Providers have now largely satisfied the enhanced monitoring requirements we imposed at initial registration, and, where this is the case, we have removed them.
As we move into a more established regulatory environment, we expect our use of enhanced monitoring, which seeks to mitigate increased risk, to significantly reduce. There are two particular areas where we expect enhanced monitoring requirements previously imposed to remain in place:
- cases where we have judged there to be an increased risk in relation to a provider’s financial viability and sustainability
- cases where we have imposed enhanced monitoring requirements as a result of our approval of the access and participation plans submitted by providers for 2020-21.
In the case of financial viability and sustainability, enhanced monitoring requirements remain an appropriate regulatory tool and we will contact relevant individual providers with details of our reporting requirements.
In the case of access and participation plans, enhanced monitoring requirements are currently paused and we plan to collect the information required previously through these reports as part of our annual monitoring of plans. We will confirm the approach to this through our annual monitoring guidance, which we plan to publish in November 2020.
We will continue to ensure that our interventions in any individual case are proportionate to the regulatory risk posed by a provider.