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Almost nine in 10 GPs are concerned about their practice finances

Hardly any GPs or practice managers are confident about the financial future of their GP practice.

The Healthcare Financial Management Association (HFMA) and Future Focused Finance (FFF) surveyed 365 GPs and staff in business or practice management roles.

It found that 87% of respondents were ‘not confident’ or had ‘some concern’ about the financial outlook for their practice in two to three years’ time, while fewer than 2% were ‘highly confident’ for the financial outlook of their practice.

When asked what caused the financial pressures, GPs and practice managers put this down to struggles with ‘meeting existing growing demand within current core funding’ (94%), ‘growth in obligatory costs’ (92%) and ‘capacity required to provide additional activity’ (90%).

In order to improve the situation, most favoured bettwen understanding of general practice and better working relationships with CCGs.

The report warns that the Government’s ‘priority given to transferring work from secondary to primary care settings’ and ‘introducing new models of care’ is ‘adding additional risk to an already stretched general practice’.

The document said: ‘There are urgent issues that need to be addressed and these will only be exacerbated should the pace of change continue to outstrip the sector’s preparedness.

‘Reducing the administrative burden, improving relationships and partnership working (with commissioners and providers), and providing the right professional support and guidance to inform decision-making are key factors to be addressed as the NHS moves ahead with the GP Forward View.’