Shannondoc records €103k surplus, but still in the red

SHANNONDOC’S recently filed annual accounts show a surplus of over €103,000 for 2019, but the company remains in the red.

Its liabilities at December 31, 2019, exceeded its total assets by €141,813, and with the statements prepared on a going concern basis, the continued support of the HSE and member doctor contributions are necessary for the company to remain in operation.

Having filed a loss of €65,918 for 2018, the company performed better in 2019 to deliver a surplus of €103,591.

The financial statement read, “The validity of the assumption (that it will continue to operate) depends on the continued support of the Health Service Executive (HSE) and the member doctors’ contributions. The HSE has confirmed that it will continue to fund the company for the next 12 months subject to the terms of the Service Arrangement entered into with the company, which is renewed annually.

“The company has made a surplus for the second quarter of 2020 and is projecting a positive cash flow for the next 12 months based on expected cost savings and increased revenue.”

Shannondoc took in just over €7.3 million and according to the the accounts it took in €4.57 million from providing an out-of-hours service for the HSE.

It had an average of 112 employees throughout 2019, down from an average of 115 the year before. These consisted of 37 drivers, 33 medical staff and 42 administration staff.

In a section of the Director’s Report related to principal activities, it stated, “The company is principally engaged in providing primary medical care to cover for general medical practitioners outside of normal surgery hours.

“Shannondoc provide this cover for patients for 6,240 hours annually or 71% of the total annual hours.

“This service is provided to a population in excess of 390,000 in Clare, North Tipperary and Limerick. Shannondoc also provides a transport service for routine diagnostic samples from general practitioners’ surgeries to Health Service Executive laboratories. This service covers the entire mid west region and runs four days a week and, according to the statement, “makes efficient use of the existing company resources”.

“Shannondoc also facilitates the provision of GPs and psychology services providing clinical and professional services to the HSE Mid West Drug and Alcohol Service and the FME service in the Mid West.”