2021 ANNUAL
REPORT Achieving our Strategic Goals Summary of Activities and Progress (July 2020 – June 2021)
THE COLLEGE The Royal Australian and New Zealand College of Radiologists (RANZCR)
The Values That Drive What We Do
Our Vision To lead best practice in clinical radiology and radiation oncology for the benefit of our patients and communities.
Our Purpose To drive the safe and appropriate use of radiology and radiation oncology to optimise health outcomes through leadership, education and advocacy.
Commitment to Best Practice Exemplified through an evidence-based culture, a focus on patient outcomes and equity of access to high quality care, an attitude of compassion and empathy.
Acting with Integrity Exemplified through an ethical approach: doing what is right, not what is expedient; a forward thinking and collaborative attitude and a patient-centric focus.
Accountability Exemplified through strong leadership that is accountable to members, patient engagement at professional and organisational levels.
Leadership Exemplified through a culture of leadership where we demonstrate outcomes.
Board of Directors
Clinical A/Prof Sanjay Jenganathan Dean, Faculty of Clinical Radiology
Dr Keen Hun Tai Dean, Faculty of Radiation Oncology
Dr Gabriel Lau Chair, New Zealand Branch
Dr Brigid Hickey Elected Fellow
Dr Alan Coulthard Elected Fellow
Dr Christian Wriedt Elected Fellow
Prof Vin Massaro Non-Fellow
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Dr Lance Lawler President
AMESSAGE FROM THE PRESIDENT Dr Lance Lawler
A year ago, in expressing my gratitude to colleagues, I concluded my annual report message with a hope of working with you all again in 2021, ‘whatever the circumstances’. Not exactly prophetic words because, as we hardly need reminding, what followed was chiefly more of the same. The extraordinary circumstances that first engulfed us in early 2020 still challenge us today, but I am pleased to be able to say that again they have brought out the best in the College’s workforce and membership.
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The COVID-19 pandemic has continued to dog and disrupt us in myriad ways but what has been most remarkable to observe these past 12 months was the College’s resilience and willingness of staff and volunteers to ‘go the extra mile’ and ‘keep the show on the road’ (although, in an era of repeated state and city lockdowns, travelrelated metaphors like these may not be the best descriptors). To help deal with the pandemic’s impacts on governance and management, the College invested in additional IT support to enable all staff to work from home and shift all its committee meetings online—and this has largely worked well for us.
My thanks to all, especially members of the COVID-19 Taskforce, now disbanded, who advised us on navigating the critical junctures. Education was the primary preoccupation during the year, which should come as no surprise, given the massive uncertainty visited upon our trainees in the 2020 examinations. In coping with the disruption, we upended and revised the exam timetable, migrated some exams to new platforms and moved closer to the adoption of electronic vivas. The workarounds were not perfect but, unlike some medical colleges, we were able to avoid cancellations. This was possible in large part because of the enormous response from volunteers willing to run exams locally rather than at the usual, centralised exam venues. We owe a huge debt to the staff and volunteers involved. During 2020–21 we completed a new draft strategy plan to guide the College’s activities over the next three years (2022–2024). This work followed the successful achievement of (or significant progress towards) the bulk of the aspirations set out in its predecessor, the Strategy to 2021. Among the achievements foreshadowed in the preceding strategy were the full reaccreditation of the College by the Australian Medical Council/Medical Council of New Zealand until 2024, the development of new practice standards (including for interventional radiology) and a raft of reforms to our training programs. Additional positions were created to support our exam volunteers and progress the transition to the new training programs. Need I remind everyone that the training reforms, which include updated handbooks for both specialties and new learning outcomes in areas such as artificial intelligence, will help to maintain this College as a global leader in bestpractice education.
Bedtime aficionados of corporate strategy documents may also notice in the new three-year draft strategy plan an explicit focus in our collegiate values on inclusivity and innovation. I’m happy to report that progress is already underway in both these areas. On inclusion, a major achievement for 2020–2021 was the development of our first action plan for Indigenous health in our region, viz. the health of Māori, Aboriginal and Torres Strait Islander peoples, and commitments to increase their numbers among our clinical radiologists and radiation oncologists. Our intention over the next triennium is to incorporate the action plan on Indigenous health into all relevant College activities. On innovation, in 2020–2021 we took an important further step towards the full adoption of digital health systems into clinical radiology practice, securing government funding for the implementation of electronic radiology referral and for the standardisation of the terminology used in referrals. Finally, during 2020 we lost our long-term CEO to parenthood, requiring the appointment of Mark Nevin as interim CEO to ensure a smooth transition in the senior ranks. Following a review of the position description by the Board, the College has advertised for applications for a permanent CEO. As this is my final annual report as president, I want to thank all those who assisted me in my term at the head of the College. It has been an honour to serve you, particularly in these difficult times, and I wish my successor, Sanjay Jeganathan, every success in his leadership. Whatever the circumstances.
THE YEAR AT A GLANCE
142 New Trainees
151
16
New Fellows
93% of respondents
rated their interaction with the College satisfactory/highly satisfactory
New Educational Affiliates
RANZCR RESEARCH GRANTS AWARDED
JMIRO IMPACT FACTOR
$97,905
$95,950
Clinical Radiology
Radiation Oncology
1.735
MEMBER REWARDS
THE COLLEGE ONLINE
College Social Media
4,007
4,677
3,930
followers on Twitter
followers on Facebook
followers on LinkedIn
22% of members have benefited from our Member Rewards Program
Targeting Cancer Social Media
5,132
3,105
followers on Twitter
RANZCR Website
201,531 users
339,087 PAGE 4
sessions
819,878 page views
followers on Facebook
Targeting Cancer Website
Inside Radiology Website
154,791
839,456
users, up 10.4% from 2019-20
243
pdf downloads
users
966,018 sessions
1,184,934 page views
RANZCR Annual Report 2020/21 / THE YEAR AT A GLANCE
MEMBER DEMOGRAPHICS
EVENT ATTENDANCE
4,788
Total Number of Members Specialty
1,702
4,027
733
Clinical Radioloists
Radiation Oncologists
Type
122
786
3
Educational Affiliates
Students
Gender
1,501 Female
3,239 Male
Fellows
(including 104 Life members)
ACT 93
TAS 71
NT 8
VIC 974
NSW 1,206
WA 391
QLD 744
NZ 714
SA 301
Overseas 252
MEMBER ENGAGEMENT SNAPSHOT members donating to our Education and Research Fund and the JP Trainor Archive Trust
47 1,641
participated in Special Interest Groups and Reference Groups
1,073
sitting on our committees, panels and working groups
39
Training Network Directors
(Clinical Radiology)
(Radiation Oncology)
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25 IMG Assessors
256 Directors of Training
Contributing to our publications JMIRO
1
Editor in Chief
Inside News
2
1
Deputy Editors
Editor in Chief
Associate Editors
Contributors
34
CT Colonography (CTC)
63
Branch Education Officers
A snapshot of some of the ways in which our members engaged with College activities in 2020/21
36
CREDENTIALING As at 30 June 2021, there are:
17
Training Network Directors
The RANZCR Events Team worked flexibly and adeptly through all the changes of the financial year 2020/2021 to deliver events in a new environment: online.
Reviewers
Number supporting our training program
14
delegates attended the Phase 1 Course in 2021
315
sitting on the Board and Faculty Councils
14
59
3,755
Associate Members
Location
delegates attended the RANZCR Webinar Series which consisted of 16 webinars in the series
Training Site Accreditation Assessors
174 RANZCR Examiners
339
registered CTC Specialists (radiologists only)
Interventional Neuroradiology (INR)
58
recognised INR Specialists (includes radiologists, neurologists & neurosurgeons)
Cardiac MRI
137
registered Cardiac MRI Specialists
(includes radiologists & cardiologists)
CT Coronary Angiography (CTCA)
656
registered CTCA Specialists Level A CTCA: 449 Level B CTCA: 207 (includes radiologists, cardiologists & nuclear medicine specialists)
KEY ACHIEVEMENTS Advocacy RANZCR members and staff delivered an impressive advocacy program in spite of COVID-related travel and border restrictions. Managing COVID, workforce issues, improved patient access to radiology and radiation oncology services, silicosis, digital health and artificial intelligence have been at the core of our advocacy work. Meetings were held with more than a dozen Members of Parliament and countless senior bureaucrats and Chief Medical Officers of New Zealand and Australia.
Budget Outcomes RANZCR’s advocacy work led to some positive outcomes in the 2021/2022 Australian Government budget. Indexation of fees for MRI services has been reinstated and $7.2 million has been allocated on a program to develop a new eReferral system. Medicare Benefits Review New MBS descriptors for radiation oncology practice were resolved with significant input from RANZCR. Radical prostatectomy explanatory notes were amended on the MBS schedule to encourage prostate cancer patients to seek the opinion of a radiation oncologist and urologist before commencing treatment.
Interventional Radiology Committee Publication of the RANZCR Road Map for Advancing Interventional Radiology and Interventional Neuroradiology in Australia and New Zealand. This document articulates the College’s commitment to defining, consolidating and advancing IR and INR as clinical radiology specialties with high standards that protect patient safety and enable best quality care. Advocacy for IR and INR in the Medicare Benefits Schedule Taskforce Review, highlights include advocating for a fairer, more transparent angiography schedule; and development of a Uterine Fibroid Embolisation position statement to support MBS review recommendations.
Standards of Practice for Artificial Intelligence RANZCR published landmark Standards of Practice for Artificial Intelligence. These standards provide a framework to ensure the safe application of AI in radiology practice, with details guiding the development, deployment and monitoring of AI in radiology. Ethical Referrals PAGE 6
RANZCR developed a statement on Ethical Referrals in Radiology. This paper was developed and consulted upon with members and stakeholders across Australia and New Zealand following issues raised by members of the New Zealand Branch.
Action Plan for Māori, Aboriginal and Torres Strait Islander Health Developed an Action Plan to: align the goals of the College with the health priorities of Indigenous peoples and the best-practice standards of the AMC and MCNZ; increase the numbers of Māori, Aboriginal and Torres Strait Islander clinical radiologists and radiation oncologists; embed cultural safety into clinical practice; and build strong links with representative groups in the Indigenous health sector.
RANZCR Annual Report 2020/21 / KEY ACHIEVEMENTS
Re-accreditation RANZCR reported against 20 AMC/MCNZ conditions and recommendations for 2021. New Zealand Workforce RANZCR has continued to advocate through the Ministry of Health (Te Aho/Cancer Control Agency and Health Workforce) for additional training positions. While this advocacy applies to both clinical radiology and radiation oncology, the focus has been on radiation oncology due to the anticipated number of retirements over this decade. Digital Health White Paper RANZCR developed a white paper titled Towards Interoperability: Clinical Radiology Forging the Path Ahead, A Vision for Clinical Radiology in the World of Digital Health, articulating our vision for Digital Health. The first of the priorities outlined in the paper kicked-off with an Australian Government funded Radiology Referral Set (RSS) project to recommend a terminology set that can be used for medical imaging referrals. An RRS landscape analysis project was carried out by RANZCR and the Australian Diagnostic Imaging Association in the tail end of the financial year which included extensive stakeholder engagement.
International Medical Graduates (IMG) Continued IMG Assessor recruitment and training in Australia and New Zealand Released IMG Stakeholder Consultation report Reviewed IMG Policy Continued IMG assessments through COVID-19 Some key statistics • 31 IMG Assessors • Three new IMG assessors recruited • 72 applications for assessment received • 72 IMG assessments undertaken online.
Targeting Cancer A new patient journey video was developed featuring a patient from regional Australia, with a plan to make others so that patients can communicate their own experiences to help others. The consumer-facing clinical content on the Targeting Cancer webpage was updated and refreshed. Continuing Professional Development Changes
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The Medical Board of Australia and Medical Council of New Zealand announced CPD reforms, and the College has been working towards ensuring these changes are reflected in the RANZCR CPD program. Through the Professional Practice Committee (Radiology) and Post Fellowship Education Committee (Radiation Oncology) members have been working hard over the past 12 months to align the College’s program to the regulatory body guidelines.
CEO Mr Mark Nevin
RANZCR Annual Report 2020/21 / KEY ACHIEVEMENTS
Specialty Training New Examination Panels Four new examination panels were recruited and launched, each panel focusing on an element of the Part 2 Clinical Radiology (CR) Examinations. There are now six panels and one committee supporting CR examinations, with a total of 54 members on these panels/committees:
Funding, Government and Training Placements
• CR Examination Advisory Committee
RANZCR successfully engaged with State jurisdictions to retain training posts that were identified to lose funding due to STP framework changes.
• CR Anatomy Examination Review Panel
•
• CR AIT Examination Review Panel • CR Pathology Examination Review Panel • CR Radiology MCQ Examination Review Panel • CR Case Reporting Examination Review Panel
New Examination Platform The IT Unit and the Specialty Training Unit (STU) fast tracked the new examination platform Practique to develop and deliver the CR e-Film exam in S2 2020 in approximately 12 weeks. e-Film Candidates: 184 Locations: Sydney, Wellington, Perth, Melbourne, Hobart, Canberra, Auckland, Adelaide and virtual proctoring.
Strategy and New Ways of Working Drafted the new College Strategy for 2022−24 and published for input from members, stakeholders and staff. PAGE 8
Modernised RANZCR’s Articles of Association to facilitate virtual and hybrid AGMs.
19 training posts were impacted in the STP framework changes (16 clinical radiology and 3 radiation oncology)—5 VIC, 4 NSW, 5 QLD, 3 WA, 1 SA and 1 ACT.
New expanded settings were implemented under the Specialist Training Placements and Support initiative to fill program vacancies resulting from the STP framework changes. •
Following the STP framework restructure, 7 new training posts in expanded settings were established to refill vacant positions, including 5 new regional posts. Six existing training posts were retained through eligible bundled rotations between public metropolitan and private and/or regional settings.
STU continued to exceed targets under the Commonwealth’s STP agreement for regional and private settings: • Approximately 26 regional posts funded • Approximately 27 private posts funded
RANZCR Annual Report 2020/21 / KEY ACHIEVEMENTS
Viva Examinations S2 2020 and S1 2021 CR Viva examinations were facilitated at a local level and supported by local Branch members to enable candidates to sit the examinations. S2 2020: 219 candidates, S1 2021: 198 candidates, sat the examinations all from one central location per Branch: Sydney, Auckland, Dunedin, Brisbane, Adelaide, Perth, Sydney and Melbourne. More than 150 members supported these series of examinations. RO Viva exams were delivered 100% virtually for the first time in 2020, in multiple locations. CR Part 2 Examinations Outcomes 228 candidates sat the Part 2 CR examinations in 2020 and 100 passed overall, meaning 100 candidates are eligible for Fellowship subject to completing all other requirements of the training program or IMG assessment requirements. Written Examinations Delivered in New Platform All written exam components for CR Part 2 Series 1 2021 were run successfully in the new Pratique platform. Due to delays with Series 2 2020 caused by COVID, the IT team and Exams team had roughly 8 weeks to learn how to create exams in the new platform. Moving all written exam components to the new platform allowed the College to deliver the examinations in multiple local venues for candidates, reducing the need for travel to a handful of central locations. Part 1 S1 2021: 106 | Part 2 S1 2021: 131 Locations: Sydney, Melbourne, Brisbane, Hobart, Canberra, Auckland, Christchurch, Adelaide, Perth and Singapore. RO Phase 2 Examinations Outcomes PAGE 9
Twenty-one candidates sat the Phase 2 RO examinations in 2020 and 17 passed. This means 17 candidates will be eligible for Fellowship subject to completing all the other requirements of the training program or IMG assessment requirements.
Director of Training Induction and Upskilling Developed and implemented Directors of Training webinars for induction and upskilling sessions to support DoT training during COVID-19 travel restrictions. • 15 webinars held • Six webinar topics • 178 members participated.
Training and Assessment Reform Designed, developed and commenced a full program of web-based and faceto-face information sessions to support the rollout of the 2022 Training Program and communicate changes to the training program to all members.
New Internal Unit RANZCR created an internal Workforce Unit to grow the clinical radiology and radiation oncology workforces, improve their distribution and ensure they represent the peoples of Australia and New Zealand.
“During the pandemic, we were able to avoid cancellations of examinations..because of the enormous response from volunteers willing to run exams locally rather than at the usual, centralised exam venues. More than 200 volunteers ran the S2 exams. We owe a huge debt to the staff and volunteers involved.”
Dr Lance Lawler
COVID-19 College Taskforce
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COVID-19 College Taskforce
PA G E 11
NEW FELLOWS Clinical Radiology New South Wales Chaitanya Ambati Vivek Baskaran Olivia Bennett Dina Bestawros Kate Bollard Nicholas Cheung Nicholas Chieng Henora Chour Tzu-Yun Chung Ross Copping Stephen Figar Shivany Gnaneswaran Moatasem Bellah Gomaa Ismail Goolam James Hillhouse Saif Jameel Laximi Juvarkar Owen Kang Makarand Kulkarni Chun Bong Kwok Suang Kiat Lau Kirsti Lee Suchitra Mantrala David Meiklejohn Catherine Naidoo Lan Nguyen David Ong Elliott Palmer Scott Quadrelli Rohini Rathod Ashton Reeve Reid Schofield Renee Shepherd Bronwyn Shin Vijaylaxmi Keith Wong Richard Woodford King Lee Yong
Queensland
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Emel Allan Evyn Arnfield Graham Ashburner Venkata Avinash Chikatamarla
Michelle Craigie Yamal Dassanayake Emily Doan Assia Ghani David Hill Sidra Humayun John Keller Seema Kembhavi Rima Kumari Kevin Leong Pablo Lorenzzoni Chris Luis Nicole Maggacis Guido Marks Don Ngo Amie Rieseberg Samuel Smith Jacob Therakathu Dirk Tromp Nicole Waters Roger Wilson Laura Ziraldo
South Australia Thanh Duong Jas Gill Kerolos Hendy Andrew Ng Audrey Pinna Adela Tashkent Vidisha Vaidya Filipe Vilas Boas
Victoria Dinusha Abeysekara Nadira Ali Xiao Chen Smita Deb Joshua Friedman Dayu Gai Calvin Gan Xin Lyn Goh Jonathan Hall George Harisis Alexander Jarema Ali Khabaza Michael Kreltszheim Christopher Lee
Shisheng Lu Matthew Lukies Heather Moriarty Leonard David Ng Sheng-Fei Oon Nishanthinie Parathithasan Danielle Richmond Madeleine Scicchitano Johan Smalberger Shu Su Stefani Tan Aaron Wong
Western Australia Nathan Burns Vicci Clark Du Plessis Amber Gupta Bovithanthri Kariyawasam Joel Lim Shoba Ratnagobal Julian Soares Shrivuthsun Srigandan Stephanie Tan Silvia Tomas Hernandez
Overseas Akhmid Aziz Ruchi Kabra Priyanka Singh Ankur Srivastava
Radiation Oncology New South Wales Natalie Collier Rodrigo Diaz Samuel Dickson Farshad Kasraei Helen Lo
Queensland Rainer Frohling Shilpa Narula Mun Yee Tan
South Australia Vincent Pow
Victoria New Zealand Clarke Baker Nicholas Begg Sarah Benson-Cooper Devarshi Bhattacharyya Kevin Chen Terrianne Cripps Lisa Debono Stephen Delvisco James Finch Arun George Kamal Hapuarachchi Leo Kallarackel Gary Lee Bonnie Wan Sze Leung Gayani Mallawa Arachchi Simone Oldham Wei Chan Pun Adrian Schankath
Muhammad Ali Clare Bajraszewski Nicholas Bucknell Phoebe Chidley Tze (Violet) Koh Michelle Li Janice Yeh
Western Australia Nina Stewart
New Zealand Su Chen Fong Vikash Patel
Overseas Yael Mark
SUPPORT FROM OUR MEMBERS AND SPONSORS College Donors The College is very grateful to the following Fellows and Members who have donated to the annual appeals for the Education Fund, the Research Fund and the JP Trainor Archive Trust. We also thank those members who declined to have their donations recognised. Brendan Adler Sameh Saied Ali Fiona Bettenay Gillian Beveridge David Boshell David Byram York Cheung Weng Chin Julie Chu Andrew Clarke John Cockburn Colin Dicks Leanne Du Peter English Joseph Fasulakis Matthew Foote Glaucia Fylyk Daniel Gierhake Derek Glenn Stacy Goergen Nirdosh Gogna
Louise Gorman Mary-Louise Greer Sanjay Jeganathan Sandeep Joshi Alan Klevansky Ipeson Korah Walter Kos Ratna Koyyalamudi Issa Kuria David Kusuma Numan Kutaiba Jan Labuscagne Barbara Laing Jane Li Genevieve Loos Ronny Low Joanna Ludbrook Ky McGrillen Anitia McNamee Debra Meerkotter Manish Mittal
Conor Murray Bindumadhao Nagarkar Siroos Nasibi Kanake Muriuki Ndii Kenneth Neale Farid Nejaddadgar Kim-Son Nguyen Kimberley Nolan Yang-Yi Ong Amanda Palmer Geoffrey Peretz Ramu Popuri Michael Poulsen Stanley Rajapakse Siva Rajaratnam Tulasi Ramanarasiah Joseph Richter Sarah Saha Mitra Samazis Tayyuba Saqib Andrew Scott
Sachal Sharma Mehraj Sheikh Darryl Shnier Harikrishna Sivaganabalan Piyush Siwach Pradeep Sonwalkar Abdul Tahir Keen Hun Tai Amit Tripathi Lourens Van Der Westhuizen John Vedelago Denise Warner Philip Weeks Gregory Wheeler Garvin Williamsz Rauf Yousaf Nazanin Zarerad
Palette Life Sciences Australia Pty Ltd
We acknowledge the valuable support provided during the year by our supporters and sponsors.
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3M Health Information Systems
Comrad Medical Systems
I-MED Radiology Network
Device Technologies
Integral Diagnostics
Aidoc Medical
EIZO Oceania
Philips
alphaXRT
Elekta
Intelerad Medical Systems
Annalise AI
EPIC-X Pty Ltd
Kestral
ARTRYA
Everlight Radiology
AstraZeneca Australia
Foxo Technology
Austin Health Bard Australia Pty Ltd
GCG Global Healthcare Pty Ltd
Lumus Imaging (previously Healthcare Imaging)
Professional Radiology Outcomes
Brainlab Australia Pty Ltd
GE Healthcare
Canon Medical Systems
Guerbet
Cipla Australia
Healthinc Pty Ltd
Prescript Recruitment
Qscan Group Sectra
MDA National
Siemens Healthineers
Medical Wealth Advisory
Varian
Micro X
Volpara Health
Mundipharma
TREASURER’S REPORT Dr Brigid Hickey
The Financial Statements for the year ending 30 June 2021, along with the auditor’s report are presented in this document. Detailed versions are available from the College website: www.ranzcr.com. 2021 was a year where the COVID-19 pandemic continued to create unprecedented challenges in our operating environment through unanticipated lockdowns that varied in their impact across Australia and New Zealand. Despite this disruption, the College persevered with core activities, working up alternative or interim arrangements where possible. Expenses and cashflow were also prudently managed due to the level of uncertainty. Consequently, the College’s financial position is enhanced. The total FY 2021 net surplus is $3.1M before the surplus from property revaluation ($11M) and unrealised investment gains ($1.66M). Net income for 2021 is therefore $15.7M. Listed below are once off events impacting 2021 financial performance: •
Receipt of $1.1M JobKeeper grant due to loss of income from postponed exams, and cancellation of ACR courses and ASM.
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•
Decentralised exams were successfully held in nine locations between Sep–Nov 20 and Mar– May 21 despite inconveniences from changing circumstances and localised lockdowns. Total exam fees were $3.1M vs $1M in prior year.
•
Committee & Meeting cost is $1.8M below last year resulting from inability to hold in person meetings throughout the year.
•
Substantial gain from the revaluation of RANZCR office premises, consequently, a revaluation gain of $11M is recorded in 2021 financial statements.
•
RANZCR investment portfolios performed well due to the recovery in the equity market and active management with the assistance of the appointed investment advisor ESCALA Partners. Total gain of $2.4M with realised interest & gain of $750k and unrealised $1.66M. The closing value of total funds under investment was $19.4M (up from $17M in 2020).
•
Changeover in CEO added to the staff budget as did associated recruitment costs.
•
Higher expenditure on information technology to support virtual working and progress projects such as E-exams, learning management system LMS, and the rolling out of Training and Assessment Reform.
Advocacy and Quality RANZCR’s advocacy continued but pivoted to meetings and advocacy to senior bureaucrats like chief medical officers who took on a major role under public health legislation. Our established networks and existing coalitions proved invaluable to progressing our key priorities. For the first time in many years, RANZCR received project funding from a government to advance our quality agenda, with a grant to develop the Radiology Referral Set as a building block for interoperability in digital health. Program Funding The Specialist Training Program (STP) resumed from January 2021 for the calendar year. The program covers the College’s related overhead costs as well as supporting the development of a regional workforce, which benefit the community and our profession. RANZCR is working with Department of Health on the new round of funding covering 2022– 2024 with potential to increase the number of STP posts the program will support.
Membership Subscriptions In order to balance the books in future years when costs are expected to return to pre-COVID levels, the Board resolved to increase membership subscription fees by 3%, hence the 2021−2022 annual subscription is at $2,880 for Fellows and Educational Affiliates. Donations and Other Support The College is grateful for the invaluable support it received from its Fellows, members, corporate supporters and associated organisations throughout the year: detailed acknowledgement is available on page 13 of this report. The College is also very grateful to Fellows and members who have donated to the Education and Research Fund annual appeal. Outlook and new norm Looking ahead, the College is well positioned financially to support major project like implementation of the new three-year strategy plan, and many satellite projects to improve the quality and accessibility of clinical radiology and radiation oncology in both countries. The Board has supported increased investment in staffing to position the College to deliver against the next strategy. The College’s digital transformation will continue, leading to increased IT expenditure to maintain the security and reliability of the College’s infrastructure. This will support continued flexibility for staff to work from home and improve the user experience for core functions like virtual committee meetings. Investment markets will continue to be volatile, so the growth rate in investments is expected to be curtailed, with the prolonged impact of COVID-19 and the risks of geo-political conflict.
AUDITOR’S REPORT
Independent Auditor’s Report To the Members of The Royal Australian and New Zealand College of Radiologists Report on the audit of the financial report Opinion We have audited the financial report of The Royal Australian and New Zealand College of Radiologists (the “Registered Entity”), which comprises the statement of financial position as at 30 June 2021, the statement of profit or loss and other comprehensive income, statement of changes in funds and statement of cash flows for the year then ended, and notes to the financial statements, including a summary of significant accounting policies and the Responsible Entities’ declaration. In our opinion, the financial report of The Royal Australian and New Zealand College of Radiologists has been prepared in accordance with Division 60 of the Australian Charities and Not-for-profits Commission Act 2012, including: 1. giving a true and fair view of the Registered Entity’s financial position as at 30 June 2021 and of its financial performance for the year period then ended; and 2. complying with Australian Accounting Standards and Division 60 of the Australian Charities and Not-for-profits Commission Regulation 2013. Basis for opinion We conducted our audit in accordance with Australian Auditing Standards. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Report section of our report. We are independent of the Registered Entity in accordance with the ethical requirements of the Accounting Professional and Ethical Standards Board’s APES 110 Code of Ethics for Professional Accountants (the Code) that are relevant to our audit of the financial report in Australia. We have also fulfilled our other ethical responsibilities in accordance with the Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Emphasis of matter – COVID-19
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We draw attention to Note 23 of the financial report, which describes the circumstances relating to the material subsequent events regarding COVID-19 and the uncertainty surrounding any future potential financial impact. Our opinion is not modified in relation to this matter. Directors: Colleen Hosking | Grace Shen Liability limited by a scheme approved under professional Standards Legislation
AUDITOR’S REPORT Responsibilities of the Responsible Entities for the financial report The Responsible Entities of the Registered Entity are responsible for the preparation and fair presentation of the financial report in accordance with Australian Accounting Standards and the Australian Charities and Not-for-profits Commission Act, and for such internal control as the Responsible Entities determine is necessary to enable the preparation of the financial report that is free from material misstatement, whether due to fraud or error. In preparing the financial report, the Responsible Entities are responsible for assessing the Registered Entity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Responsible Entities either intend to liquidate the Registered Entity or to cease operations, or have no realistic alternative but to do so. Those charged with governance are responsible for overseeing the Registered Entity’s financial reporting process. Auditor’s responsibilities for the audit of the financial report Our objectives are to obtain reasonable assurance about whether the financial report as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with the Australian Auditing Standards will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this financial report. As part of an audit in accordance with the Australian Auditing Standards, we exercise professional judgement and maintain professional scepticism throughout the audit. We also:
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•
Identify and assess the risks of material misstatement of the financial report, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
•
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Registered Entity’s internal control.
•
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Responsible Entities.
•
Conclude on the appropriateness of the Responsible Entities use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Registered Entity’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial report or, if such disclosures are inadequate, to modify our opinion. Our conclusions are
AUDITOR’S REPORT based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Registered Entity to cease to continue as a going concern. •
Evaluate the overall presentation, structure and content of the financial report, including the disclosures, and whether the financial report represents the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
Hui Na Grace Shen Director Allworths Assurance & Advisory Pty Ltd Sydney, 31 August 2021
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FINANCIALS The Royal Australian and New Zealand College of Radiologists Statement Profit orand Loss Other Comprehensive The RoyalofAustralian New and Zealand College of Radiologists Income For Statement the year of ended 30loss June profit or and 2021 other comprehensive income For the year ended 30 June 2021 Consolidated NOTE
2021 $
2020 $
17,449,796
17,068,920
451,620
399,153
315,218
(146,385)
35,050
18,502
801,888
271,270
(8,771,908)
(7,900,570)
(439,931)
(2,243,189)
-
(1,098,320)
(131,542)
(258,329)
(2,212,301)
(2,006,414)
Journal production and postage
(160,516)
(258,508)
Occupancy costs
(175,459)
(166,680)
(471,090)
(448,547)
(54,807)
(56,417)
(365,146)
(262,112)
(35,473)
(48,332)
(2,353,790)
(1,355,469)
(15,171,963)
(16,102,887)
3,079,721
1,237,303
11,003,909
-
1,659,449
(582,537)
-
546,231
(261)
3,395
Other comprehensive income for the year
12,663,097
(32,911)
Total comprehensive income for the year
15,742,818
1,204,392
Revenue from continuing operations
3
Other income Interest and dividend income Net (loss)/gain on financial investments at fair value through profit or loss Other
Expenses Employee benefits expense Council and committee costs Annual Scientific Meeting costs Printing, publicity and public relations Professional, consulting and legal fees
Depreciation and amortisation expense Accounting and audit fees Finance costs and banking charges Communication expense Other administration expenses Total expenses Surplus for the year
8
Other comprehensive income Items that will not be reclassified subsequently to profit or loss Gain on the revaluation of land and buildings Gain and loss revaluation of equity instruments at fair value through other comprehensive income Gain on reclassification of prior year unrealised gains and losses from equity instruments Loss on foreign currency translation
PAGE 18
The above statement of profit or loss and other comprehensive income should be read in conjunction with the accompanying notes found in the full financial report for 2020–2021 on the College website.
RANZCR Annual Report 2020/21/ FINANCIALS
The Royal Australian and New Zealand College of Radiologists Statement of Financial Position As at 30 June 2021 The Royal Australian and New Zealand College of Radiologists Statement of financial position As at 30 June 2021 Consolidated NOTE
2021 $
2020 $
Assets Current assets Cash and cash equivalents
4
7,829,460
5,488,082
Trade and other receivables
5
1,073,946
1,296,824
Other assets
6
651,164
702,399
9,554,570
7,487,305
Total current assets Non-current assets Financial assets
7
19,405,820
16,995,702
Property, plant and equipment
8
14,592,819
3,594,969
Right of use assets
9
302,351
352,479
Intangibles
10
26,297
Total non-current assets
34,327,287
16,480 20,959,630
Total assets
43,881,857
28,446,935
Liabilities Current liabilities Trade and other payables
11
6,617,812
5,270,854
Contract liabilities
12
9,048,002
10,682,850
Lease liabilities
13
97,495
59,541
Employee benefits provisions
14
850,164
836,521
16,613,473
16,849,766
299,598
Total current liabilities Non-current liabilities Lease liabilities
15
215,434
Employee benefits provisions
16
146,819 362,253
134,258 433,856
Total liabilities
16,975,726
17,283,622
Net assets
26,906,131
11,163,313
Total non-current liabilities
Funds Fair value reserve
17
12,627,052
(36,306)
Reserves
18
2,557,316
2,462,749
11,721,763
8,736,870
26,906,131
11,163,313
Accumulated funds PAGE 19
Total funds
The above statement of financial position should be read in conjunction with the accompanying notes found in the full financial report for 2020–2021 on the College website.
RANZCR Annual Report 2020/21 / FINANCIALS
The Royal Australian and New Zealand College of Radiologists Statement of Changes in Equity ForThe theRoyal yearAustralian ended 30and June New2021 Zealand College of Radiologists Statement of changes in equity For the year ended 30 June 2021
Consolidated Balance at 1 July 2019
Reserves
Accumulated funds
$
$
$
2,791,281
7,713,871
10,505,152
-
(546,231)
(546,231)
2,791,281
7,167,640
9,958,921
-
1,237,303
1,237,303
Adjustment for reclassification Balance at 1 July 2019 - restated
Total funds
Surplus for the year Other comprehensive income for the year
(32,911)
Total comprehensive income for the year
(32,911)
1,237,303
Transfers from reserves to accumulated funds
(331,927)
331,927
Balance at 30 June 2020
2,426,443
8,736,870
11,163,313
Accumulated funds
Total funds
Reserves $
Consolidated
(32,911)
$
1,204,392
$
2,426,443
8,736,870
11,163,313
-
3,079,721
3,079,721
Other comprehensive income for the year
12,663,097
-
12,663,097
Total comprehensive income for the year
12,663,097
3,079,721
15,742,818
94,828
(94,828)
15,184,368
11,721,763
Balance at 1 July 2020 Surplus for the year
Transfers from reserves to accumulated funds Balance at 30 June 2021
26,906,131
The above statement of changes in equity should be read in conjunction with the accompanying notes found in the full financial report for 2020–2021 on the College website.
PAGE 20 6
RANZCR Annual Report 2020/21 / FINANCIALS
The Royal Australian and New Zealand College of Radiologists Statement of Cash Flows For the 30 June 2021 Theyear Royalended Australian and New Zealand College of Radiologists
NOTE
Consolidated 2021 2020 $ $
Cash flows from operating activities Receipts from grants, managed government programs and COVID-19 funding
5,317,679
6,015,119
11,643,210
9,862,723
5,527,996
5,244,694
879,883
109,374
(20,572,368)
(21,632,151)
2,796,400
(400,241)
Payments for property, plant and equipment
(474,848)
(273,500)
Net proceeds from /(purchase of) financial assets
(435,451)
2,507,859
451,620
399,153
(458,679)
2,633,512
Interest and principal payments for lease liabilities
3,918
(128,427)
Net cash from/(used in) financing activities
3,918
(128,427)
Net increase in cash and cash equivalents
2,341,639
2,104,844
Cash and cash equivalents at the beginning of the financial year
5,488,082
3,379,843
Effects of exchange rate changes on cash and cash equivalents
(261)
3,395
7,829,460
5,488,082
Receipts from members Receipts from exam, training and education, courses, and other service revenue Other receipts Payments to suppliers and employees Net cash from/(used in) operating activities
24
Cash flows from investing activities
Interest and investment income Net cash from/(used in) investing activities Cash flows from financing activities
Cash and cash equivalents at the end of the financial year
4
The above statement of cash flow should be read in conjunction with the accompanying notes found in the full financial report for 2020–2021 on the College website.
PAGE 21 7
COLLEGE GRANTS AWARDS AND PRIZES in the Year 2020–2021 COLLEGE HONOURS Roentgen Medal Prof Michael Poulsen A/Prof Margot Lehman Gold Medal Prof John Slavotinek Clinical Radiology Educational Service Award Dr George Foote Denise Lonergan Educational Service Award Dr Claire Hardie
Life Membership Dr Fiona Bettenay Dr John Pike A/Prof Andrew Whyte Dr Cheryl Bass RESEARCH AWARDS & GRANTS Withers and Peters Grant Dr Vicky Chin Faculty of Radiology Bourne and Langlands Prize Dr Teng Hwee Tan Clinical Radiology Early Career Researchers Prize Dr Julian Maingard Quality Research Prize Dr Farshad Kasraei
Indigenous Health Prize Dr Scott Carruthers Clinical Radiology Research Grants Dr Arian Lasocki Prof Stacy Goergen Dr Helen Frazer Prof Alan Coulthard Dr Sijing Feng Radiation Oncology Research Grants Dr Yu Yang Soon Dr Michelle Or Dr Chris Daniels EDUCATIONAL FELLOWSHIPS Rouse Travelling Fellowship Dr Helen Moore Thomas Baker Fellowship Dr Michael Chan International Development Fund Dr Mei Ling Yap
EXAM PRIZES CE Eddy Prize Clinical Radiology 2019 Dr Tracy Liu 2020 Dr Douglas Dunn CE Eddy Prize Radiation Oncology 2019 Dr Matthew Knox 2020 Dr Michael Hsieh HR Sear Prize 2019 Dr Evyn Arnfield 2020 Dr Malcolm Gill MGF Donnan Prize 2019 Dr Grace Hennessy 2020 Dr Nandula Dayan Dantanarayana Uhr Clarke Bursary (QLD) 2019 Dr Evyn Arnfield 2020 Dr Stephanie Tan ASM PRIZES Clinical Radiology Branch of Origin Dr Tahleesa Cuda OBEX William A Cook Award Dr Rishi (Devarshi) Bhattacharyya
Deceased Members It is with regret that we record the deaths of the following members during the year under review:
PAGE 22
Dr Ian Benn Fellow NSW
Dr Sharlyn Kang Fellow NSW
Dr Michael Berger Educational Affiliate NSW
Dr Ihor Kociumbas Fellow NSW
Dr Colin Bull Life NSW
Prof David Lamb Life NZ
Dr George Chapman Life NSW
Dr David Shipp Fellow NZ
Dr David Green Life NSW
Dr Hermann van der Vyver Fellow NZ
Dr Norman Johnston Fellow VIC
Dr John Violet Fellow VIC
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