Pre-tax profits at the group which operates the Blackrock Clinic in south Dublin last year more than doubled to €14.5 million.
New accounts filed by the Larry Goodman-family Trust owned Blackrock Hospital Ltd and subsidiaries show that the health group recorded the 128 per cent increase in pre-tax profits from €6.35 million to €14.5 million after revenues surged by 21.5 per cent to €158.48 million.
The directors attribute the increase in profits in 2021 to the fact that the previous year, the hospital’s entire facility was given over to the provision of public health services for a three-month period as part of the national effort in dealing with the Covid-19 pandemic. They say that during that period, the hospital operated on a not-for-profit basis.
The directors state that although the hospital continues to increase activity, the cost of providing healthcare remains a concern as medical inflation is not being matched by price increases from health insurers.
Staffing
Numbers employed at Blackrock Clinic last year increased from 955 to 996 and in addition, the hospital indirectly employed 107 through catering and cleaning sub-contractors.
Staff costs last year increased from €56.15 million to €64.26 million that included a spend of €3.1 million on temporary and agency staff and €1.2 million on recruitment, training, medical and uniforms.
On the labour challenges facing the business, the directors state that “the shortage of suitably experienced and qualified medical personnel will continue to pose a major challenge for both the public and private sectors over the next few years and accordingly the hospital’s ability to recruit staff will be crucial as it continues to expand its services to meet the growing demand for healthcare.”
A note attached to the Blackrock Hospital Ltd accounts states that the hospital is seeking to recover €1.2 million in legal costs awarded to it by the High Court taxing master from a former shareholder and director.
The former shareholder and director had initiated a series of shareholder legal actions where the Blackrock Hospital Ltd was named as a defendant.
