The Competition and Markets Authority (CMA) has today launched a market study into the private dentistry sector focusing on the supply of private dental services, including preventative, clinically necessary and cosmetic treatments in the UK.
Building on our earlier blogs – from preparing for the CMA’s focus on private dentistry to understanding the stages of a market study – this final instalment focus on practical, business-ready steps providers should consider taking now.
1. Establish an internal project team
Market studies move quickly, so consider putting in place a central team to coordinate the response. This team might include colleagues from operations; finance; governance or risk; clinical leadership and communications.
Agreeing roles and responsibilities in advance avoids last minute pressure and helps ensure that responses are consistent, accurate and appropriately authorised.
2. Map your data and check its readiness
CMA information requests can be detailed and time sensitive. Developing a clear picture of data sources, including operational and financial data, will make responding to information requests easier. Begin by identifying where key data sits; who owns it internally; how easily it can be extracted and how document retention / destruction policies apply.
3. Review governance and decision-making records
The CMA typically requests internal documents such as board papers, strategy documents, and management reports. Now is a good moment to confirm how company decisions are taken and recorded and where documents of this nature are stored.
4. Consider your strategic objectives and prepare for early engagement
Providers should consider their strategic objectives and what a market study may mean for their organisation. This includes understanding where a market study may present opportunities and risks and identifying the evidence that supports key points you may wish to make. Preparing early thinking on issues which are likely to be front and centre, such as transparency, pricing and patient choice, will enable consistent, evidence-based engagement with the CMA once the Statement of Scope is published.
5. Anticipate the operational impact
Responding to a CMA study can place pressure on teams and systems. Practical steps to minimise disruption may include identifying backfill options for key staff; considering whether external support may be helpful and building contingency into business-as-usual processes.
Looking ahead
A CMA market study is a significant regulatory event, but one that providers can prepare for.
If you would like to discuss how to prepare for engagement with the CMA or what a market study could mean for your organisation, our team would be happy to help.
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