Head of Medical Services - BW Medical Accountants
I have worked as an accountant for >32 years, latterly specialising in the delivery of specialist accountancy and taxation services to over 145 GP Practices across the UK. With a proven track record and a wealth of experience I am now head of medical services at niche accountancy practice BW Medical Accountants.
Based on traditional professional values, our company brings together the full suite of financial services required by the primary care sector under one roof.
I can't imagine for one minute the practices at risk have not considered how they can make savings.There is no doubt that "the one size fits all" funding model just cannot work in remote rural areas where a GP surgery is required to serve the local population. Rural practice may already be dispensing so where are the additional income streams going to come from? Is it going to take a surgery to close before this broad brush approach is reconsidered - clearly the policy makers do not understand the full impact of these changes on the rural practice!
Based upon our client base I’m surprised the % is not higher. When it becomes obvious that the expected budget savings can’t be made and GPs are blamed then this will start the exodus. We have done numerous projections of clients pensions and when is the best time to retire to avoid the continued attack on GP pensions.
If this results in increased employer contribution rates this will be more bad news for GPs as presumably it will increase across the board and mean additional costs for staff and also GP employer contributions - we await for the details of the review!
Many Primary Care premises are already bursting at the seams and without investment the required shift of services from Secondary Care is just not possible. Surely it's time for the funding tap to be turned back on!
MPIG-reliant practice faces 25% drop in funding after NHS England backtracks on protection for 'outliers'
This will be highly damaging for the practices concerned and their sustainability will need to be closely monitored. Hopefully the proposed revision to the Carr-Hill Formula will soften the blow.
The review of PMS contracts has been "on the cards" for several years. We have already seen this take place in Northumberland with the inevitable drive down of core contract income.
The 7 day opening requires a rethink of the General Practice delivery model. It would be madness for practices to simply stretch their offer 12 hours a day over 7 days a week, meaning they must rethink their delivery model. Without rethinking the model they will destroy the very continuity which matters so much to patients. By taking a federated approach they can deliver the required redesign, and go on to provide excellent access and continuity in hours. In doing that, we know that demand for an urgent service and out of hours will be much much lower. It therefore makes sense for a federation to cover the 7 days 8 to 8 over larger populations, taking the stress and strain away from the practices.
Hundreds of GPs hit by pension scheme errors as accountants warn some face five-figure tax bombshell
This is not just about errors when added years contracts are involved. Our experience shows there is no pattern to when a statement may be inaccruate. Comments above are correct in that it appears only specialist accountants or IFAs are ahead of the game and understand the issues. The problem then is, if a member has a tax liability how should this be dealt with - this is not accounting/tax advice but regulated IFA advice. The clock is ticking down to the deadline and the timescale afforded to members to deal with the statements issued by NHSPA is totally inadequate.
Increases in bureaucracy will inevitably reduce the number of single handed GPs. When that is coupled with the constant squeeze on practice income, enhanced services being placed out for tender by AQP and rising costs, economies of scale available at larger practices and a sharing of the workload must lead to consolidation.