What is clear is that their importance is now even greater, because the profitability of any practice depends more than ever before on the skills and ability of the practice manager and their team. Practice managers were important 10 years ago when most practices were profitable. On the podcast, the panel talk about some of the different practical things they do to ensure their practices remain profitable.īut for me, the most interesting lesson to come out of the panel discussion was that it isn’t enough to maximise income, or to ensure that the costs of delivery are below the income that’s earned the number-one tip from the panel is to ensure that payments are tracked, because practices aren’t always paid what they should be – and unless a practice stays on top of this, they can incur significant losses. This might sound obvious, but there are too many practices saying yes to every new service that comes along, without working out whether the practice can actually deliver it without making a loss.Īctive cost monitoring and reduction is a key part of the practice manager’s role. If a practice delivers a service where the costs exceed the income, profitability is going to go down. The other side of the coin, as all practice managers know, is cost. maximising income) without thinking about profitability. Practices need to work harder to find them, and they need to work harder to ensure they contribute to the overall profitability of the practice.Ī common mistake is for practices to focus on increasing their overall revenue (i.e. The problem is that these opportunities are much more difficult to access than they were 10 years ago. Do listen to the podcast episode to find out more. On the income side, the panel explained that despite some of the changes to the core contract, there are actually many opportunities for practices to maintain their income at present. What came out of the discussion was fascinating! We were joined this time by James Gransby, a finance expert from RSM and vice chair of AISMA. It was these internal factors that I discussed recently in the second meeting of the Practice Index Practice Manager Panel. those that are within the control of practices, that are having an impact too. There are external factors, such as estates and recruitment, that have significantly impacted the profitability of some practices more than others. The answer to this isn’t straightforward. So why is there such a huge discrepancy between the experiences of practices, all of which are on a national contract? By the same token, there are others where the partners’ drawings have been reduced by far more than 10%. I know of practices, and I’m sure you do too, that are just as (if not more) profitable today as they were 10 years ago. But as is always the case with statistics, averages never tell the whole story. Mr Jackson says he also wants to congratulate those Maori in the honours list who are being honoured for their contributions in the arts, health, governance, science and education.There was a headline in the GP press recently that stated that, in real terms, GP partners’ income in 2018/19 was 10% below the figure recorded a decade earlier in 2008/9 (according to “official” data for England). The episode was not found or is unavailable. He was one of the original drafters of parts of the Resource Management Act, and in recent years has come up with the most successful treatment of kauri dieback to date. 10 March 2023 Talking General Practice speaks to Ben Gowland, whose company Ockham Healthcare works with PCNs across England, about what the future could hold for networks. Maori Development Minister Willie Jackson says Mr Prime has made a significant contribution to both Māoridom and the environment. He’s also a life patron to the Ngāti Hine Health Trust, vice chair of Ngā Whenua Rāhui, kaumatua and former chair of Foundation North, ad a member of board of the Bio Heritage National Science Challenge. Mr Prime’s hopes of taking things easier after long service as a commissioner on the Environment Court were dashed when he was appointed to the Waitangi Tribunal in 2021. He’s been made a Companion of the New Zealand Order of Merit in the King’s Birthday Honour’s List. Ngapuhi and Ngati Hine kaumatua Kevin Prime has been acknowledged for more than 50 years of service to Māori and the environment.
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