Practice finance

Download the Medeconomics Guide to Practice Accounts

Download the Medeconomics Guide to Practice Accounts

Medeconomics' popular Guide to Practice Accounts is now available for subscribers to download as a PDF. The guide will help you understand your annual accounts and how to use them as a business tool.

Essential financial advice

Financial planning for GP practices

Financial planning for GP practices

What should GP practices consider as they plan their finances for the coming five years? Accountant Katie Singer provides some advice.

A practical guide to budgeting

A practical guide to budgeting

Effective budgeting can help practices ensure they are a financial success. Laurence Slavin explains how to do this and provides a sample spreadsheet to help with calculations.

Benchmarking the practice's financial performance

Benchmarking the practice's financial performance

Find out how well your practice is doing by comparing key statistics from your annual accounts with those of other practices, says Laurence Slavin. This article has been updated with figures for 2015 and 2016.

Cash flow forecasting: a vital financial tool

Cash flow forecasting: a vital financial tool

In these times of financial uncertainty, the ability to assess the practice's business risks is essential, says Russell Finn.

How to ensure money you are owed comes in

How to ensure money you are owed comes in

Accountant Faye Armstrong provides advice on how to set up a credit control system to help you collect NHS funding and private fees.

Costing up a new service

Costing up a new service

How practices can work out whether it is worth taking on a new contract, including a downloadable spreadsheet to help with the calculations. By Laurence Slavin.

A guide to tax for practice managers

A guide to tax for practice managers

The taxes practice managers need to understand to help ensure the practice's finances stay on track. By Jenny Stone.

Seven steps to cutting practice expenses

Seven steps to cutting practice expenses

In this series, Nick Coleman explains simple steps GP practices can take to reduce their expenses and cut costs.

How to manage your staff budget

How to manage your staff budget

With salaries being the biggest expense in any practice, there is increased pressure to manage staff costs effectively. Fiona Dalziel provides advice on how to do this.

How to keep your bank happy

How to keep your bank happy

Accountant Paul Samrah has some tips on how practices can stay on top of their cash flow to ensure they have a good relationship with their bank.

Advice on re-mortgaging practice premises

Advice on re-mortgaging practice premises

Lawyer James Atkins explains how changes to the Premises Costs Directions could help GP practices who want to re-mortgage their properties - or change their mortgage to move to new premises.

Preventing fraud in general practice

Preventing fraud in general practice

Steps practices can take to protect themselves from fraud. By Fiona Dalziel.

Cloud accounting: How it could benefit your practice

Cloud accounting: How it could benefit your practice

The run-up to a new financial year is a good time for practices to review their accounting processes and consider a cloud-based approach, says Laurence Slavin.

Reducing the cost of attending medical meetings

Reducing the cost of attending medical meetings

Dr Jeremy Phipps provides top tips on reducing costs associated with attending medical meetings or events.

Topical issues

Indicative locum rate set at £80 an hour

NHS England has set an indicative rate for GP locum pay at £80 an hour and, in the coming weeks, practices will be asked to submit data on how many times they have paid above this rate.

Updates to private fees

Details of the latest updates to the Medeconomics GP Fees Database.

How to survive a PMS review

Accountant Laurence Slavin provides advice to PMS practices facing a reduction in funding in the wake of their PMS review.

Guide to practice mergers: The financial aspects of a merger

It is essential for practices to compare accounts and discuss financial issues early on in the merger process, explains Jenny Stone.

Guide to accounts

Ask the experts: Finance