Accountants urging GPs to take pay cut
Medical accountants are advising GPs to consider reducing their pay at the start of the contract to insure against cash-flow problems.
Accountants said some GPs had cut their drawings to 80 per cent of their entitlement the equivalent of a pay cut, even after this year's pay rise because of worries over their practices' future income.
Concerns included the time- lag between hiring practice staff to improve quality and take on enhanced services and getting the cash for the work, and only getting one-third of quality money upfront, paid in monthly instalments.
Rosemary Smith, GP liaison manager at Sandison Easson in Wilmslow, Cheshire, said GPs could increase their pay at the end of the first year.
'Until we get through the first year it's difficult to ascertain what's going to happen.'
David Clough, chair of the Association of Independent Specialist Medical Accountants, said GPs should 'hold their horses' in the short-term because the rewards for extra investment would come through in 2005.