AISMA in the news

AISMA members regularly write in the specialist GP and practice management publications, offering expert advice to doctors on the key issues of the day.

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Seven habits of high earning practices

March 15, 2013

AISMA accountant Sue Beaton looks at what steps GPs can take to maximise profitability

With so many GPs feeling the strain, there has never been a better time to ask whether your practice is operating as best as it can. In theory all GPs have the potential to earn well, but inevitably there are occasions when, for example, personality clashes among partners will sometimes lead to fall-outs that dent financial performance. There will be practices too where there simply isn’t as much profit to be made, perhaps because of local budget constraints, patient demographics or high staff costs due to geographical location. Read more

Pulse Analysis: This offer is not even close to the rise in the cost of living

March 14, 2013

Accountant Bob Senior examines what the impact of the Government’s funding increase of 1.32% will be on practices.

There’s an element of the Government being disingenuous. The 3.4% increase recommended by the DDRB was for a whole raft of things – like organising the practice for commissioning – but the Government have chosen to interpret that report very selectively. Read more

GPs warned to prepare for 4% pay cut

March 14, 2013

Accountants are predicting a reduction in GP drawings of up to 4% next year, warning that the Government’s 1.32% practice funding uplift will fail to cover rising practice expenses – and accusing ministers of ignoring key evidence when making the award. Read more

Practice Management: Internal financial controls

March 1, 2013

Internal financial controls are systematic measures (such as reviews, checks and balances, methods and procedures) necessary to:

  1. Conduct business in an orderly and efficient manner
  2. Safeguard assets and resources
  3. Deter and detect errors, fraud and theft
  4. Ensure accuracy and completeness of accounting data
  5. Produce reliable and timely financial and management information
  6. Ensure adherence to policies and plans

Pauline Hogg explains more about key areas to monitor in a GP practice

Pulse Finance Diary: March 2013

March 1, 2013

It is vital practices pull together and partners delegate effectively. Bob Senior advises on the warning signs of problems in store

Tough times lie ahead and teamwork will be essential if practices are to ride out the storm. Dysfunctional practices, where GPs fail to delegate effectively or where partners fall out, will only make a bad situation worse. Read more

Ten top tips for costing a new employee

February 25, 2013

AISMA accountant Liz Densley assesses the true costs of employing a new member of staff

Clients often ask us how much it will cost to take on a member of staff. The simple answer is gross salary plus employer national insurance and pension contributions. However, calculating the real costs, actual and hidden, is a more complex matter. Read more

Pulse Q&A: Business planning

February 19, 2013

AISMA accountant Anthony Brand explains what business planning consists of, how to get consensus, running a SWOT analysis and pitfalls in strategic planning. Read more

Practice Management: Engaging a locum

February 1, 2013

Should locums be hired as employees or should they be self-employed? Unfortunately there is no black and white answer since each case will depend on its own facts. Luke Bennett considers the tax and superannuation issues. Read more

Pulse Finance Diary: February 2013

February 1, 2013

Raising finance to pay off a retiring partner for their stake in the practice is increasingly tricky. Accountant Bob Senior advises on the options. Read more

Eight taxes on GP premises

January 14, 2013

Accountant Luke Bennett runs through eight premises taxes that could impact on practice income and partner drawings

Whether a GP owns or rents premises, every partner should be familiar with the following eight taxes or costs arisng from a practice premises. Read more

Case Studies

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