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It’s all about profitability on this week’s podcast. In the second of our Practice Index panels, Practice Managers Robyn Clark and Nicola Davies return and are this time joined by financial expert James Gransby to talk through the current pressures on practice income, particularly during this period of uncertainty. However they have also shared with us their practical advice for managing finances at a local level; how to maximise income, how to avoid commonly made mistakes, where to access the most up to date toolkits and resources to support good financial management and why some practices may operate differently but can be equally profitable.
Introduction (0:43)
Is GP income down overall? (1:06)
How do some practices maintain profitability whilst others are experiencing a drop in their income? (2:43)
Maximising income (Nicola’s approach) (3:40)
Robyn outlines the factors influencing profitability at her practice (5:27)
The importance of claiming income and checking you have been paid (6:39)
Common mistakes that practices are making (7:02)
The disparity in claim eligibility and the benefit of experience (8:18)
PCSE portal (10:38)
Dealing with the fallout of PCSE issues (10:55)
What is the decision-making process when presented with the opportunity of a new enhanced service? (11:34)
Why could an enhanced service prove profitable for one practice and not for another? (12:44)
What opportunities might practices be missing out on? (14:24)
The reasons why practices operate differently but can be equally profitable (16:43)
Final pay controls, pensions, and tax implications (19:14)
Robyn, Nicola, and James’ closing words of wisdom (20:25)
This is the blog James mentioned
Information about Practice’s Index’s PPA Toolkit can be found here
Another resource which has been really popular from AISMA and PI is here
Contact details for the panel are as follows:
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