Cost of compliance rockets 1086% in the last 10 years
The cost of compliance has jumped by a huge 1086% over the past decade, according to the latest research from NASDAL.
The National Association of Dental Accountants and Lawyers (NASDAL) has pointed to the introduction of the CQC in dentistry, HTM 01-05 and the ‘culture of compliance’ as the main reasons behind the rise.
‘While there has had to be a certain amount of conjecture in calculating staffing costs and training in an average practice, we have strived to be conservative throughout this investigation,’ Nick Ledingham, chairman of NASDAL, said.
‘We hope that by demonstrating the burden of costs faced by practice-owners that sensible policy decisions will be made.’
NASDAL has estimated that it costs £15,150 on an annual basis to meet the CQC regulation requirements alone.
The figure rises to £21,875 when registration fees and indemnity is added to this.
‘It now seems that almost every meeting that I have will involve some element of compliance,’ Simon Thackeray, full-time practitioner and occasional CQC special adviser, said.
‘It can be difficult to carry out a complete time and motion study but I think it is not unreasonable to suggest that one full day of a full-time member of staff’s week will be spent dealing with compliance related issues.
‘The cost of indemnity has more than doubled in a three-year period.
‘These seem to be spiralling out of control as our society becomes more litigious and we are able to offer more and more advanced treatments.’