You need funding to scale, but investors don't understand the NHS market
NHS revenue contracts look nothing like consumer SaaS metrics. Without a commercial story that translates NHS pipeline into investor-familiar terms, you'll lose funding rounds to companies with inferior products and better decks.
- steps
- 8
- steps
- to start
- 2 to 4 days
- to start
The short answer
Investors do not need to understand the NHS. They need a revenue path they can believe, with honest timings and evidence at each stage. Replace 'the NHS spends billions' with a bottom-up model of named accounts, realistic cycle lengths and the cash needed to survive them, and show independent sector revenue alongside if it shortens time to revenue.
8 steps
Do it yourself: step by step
0 of 8 done
List target accounts by segment (trusts, ICBs, independent hospital groups, private clinics) with stage, likely contract value and expected close quarter
- Time
- 2 to 4 days
- Typical cost
- Free
- Who does it
- Founder with finance lead
Done when: Model reconciles to the pipeline in your CRM
This problem is Solvable.
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Investor revenue path table
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Investor revenue path
1. Pipeline by segment
| Segment | Named accounts | Stage now | Typical contract value | Observed or assumed cycle | Expected close | Probability |
|---|---|---|---|---|---|---|
| NHS trusts | [x]: [names] | [first meeting / pilot / procurement] | £[x] a year | [x] months ([observed / estimate]) | [Qx YYYY] | [x]% |
| ICBs | [x] | [stage] | £[x] | [x] months | [Qx] | [x]% |
| Independent hospital groups | [x] | [stage] | £[x] | [x] months | [Qx] | [x]% |
| Private clinics and consultant practices | [x] | [stage] | £[x] | [x] months | [Qx] | [x]% |
2. Access gates
| Gate | Needed? | Status | Date |
|---|---|---|---|
| UKCA / CE marking | [yes / no] | [done / in progress] | [date] |
| DTAC | [ ] | [ ] | [ ] |
| DSPT | [ ] | [ ] | [ ] |
| DCB0129 clinical safety case | [ ] | [ ] | [ ] |
| NICE ESF evidence tier [A / B / C] met | [ ] | [ ] | [ ] |
| Framework award | [ ] | [ ] | [ ] |
3. Cash to the next milestone
| Central case | Slow case | |
|---|---|---|
| Milestone | [e.g. 3 paying NHS sites + 2 independent groups] | same |
| Months to reach it | [x] | [x + 6] |
| Monthly burn | £[x] | £[x] |
| Cash needed | £[x] | £[x] |
| Raise | £[slow case + 6-month buffer] |
4. One-line story
"We sell [product] to [buyer], who pay from [budget line] because it [their metric]. We have [x] paying sites, a route through [framework / direct award], and this round takes us to [milestone] by [date]."
Avoid these
Common mistakes
- Top-down market sizing with no account-level path to revenue.
- Raising on central-case timings and running out of cash in the slow case.
- Counting unpaid pilots as revenue traction.
- Pitching generalist SaaS investors who expect 3-month enterprise sales cycles.
- Hiding regulatory or assurance gaps that diligence will find anyway.
Free personal check
Done by Paul Robinson, not software
I'll read your pitch deck as a healthcare investor would and show you where the revenue path wobbles
What I need from you
- Your current pitch deck
- Your monthly burn, roughly
- Months of runway left
What you get
- Where the revenue story won't hold up
- Whether your cycle lengths and runway match
- The three changes that matter most
Within 2 working days
No sign-in, no sales call. I read every request myself and reply on WhatsApp.
Free tools
Check where you stand
Benchmarks
30%
HealthTech companies that chose not to bid on an NHS tender in 2024 because of unworkable requirements; investors will ask how you avoid this
96%
Rise in UK MedTech and HealthTech investment from 2020 to 2022 (Beauhurst data, cited by KPMG)
Source: KPMG for the Office for Life Sciences, Unlocking the potential of UK HealthTech (January 2024)
12 to 24 months (NHS) and 3 to 9 months (independent groups)
First meeting to signed contract, for planning when you have no data of your own
Solvable estimate
Paul Robinson
14 years in UK private healthcare
I solve this one for healthcare companies
Want a hand? I'll look at your situation and tell you the three things I'd tackle first.
A few quick questions, about two minutes. I read every one myself and usually reply the same day.
No sales call unless you ask for one. Just a straight answer from me.
I reply personally, usually the same day.
Questions
Frequently asked questions
How long should I tell investors an NHS sale takes?
Your own data if you have it. If not, 12 to 24 months from first meeting to contract, labelled as an assumption. Investors trust honesty over speed.
Should I include independent sector revenue?
Yes, if it is real. Independent hospitals and private clinics often buy faster, and early revenue there reduces risk.
Do pilots count as traction?
Paid pilots with a written route to contract do. Unpaid pilots are evidence, not revenue.
What will diligence check first?
Contracts, regulatory status, data protection (DSPT, DPIAs), clinical safety documents and whether reference customers will take a call.
Is grant funding worth the time?
For evidence generation, often yes. It is non-dilutive and NHS buyers respect independent evaluation.
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