At the moment I get the impression that IPEM is the only option if we are regulated under the auspices of the HPC and our NHS employer (I am employed by the NHS) requires some of those in more senior roles, perhaps, to be regulated. The HPC has made it clear in consultation documentation that they will "honour" the application made by the VRCT.
It's also apparent from the consultation document that individuals working in the private sector in job roles included under the clinical technologist "umbrella" would also have to be regulated thus private-sector employers would definitely need to comply with the requirements of regulation with respect to protected job roles. Otherwise they wouldn't be allowed to work unsupervised within NHS organisations I reckon.
However I notice that the HPC's requirements may have now changed so that it becomes more difficult for regulation of clinical technologists to take place without some evidence of suitable academic courses and suitable training being in place and evidence provided by VRCT. This means an accredited degree for new entrants, appropriate training and a defined career path including CPD is likely if regulation is to take place.
Obviously this would be awkward for employers that don't want the overhead, in terms of organisation and costs, or employees who can't, or don't want to meet, the minimum requirements of inclusion in the VRCT. Once the HPC takes over whether you're in the private or public sector it won't matter as long as your working in a protected job role and being regulated, i.e. registered. Is my interpretation way off mark I wonder?
Back in the real world I wonder whether VRCT will actually be able to meet the HPC requirements - I'm not certain if the courses are out there at the appropriate academic level to suit the HPC. Personally I hope the HPC accepts Diploma level (L3/L4?) qualifications like they do for ODPs. This may give some hope to those who don't quite meet the academic requirements at the moment who don't want to study for a degree.