Medilink North of England News 2019 Medilink NOE News 2019 | Page 9
FINCH INSURANCE
As insurance and employee benefits advisors to
many companies in the medical sector, here are
two of the main issues our clients are raising
with us:
Stockpiling:
Many businesses have taken the step of
substantially increasing their stock levels to
prevent against shortages and rising costs. In
such circumstances, two factors need to be
balanced. Firstly, the level of stock insurance
held by the business needs increasing to
recognise the increased value at risk. Secondly,
depleting cash flow to pay for stock could affect
a business’s ability to buy, or be covered by,
credit insurance which is a valuable tool in
protecting a business from bad debt.
The battle for talent:
With Brexit looming, businesses are even more
worried about their ability to attract people from
the EU. To position themselves as ‘employers
of choice’ businesses are having to invest
in enhanced Employee Benefit and rewards
structures for their people.
Neal Lumb - Director - Finch
07599 718453 | [email protected]
REAL STAFFING
Brexit has had a big impact on staffing and resourcing,
especially due to the extended period of uncertainty. A
real concern for many organisations in the Life Sciences
sector is losing EU migrant workers who may return
home due to Brexit. This can be an issue for companies
as they look to retain and grow their teams, particularly
in an ever-expanding market where demand outweighs
supply.
One way to mitigate risk is to understand which
positions fit into ‘low-skilled’ vs ‘high skilled’, as high
skilled workers will be given priority, compared to low
skilled workers who are at a greater risk to proposed
immigration changes.
At Real Staffing we have seen a 36% increase in interim/
contract spend year on year as companies increasingly
turn to flexible solutions such as high skilled interim
specialists/consultants to deliver projects – particularly
with the looming MDR / IVDR deadlines.
Ryan Collett - Business Manager - Real Staffing
0113 241 6690 | [email protected]
COMMERCIAL LAW SPECIALISTS HILL DICKINSON
The health tech and life science sectors
are notable not only for the breadth of
regulation which applies to them, but also
for the extent to which that regulation
is harmonised within the EU. Much EU
legislation has already been incorporated
into UK law and will remain in place
post-Brexit. By contrast, EU Regulations
are directly applicable without the need
for national legislation so will no longer
including:
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In the event of a ‘no deal’ Brexit, statutory
instruments will come into force as a
guillotine to revoke certain EU Directives
and Regulations adopted into UK law. The
MHRA has published guidance about
its implications, a ‘no deal’ outcome
would be a drastic, unattractive way for
the UK to exit the EU and would make
ongoing close cooperation with the
EU extremely difficult. There is also
apply when the UK leaves the EU, unless It is therefore preferable that the UK Government guidance on the implications
specifically adopted. The UK’s withdrawal agrees a form of regulatory cooperation of a ‘no deal’ Brexit for companies in
from the EU offers an opportunity to with the EU, allowing the UK to remain this sector, but it remains to be seen
review existing regulation, and it may aligned with current and future regulatory how these arrangements will operate in
be that certain aspects of EU regulation frameworks. It would also be beneficial practice. A structured withdrawal with an
are deemed to be unnecessary post- for the UK to remain actively involved in associated transition period offers a more
Brexit. However, divergence from the EU regulatory processes and decisions, comprehensive regulatory framework vigilance systems, and policy development.
gives rise to a range of challenges,
manageable outcome.
James Lawford Davies – Partner
- Hill Dickinson LLP
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