It’s all about profitability on this week’s podcast. In the second of our Practice Index panels, Practice Managers Robyn Clark and Nicola Davies return and are this time joined by financial expert James Gransby to talk through the current pressures on practice income, particularly during this period of uncertainty. However they have also shared with us their practical advice for managing finances at a local level; how to maximise income, how to avoid commonly made mistakes, where to access the most up to date toolkits and resources to support good financial management and why some practices may operate differently but can be equally profitable.

 

Introduction (43 secs)

 

Is GP income down overall? (1 min 6 secs)

 

How do some practices maintain profitability whilst others are experiencing a drop in their income? (2 mins 43 secs)

 

Maximising income (Nicola’s approach) (3 mins 40 secs)

 

Robyn outlines the factors influencing profitability at her practice (5 mins 27 secs)

 

The importance of claiming income and checking you have been paid (6 mins 39 secs)

 

Common mistakes that practices are making (7 mins 2 secs)

 

The disparity in claim eligibility and the benefit of experience (8 mins 18 secs)

 

PCSE portal (10 mins 38 secs)

 

Dealing with the fallout of PCSE issues (10 mins 55 secs)

 

What is the decision-making process when presented with the opportunity of a new enhanced service? (11 mins 34 secs)

 

Why could an enhanced service prove profitable for one practice and not for another? (12 mins 44 secs)

 

What opportunities might practices be missing out on? (14 mins 24 secs)

 

The reasons why practices operate differently but can be equally profitable (16 mins 43 secs)

 

Final pay controls, pensions, and tax implications (19 mins 14 secs)

 

Robyn, Nicola, and James’ closing words of wisdom (20 mins 25 secs)

 

 

This is the blog James mentioned

 

Information about Practice’s Index’s PPA Toolkit can be found here

 

Another resource which has been really popular from AISMA and PI is here

 

Contact details for the panel are as follows:

• [email protected]
• [email protected]
• [email protected]