Rehab division enjoys €782k surplus

The health and social care services arm of the Rehab Group recorded an operating surplus of €782,000 last year, according to the latest accounts filed with the Companies Office.

Figures for RehabCare, a subsidiary of the disability services provider, reveal it recorded a surplus of €782,000 in 2013; an increase of more than 40% on the previous year’s figure.

Consequently, the company moved from holding on overall deficit to a having an accumulated surplus of €484,000.

Despite the improvement in the company’s financial position, RehabCare said its operating environment remained difficult, particularly as a result of decreased funding from the HSE.

“The underlying performance of the company continues to be challenging in light of five years of funding cuts from the Health Service Executive.

“Future developments are envisaged in the strategic plan which will be implemented once resources permit.

“2013 saw additional funding cuts from the [HSE] and 2014 will provide further challenges for the company,” the directors’ report states.

The social services provider recorded income of €44.69m for 2013, €43.78m of which was provided by the HSE.

The remaining 2% of its funding came from Fás and “other” sources.

In 2012, RehabCare’s income totalled €44.2m with €43.23m listed as being provided by the HSE.

A RehabCare spokesperson was not immediately available to clarify the apparent discrepancy in its claim that HSE funding was reduced despite the accounts suggesting otherwise.

RehabCare’s parent company, Rehab Group, has faced a turbulent year having been heavily criticised for its use of public monies, including the remuneration of a number of its senior executives.