Executive Chair Update
Published: 24 January 2023
At a recent meeting the board of directors considered MedCo’s financial performance during 2022. Whilst the accounts for the year ended 31st December have yet to be formally audited our management accounts indicated an annual surplus after payment of administration costs. This was in part due to a budget underspend.
The board also decided the charging policy effective from April 2023. At this stage I can confirm that the fees for existing MROs who choose to renew their membership will benefit from a substantial abatement resulting in lower registration renewal fees than the previous year.
MedCo will be introducing new charges for audit in limited circumstances. This has become necessary as a result of reviewing the actual time spent conducting audits/re-audits in certain cases.
Having reviewed the costs incurred in the day to day administration, support and training of medical experts there will be no reduction in the annual or case date upload charges for DMEs/IMEs.
Full details of the new charging policy will be published shortly.
The board has set a new annual budget by applying a proportion of previously accrued surplus funds to offset an estimated deficit for the current financial year.
Full audited accounts for the year ended 31st December 2022 will be published when completed and approved by the board.