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Dear Providers
CORRECTION: New guidance on assessing the financial viability of providers
In our January bulletin, we updated you on how we will assess the financial viability of providers. The text from the bulletin was as follows:
We are introducing a more consistent and proportionate way of assessing the financial viability of providers. From 12 February 2018 we will ask all providers to submit a statement of financial viability in the form of a statement letter from a financial specialist. This could be an accountancy, bank or financial services firm. This has been introduced to provide high level consistency and transparency in the way we assure ourselves that providers are meeting Regulation 13 of the CQC (Registration) Regulations 2009. This also supports our proportionate risk based approach to registration.
We would like to add the following clarification:
Evidence of an NHS contract provides sufficient assurance and we will not require the following providers to submit a statement letter:
· NHS GP practices
· NHS dentists
· NHS 111, out of hours and urgent care services
· Non NHS organisations with NHS contracts.
NHS Trusts and English local authorities are exempt from the requirement (as set out in Regulation 13 of CQC Registration Regulations 2009).
We apologise for any confusion caused.
Kind regards,
CQC
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