The partnership is not dead Yet!
General Practice has an excellent track record when it comes to providing patient services but the traditional partnership model is facing significant challenges in delivering a service that meets the needs of patients and remains viable at the same time. As we come to the end of the current 5 year plan there is a lack of clarity from government about the future direction of General Practice which makes business planning difficult. As a consequence, whilst the GP partnership model is still the most favoured operating model across the country, workforce shortages, rising costs and funding issues all threaten the viability of the traditional partnership.
This session looks at some of the key issues underpinning the viability of partnerships and examines the key financial and organisational outcomes that GP partnerships must achieve in order to remain sustainable. Despite the challenges, many practices have delivered a consistently good financial performance over the past 5 years, whilst others have struggled and have been forced to close or merge. During this session we will examine some of the reasons for this varied financial performance using benchmarking data and unpick some of the key trends that emerge.
Managing tax and pensions is inextricably linked into practice finances and we will cover, on a high level, the current range of tax reliefs and allowances available to practices along with highlighting upcoming known tax changes affecting GP practices and their partners including top tips on how to manage the catch-up tax and superannuation liabilities which can cause difficulties if they are not identified at an early stage.
The partnership model is by no means dead and this session will pull together some of the key financial themes and demonstrate how good management, supported by knowledgeable business advisers, can help underpin the long term viability of GP partnerships. The size and shape of the partnership may change but it is still very much alive and kicking!
We will also be offering a limited number of free practice benchmarking sessions at the show – come and talk to us to find out more.
- The changing shape of GP Practices
- Key benchmarking data to help assess your practice performance
- Top tips on current partnership tax and superannuation issues
- Why partnerships are still the most favoured GP Practice model