How do we calculate the amount of our money we spend directly on patients in 2014-15?
Myton is committed to being as honest and open as it can be about the ways we raise and spend our money and would NEVER knowingly mislead a donor or patient.We believe our organisation is run extremely effectively and efficiently and welcome an opportunity to discuss that with our supporters.
Myton spends 86p in every £1 we raise on our services.But what does that really mean?
The 86p includes:
1.All the costs of those teams working directly with patients, such as nurses, doctors, physiotherapists, counsellors and the costs of recruiting, training and equipping our amazing volunteers.
2.The costs of all the things we need to buy to deliver our services such as drugs, dressings, tea bags and tissues (we use lots of tissues!).Plus the costs of our patient and families food, costs for transporting them, etc.
These form most of the 86p.But we do then include….
3.A proportion of the costs of the Senior Clinical Team, so our Directors of Medicine and Nursing.We remove the cost of time spent on ‘organisational responsibilities’ such as governance, strategy, monitoring and reporting.The rest of their time is spent working directly with patients and families or supporting the staff that do.We also include a smaller proportion of the rest of our management team, such as our CEO – for the time she spends working directly with our patients and families.
4.A proportion of the business support costs such as Estates, HR & IT.We work this out by taking the number of staff that work directly with patients (about 180) and include the costs of ensuring they have everything they need to deliver their patient services.
= This gives us the amount we spent on patient facing services.
What does the 14p include?
Everything from the cost of our insurance premiums and audit to legal costs and paying our regulators.
We may employ some staff, such as our Information Officer, who is considered an ‘overhead’ but whose work is vital to ensure Myton is highly cost effective.
For further information on this formula please see our annual accounts or contact our finance team via the website enquiry line (or phone us of course!).