Help when you become a GP Partner
It’s vital to make the right choices
The financial implications of becoming a partner in a GP practice are extensive and complex.
You would not accept a job without having full details of the terms and conditions and you should not become a GP partner without having a full understanding of the financial implications.
You need to know what you are getting into
It is particularly important that you have a good appreciation of the financial situation of your new practice. It sounds like the last thing you want to do when you are excited about a new opportunity, but this is when you need sensible expert advice.
What should you know?
- Is the practice well-managed financially?
- What is your forecast profit share?
- What are your forecast drawings?
- How does the practice deal with the partners income tax?
- Has anything affected the partnership profitability since the last set of accounts were prepared?
How can we help?
We can review the accounts of your prospective GP practice and let you know how financially stable and attractive the partnership is. We will do this based upon our expert understanding of the GP sector.
We will benchmark the partnership against local practices and against national statistics.
We will also review the financial aspects of the partnership agreement.
Because we carry out this type of review frequently for our clients we know what to look for and we can keep the costs down. We offer a simple fixed fee to complete this work which is always agreed with you advance.
