Talking General Practice Understanding the financial pressures facing general practice
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Jul 4, 2025 In this lively discussion, Lizzy Lloyd, Chair of AISMA and partner at Larking Gowen, dives into the pressing financial challenges facing general practices today. She tackles cash flow issues, the complexities of GP contracts, and the impact of NHS pensions. Lizzy shares invaluable budgeting tips and innovative strategies for maximizing income streams. With insights on navigating funding hurdles and succession planning, this conversation is packed with practical advice for GP practices aiming for financial stability.
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Cash Flow Challenges in GP Practices
- Cash flow timing is a major challenge for GP practices due to delayed payments through primary care networks.
- Reduced partners in a practice increase the burden and financial strain on remaining members.
Outdated GP Funding Formula
- The current Carhill funding formula is outdated and fails to address modern demographic needs.
- Overhauling the formula needs funding increases rather than mere redistribution to avoid winners and losers.
Employ Specialists for Financial Management
- Use accountants who understand the NHS GP contract, pensions, and tax to proactively manage finances.
- Proper categorization of income and expenses enables informed forward planning and budgeting for practices.