Totally plc (TLY) , a leading healthcare service provider in the UK and Ireland, has recently announced a new contract with NHS England to provide NHS 111 contingency services. The £10m contract has been awarded to part of the company’s Urgent Care division, Vocare Limited, and will begin on 1st March 2023, running for one year, with the option to extend for a further year.
The company is one of England’s largest and long-standing providers of NHS 111 services, receiving over 1.4 million calls per year. The company operates an efficient and resilient networked call centre model, with calls answered by the first available health adviser anywhere across its network. This new contract will provide additional flexible capacity and alleviate pressure on NHS 111 services over the remaining busy winter period, and into 2023.
Wendy Lawrence, CEO of Totally, said: "Totally has significant experience providing quality, resilient and responsive regional NHS 111 services. Our services have provided essential access to core healthcare services as demand has risen beyond the level anticipated by commissioners. This new contract re-affirms Totally as a core partner in the delivery of NHS 111 services and moves to recognise the new normal in which healthcare providers are operating, providing essential additional capacity into the system."
View from Vox
NHS 111 services are a crucial part of the healthcare system, where callers can discuss complex medical problems, worries about a long-term condition and end-of-life care.
When considering the current healthcare landscape, the partnership with Totally plc comes at an apt time. In late December, the South Central Ambulance Service NHS Foundation Trust reported that 111 calls had risen by 75% compared to the previous year.
The increase in 111 calls is likely a result of the first time there have been no Covid restrictions during the winter period since 2019. Subsequently, infection rates for influenza, metapneumovirus, RSV have been on the rise, as our immune systems re-learn how to fight these winter illnesses.
On top of this, the cold snaps can comprise immune systems in the winter, leading to greater infection rates and increased severity of symptoms. Totally plc is well positioned to help alleviate pressure on NHS 111 services, as it seeks to accommodate a greater number of calls, helping to achieve better healthcare outcomes for callers and patients. That’s translating into rapid sales growth and even faster earnings growth, which isn’t reflected in a lowly forecast PE ratio of just 11.1x.