General practice finance in the year ahead

01/03/25 • 41 min

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

Is £889m the lifeline practices need to keep them afloat?

Hosted on Acast. See acast.com/privacy for more information.

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.

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

Is £889m the lifeline practices need to keep them afloat?

Hosted on Acast. See acast.com/privacy for more information.

Previous Episode

How the NHS can get the best from social prescribing

This week Emma speaks to chief executive of the National Academy for Social Prescribing Charlotte Osborn Forde and Dr Radha Modgil, a GP and TV and radio broadcaster, who is also an ambassador for the National Academy for Social Prescribing.

In this conversation Charlotte and Radha explain some of the evidence to support the use of social prescribing, what works in projects on the ground and the important role GPs have to play within social prescribing.

They also discuss some of the challenges facing social prescribing, what practices and PCNs can do to ensure their social prescribing initiatives are a success and how they would like to see social prescribing develop in the coming years as part of the government’s 10-year plan for the NHS.

This episode was presented by GPonline editor Emma Bower. It was produced by Czarina Deen.

Useful links

From GPonline - The evidence to support the use of social prescribing

From GPonline - The benefits of green prescribing in the NHS

NASP report - The impact of social prescribing on health service use and costs

NASP report - Building the economic case for social prescribing

Preventing and Tackling Mental Ill Health through Green Social Prescribing Project - government evaluation

Hosted on Acast. See acast.com/privacy for more information.

Next Episode

Will £889m save general practice - and how plans to cut NHS waits affect GPs

Just before Christmas the government announced an £889m funding uplift for the GP contract in 2025/26 - Nick and Emma discuss whether that funding is enough to stabilise practices and what the government will be asking for in the next contract.

They also talk about the government and NHS England’s elective reform plan, which was unveiled this week and sets out steps to hit the 18-week referral to treatment target by the end of this parliament. The plan includes a number of measures involving GPs and primary care, so what does it all mean for general practice?

Our good news story this week highlights those GPs recognised in the new year honours.

This episode was presented by GPonline editor Emma Bower and deputy editor Nick Bostock. It was produced by Czarina Deen.

Useful links

What do we know about the 2025/26 GP contract?

Is £889m the lifeline practices need to keep them afloat?

Two-tier' job risk as practice nurses join ARRS

GPs to be paid £20 per request in £80m advice and guidance plan

Understaffed GP practices 'not ready' to take on more work from hospitals

GPs recognised in 2025 New Year Honours

Hosted on Acast. See acast.com/privacy for more information.