Podcast – Practice Index – Financial pressures in General Practice

In this week's episode, brought to you in partnership with Practice Index, Kay Keane and Claire Houston join Ben for a candid discussion on the financial challenges practices are facing. At the heart of their discussion lies the tension between the escalating costs of running a practice, including the forthcoming minimum wage hike, and the proposed 1.9% budget increase. Kay, Claire and Ben reflect on the squeeze this puts on profits and how it's driving a potential shift in the structure of General Practice. They look into the hard choices that lie ahead, and consider the implications of relying on additional roles over traditional GP-led models. They discuss what practices can do in face of such a financially challenging environment, and offer practical tips for those who are struggling. Tune in to hear more about the creative strategies practices are employing to navigate funding challenges and how this might shape the future of General Practice. Introduction (00:09) Practice finances (00:50) Claire's thoughts.. (01:58)  The 1.9% offer (03:54) Claire & Kay's thoughts regarding the offer? (04:38)  How are Practices make ends meet? (07:13)  What kind of uplift in income is possible for Practices? (09:46)  PCN income.. (12:32)  The challenges.. (14:22) Working together.. (16:08)  Additional roles.. (16:51)  Making savings by increasing size.. (22:52)  Resources & information.. (25:08)  To visit the Practice Index website, click here or contact James Dillon here. For all enquiries about the Ockham podcast, please contact Ben Gowland here.