Why should GP practices review their systems?
Monday, 12 October 2020
While the focus of a GP’s time is on their patients, how can GP practices improve their systems to increase profitability? Here are a few points to consider:
Who checks the monthly Exeter statements/other remittances to make sure the amounts are correct and complete? If your practice manager is doing this, do they have the time they need to devote to this role?
Is there a clear system in place for making income claims? I’ve known practices that have carried out work but, because they didn’t tick the right boxes on the paperwork, they had a long battle to receive payment.
When GPs join or leave a practice, is their record updated? Is someone checking that superannuation contributions are timely and correct? This will make sure the GP receives tax relief on those contributions as soon as possible.
Are you keeping separate records for reimbursable drugs costs so you can easily check profits and ensure claims are dispatched correctly?
Who maintains the payroll? Have employees been set up under ‘departments’ based on their role (or location) to monitor shifts in staff costs more easily?
If a task is taking up too much of your time, your GP practice may benefit from our Digital Review.
As part of the Digital Review we’d discuss:
Managing your software subscription. We can offer you the Receipt Bank software free of charge with Xero and QuickBooks. No more manual entry!
Utilising the GP+ app which links up with the Open Exeter system to import the monthly statements into your underlying software, reducing the risk of errors caused by manual entry.
Is your book-keeper manually analysing bank transactions each month? We can help set up a bank feed or assist with importing those in.
How do you maintain your Limited company accounts, personal expenses and locum costs? There are various software programmes you could use, such as Locum Organiser, which your accountant can access.
If you’d like any further information, please speak with a member of our Medical team. You can find contact details on the Our People section of the Larking Gowen website.
Alternatively, call 0330 024 0888 or email email@example.com