"Partners want to focus on patients, not spreadsheets, yet the financial environment has become more complex each year."
"Rising staffing costs, pension and national insurance contributions, estates pressures, inflation, and increased administrative demands all contribute to this squeeze. The system expects GPs to deliver clinical excellence while simultaneously running what are, in practice, small businesses, often without dedicated financial training."
"Practices are increasingly reporting that significant top-slicing occurs before funds reach them. By the time money moves through ICBs, PCNs, Federations and administrative layers, the amount that arrives at the practice can be materially reduced. This directly restricts what practices can reinvest into patient care."
GP practices continue to deliver high-quality clinical care but increasingly operate with very limited financial headroom. Many practices work within much tighter margins as rising staffing costs, pension and national insurance contributions, estates pressures, inflation, and increased administrative demands squeeze budgets. Partners often lack dedicated financial training and have limited time to understand accounts, funding flows and long-term planning. Nearly 1,000 practices have closed or merged since 2018 while the registered patient population has grown by 4.8 million. Funding routed through Integrated Care Boards, Primary Care Networks and Federations is often top-sliced, delayed and opaque, materially reducing resources available to practices.
Read at London Business News | Londonlovesbusiness.com
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