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In October 2014, the Competition and Markets Authority (the “CMA”) published the Private Healthcare Market Investigation Order 2014 (the “Order”) following its investigation into the private healthcare industry.
The Order imposed requirements on private hospital operators to disclose certain information in relation to referring clinicians (as defined by the Order) for the benefit of patients. Full details about the investigation and the Order can be found on the CMA web page https://www.gov.uk/cma-cases/private-healthcare-market-investigation. The information provided by Aspen Healthcare below is required by the Order.
At Aspen Healthcare, we work with our doctors to ensure they can focus on high quality patient care. In keeping with one of Aspen Healthcare’s core values ‘Investing in Excellence’ we supply in depth training and development for all of our staff.
Midland Eye provides the following services to Consultants and/or Referring Clinicians:
Basic Workplace Amenities
General Marketing & Promotional Services to be able to operate a Commercial Business, Including but not limited to
General Corporate Hospitality, Proportionate and Reasonable to the Nature of the Business Including:
|Corporate Hospitality Event||Number of attendees||Cost (£) per head|
Consultants are charged higher-value services such as consulting room usage and secretarial services based on a 30% deduction of package fees agreed between the patient and or insurer.
Private hospital operators are required to disclose details of certain paid services provided by referring clinicians to private hospital operators in addition to exercising Practising Privileges at that hospital. Midland Eye pays for no clinician advisory services.
Clinician Financial Interests in Aspen Healthcare
Private Hospital operators are required to disclose details of referring clinicians practising at their facilities who have a share or financial interest in those facilities or any equipment used. Some clinicians may own shares in their practising facility. A total of 25% of Eye Doc’s Limited (Midland Eye) interests is owned by the following Consultants:
At the time of purchase, the value of each 1% equity interest was valued as a fair market multiple of the preceding year’s free cash flow.
The information disclosed on this page in accordance with the Private Healthcare Market Investigation Order 2014 is true and accurate to the best of Aspen Healthcare’s knowledge and belief.