Accounting for GP practices

We take care of the accounting, you take care of your patients

Any GP will know only too well the importance of business skills involved in running a successful practice. It’s not simply having the know how to feel confident when reading the accounts, but also understanding how those numbers can feed into strategic management decisions.

With an ageing population of existing GPs and low numbers of new entrants, having your accounts in order can play an important role in securing the team you want around you. Outsourcing your back office finance to our team of accountants won’t just remove the admin burden of year end, it will make sure your accounts are presented in a way that clearly demonstrates the health and opportunity of your business. With the ability to show the financial position of the practice as well as partners, you’ll be able to attract new talent more easily.

An effective approach to accounting also serves as a strong starting point for other opportunities to expand your practice. When you can see clearly what’s happening in the numbers, taking strategic decisions around issues such as whether to bid for additional contracts can be made with a lot more confidence – and a stronger negotiating position.

My Financepartner provides not just the outsourced accounting solutions to help reduce the time and administration burden involved in keeping on top of your finances, we also help you understand the opportunities available to the practice. Whether it’s planning for the year ahead, working out how much your individual partners can expect to draw or working out if additional staffing or services are financially justifiable, we can make sure the numbers and reporting clearly set out your financial position month to month.

And in an industry where data collection, analytics and benchmarking play a bigger role than ever before, our Financepartners are on hand to help you sort out the stories from the spreadsheets. From making the most of funding opportunities, negotiating better contracts or identifying efficiency improvements, we can help you translate the data into management decisions. If you’re interested in your benchmarking, we can see how effectively you are recording the work you carry out – and help you to identify if you’re receiving the funding you’re due. And thanks to being part of the PwC network, we’re also aware of new developments – so we can help you to make sure that you and your practice stay on the front foot.

Accounting for GP Practices Sector Image

Our scalable service is designed to be built around your needs – whatever your size of surgery or number of partners. We can work with your existing finance managers and back office team – or take on that role entirely if you don’t have anything in place. And if your needs change, our pay monthly package can easily scale to suit.

Why not find out how we can work with your practice or get in touch for a free no-obligation consultation?

Get in touch to find out more...

Email us at my.financepartner@uk.pwc.com

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