Emma speaks to GP Dr Tommy Perkins and accountant Andy Pow from Medics Money about the year ahead for general practice finance and how practices can ensure their business is in good shape.
Medics Money has a website, podcast and a number of courses that provide doctors with education and support on all things to do with money, including personal finance and practice finance.
Tommy is a GP partner who set up Medics Money with fellow GP Dr Ed Cantelo and Andy is a specialist medical accountant and has spent many years working with GP practices, supporting them with their accounts and their finances and now also works with Medics Money.
In this conversation Andy and Tommy talk about the financial pressures practices will face this year including the rise in the national minimum wage rise and employers’ national insurance contributions, as well as the importance of making sure local enhanced services are profitable for practices.
They also talk about how the GP contract needs to change going forwards to ensure practices are more sustainable, problems with GP premises, offer some advice for GPs on their NHS pension, including for those affected by the McCloud remedy, and provide some general advice on finances in the year ahead.
This episode was presented by GPonline editor Emma Bower. It was produced by Czarina Deen.
Useful links
What does the McCloud judgment mean for my NHS pension from Medics Money
McCloud RPSS explained for doctors - remedial pension statement explainer on YouTube
Medics Money financial education for partners course
Medics Money financial education for non partners
From GPonline
Government unveils £889m GP funding boost for 2025/26
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