Five steps to setting up an expense-sharing partnership (1 CPD hour)
Ross Clark explains how to form a partnership to help share costs or tasks that may be too big for one practice alone
This module offers advice on protecting small practices from financial shocks, covering:
- Founding a resource-sharing arrangement with other small or singlehanded practices locally
- Planning the legal and financial aspects of such a partnership.
After reading this article you will be asked to record your learning points and some action points to earn a suggested 1 CPD credit. Below are some questions to reflect on as you work through the module:
- If your practice is not yet in an expense-sharing partnership, what would be the main reasons to found one?
- What are the main risks you would face from establishing a resource-sharing partnership?
- Were there any changes to the contract, such as QOF changes, or financial changes, such as changes to locum superannuation, that would benefit from local resource-sharing?
- If you were to found an expense-sharing agreement, what would be the best way for you to research potential partners?