Liverpool corporate health cash plan provider Medicash to give £2.1m to the NHS across the North West after enjoying a period of ‘phenomenal growth’. Tony McDonough reports
Corporate health cash plan provider Medicash is pledging to give £2.1m to NHS hospitals and facilities across the North West over the course of the next four years.
Founded in the charity hospitals of Liverpool in 1871, Medicash has become the UK’s oldest and largest corporate health cash plan provider. In February it reported it had signed up 125,000 new policyholders in 2022.
This was a record increase that took the total to 482,000. Now it has revealed its has passed the half million mark in 2023 and to celebrate its charitable arm, the Medicash Foundation, is pledging to significantly increase its support for the NHS
Medicash, which has its headquarters in Derby Square, has yet to publish its financial results for the year on Companies House. In September LBN revealed the business reported a rise in revenues to £34.5m for 2021 but a fall in pre-tax-profits to £8.5m.
With 2022 representing the company’s fastest growing year on record with a new policy sold on average every two minutes, this latest milestone sees Medicash’s customer base more than double in less than five years.
This growth comes alongside both national industry recognition, with the business collecting accolades including National Insurer of the Year and Best UK Healthcare Plan Provider in the first few months of 2023.
The first hospital to receive funding as part of Medicash’s latest charity undertaking is the newly established Clatterbridge Cancer Centre in Liverpool.
Built in 2020 in the city’s Knowledge Quarter, the centre offers cutting-edge cancer treatment for patients across Merseyside and Cheshire.
As part of Medicash’s four-year project, the foundation has announced a new partnership with Clatterbridge Cancer Charity. It will help fund a new post for a trainee research advanced nurse practitioner to support clinical trials and research.
This postholder will play a vital role in the centre’s research and development team, facilitating the delivery of revolutionary new cancer treatments to bolster the fight against cancer.
Sue Weir, chief executive of Medicash and Medicash Foundation Trustee, said: “The phenomenal growth that Medicash has seen in recent years is the direct result of just how much we value good health and wellbeing in the modern world.
“Our goal is to provide as many people as possible with easy, affordable access to the healthcare they and their families need, and I’m proud to know that this ethos has helped us to reach this incredible milestone.”
Emma Whitby, head of research nursing at The Clatterbridge Cancer Centre, said: “As a research nurse, our job is all about the holistic care that we can offer our patients – being able to adapt to their needs while providing cutting-edge treatment.
“The funding that Medicash is providing equips our team with even more advanced skills, enabling our patients to be seen by a highly qualified healthcare practitioner that can speed up their treatment process and get them home quicker.