical markets include: Defence, Maritime, Healthcare and Government & Education.

At the core of the business is Allocate’s workforce optimisation software application, which organisations use to deploy the right people with the right skills, to the right place at the right time.

Headquartered in London, Allocate provides services and support to its increasing international customer base through regional offices in the UK, Sweden, USA, Australia and Malaysia.

Allocate is quoted on the London Stock Exchange (AIM: ALL).   For further information please visit www.allocatesoftware.com.

MyAgenda Release heralds a new dawn for governance and quality

Wed, Mar 31st 2010

Today marks the go-live of the 3rd and final stage of the MyAgenda Release on Performance Accelerator. It follows a rolling programme of new and exciting functionality over the past three months.

The NHS never stands still and neither has Performance Accelerator. Since 2004, while others have come and gone, Performance Accelerator has continually evolved to meet the health services changing needs. 

So, now as the public sector begins 2010-11 facing what some are calling ‘the greatest challenge yet’  Performance Accelerator has evolved once again.

The feedback on the earlier stages of the MyAgenda Release, including the new look and feel of the user interface, has been fantastic.

Other changes include:

  • Improvements to how evidence and assurance is linked, making this the easiest and quickest way to manage evidence in a single assurance register.
  • The revolutionary new SMART Assurance technology. Letting you move away from quantity of evidence to quality assurance by automatically identifying the strength of assurance.
  • A brand new 'drag & drop' reporting tool for Performance Indicators.
  • Tools that make scoring risk much more intuitive for users across the organisation.

Of course because it is an evolution we won’t stop here, as well as the usual 13000+ updates we make through-out the year responding to regulatory change, we have more new and exciting tools and functionality planned to follow this release.

To find out more about the MyAgenda Release email myagenda@dynamicchange.com

Coventry Community Health Services selects Performance Accelerator following competitive appraisal with other lean compliance solutions

Mon, Feb 8th 2010

Coventry Community Health Services (CCHS) join just over 20% of all other Community Health Providers in England in selecting Performance Accelerator. The whole team at Dynamic Change is thrilled to welcome CCHS to the Performance Accelerator community.

CCHS is part of NHS Coventry and provides a wide range of NHS services to the community across the city. Services include community nursing such as health visiting, district nursing and community matrons; unscheduled care including services such as GU medicine, contraceptive and sexual health services; clinical assessment services, including general medical treatment services, physiotherapy, dental services and many more.

Sarah Barnes, Standards Lead at CCHS explains, “Performance Accelerator offered the best solution for our needs by combining the governance & compliance agenda with performance in a cost effective package. In light of the CQC guidance it was important that Dynamic Change have a track record of keeping compliance frameworks up to date and relevant and that they do this without charging existing customers any additional fees.”


Rob McGovern, Account Director added, "It is great to see the number of Community Health providers using Performance Accelerator increasing, and particularly good to welcome another organisation in Coventry. Performance Accelerator proves itself time and time again to be the only software company able to respond quickly and accurately to the changing agenda, this makes us a safe choice for all community providers as they evolve over the coming months.”
 

A Further Two Mental Health Trusts Select Performance Accelerator to Manage Quality, Risk & Compliance in 2010

Mon, Jan 25th 2010

 

Dynamic Change is delighted to welcome The Tavistock and Portman NHS Foundation Trust and Coventry and Warwickshire Partnership Trust to the Performance Accelerator Community.

Coventry and Warwickshire Partnership Trust provide services from over 100 sites with a budget of around £140 million. They have selected the complete Performance Accelerator solution and will use the software to manage areas such as Auditors' Local Evaluation, Targets, Hygiene Code as well as CQC Essential Standards.

The Tavistock and Portman NHS Foundation Trust was one of the Trusts 'Named and Famed' by David Nicholson and The Care Quality Commission for providing consistent high quality care. The Trust will be using Performance Accelerator to manage the Corporate risk register, Divisional risk registers, NHSLA and CQC Essential Standards.

David Price, Implementation Manager explains, "We are committed to supporting the unique needs of Mental Health, Social Care and Learning Disability Trusts by ensuring Performance Accelerator kept 100% relevant to their specific needs, and by providing opportunity for these organisations to network and share best practice. We are very proud to welcome Coventry & Warwickshire Partnership Trust and The Tavistock & Portman NHS Foundation Trust as customers"

CQC Registration: Performance Accelerator Customers Say Thank You!

CQC Registration: Performance Accelerator Customers Say Thank You!

Tue, Jan 12th 2010

Everyone at Dynamic Change was very proud when Becky, a Customer Support Analyst, received a bunch of flowers from a Foundation Trust to thank her for helping them use Performance Accelerator to get their CQC Registration prepared so easily.

It really matters to us that we make a positive difference to our customers. To achieve this we make sure we have the easiest to use and most comprehensive software that is updated with regulatory change ahead of everyone else.

 

However, we don’t leave it there we also ensure each of our customers has access to a named individual with in depth knowledge of regulatory developments and how best to reflect change in your organisation.

 

So, at a time when many Trusts and software providers are still ploughing through the CQC Registration Standards (Essential Standards) it’s great to hear about how relaxed and ready for life beyond registration our customers are.

20 NHS Trusts select a solution they can depend upon for CQC Registration

Thu, Dec 10th 2009

Dynamic Change is thrilled to welcome 20 new customers over the last four weeks as Trusts select a stable, long-term partner to see them through registration and beyond.

 
The organisations, that include foundation trusts, community providers and mental health & social care trusts, have all selected the Care Quality Commission Registration Requirements (Essential Standards) solution on Performance Accelerator.
 
“Twenty trusts in one month is a truly massive endorsement for our approach. Organisations are looking for a simple solution to help them through the registration process, but they also need a thorough, future proof solution  that will serve them beyond registration.” explains Mil Milojevic, Director Dynamic Change
 
Performance Accelerator combines innovative compliance & governance software with a unique service to keep all regulatory regimes 100% update as changes are announced.
 
Dynamic Change goes beyond the usual template updates provided by other software. The service we provide means our customers are always one step ahead of regulatory change, as an example 150 Performance Accelerator customers enjoyed a presentation from the Head of Provider Methods at the Care Quality Commission yesterday, the same day that the final guidance was announced.
 
For more information about the CQC Registration Requirements (Essential Standards) on Performance Accelerator email liz.jones@dynamicchange.com

Governance of Primary Care Trust Provider Services – Dynamic Change launches another important paper on NHS Governance

Mon, Nov 16th 2009

 

This has been a period of rapid and varied development for the governance of PCT provider services, building on guidance jointly issued by the Department of Health and the Appointments Commission in July.
Nevertheless, more questions remain unanswered than resolved. In response Dynamic Change and The Good Governance Institute combined forces to publish a paper that outlined current issues and provided guidance, and in writing this paper it became clear that governance arrangements were often being developed in a hurry and without thinking through the ramifications for the future. Worse still, in many PCTs governance arrangements were being arrived at without a clear vision of what was to be governed. 
The purpose of the paper is to encourage PCTs to pause before committing themselves further, and to be thoughtful about what it is they are doing. PCT leaders should think through what the aims of their provider de-merger is, the holistic nature of modern thinking on governance and only then start to put in place governance arrangements that are appropriate.
Liz Jones, Marketing Manager, Dynamic Change remarks, ‘Performance Accelerator is used by over 30 community provider arms, all in different states of separation with different governance arrangements. By selecting Dynamic Change these trusts have selected a partner committed to understanding their environment and staying one step ahead of change. This paper is an example of this commitment and I am sure it will offer our provider services customers and others a welcome opportunity to reflect.’
Authors: Andrew Corbett-Nolan & Dr. John Bullivant
To order your free electronic copy of the first draft of this discussion paper email liz.jones@dynamicchange.com