Many consultants think that having a private practice is in the insurance market, when really it isn’t, only around 65% of invoices raised by private practices were accounted for by private medical insurance. Self pay patients are accountable for around 25% of specialists’ incomes (however this can be higher and completely varies on your speciality, type and location) which is why prevention of private patients avoiding their medical bills is imperative to the management and financial condition of your private practice.
Is spending too much time and tax on your income giving you a headache? Before reaching for the paracetamol and doing another night shift of finance admin that drains your passion for medicine, we prescribe consulting our team of professional medical accountants who’ll save you time and sanity.
Many doctors in the UK don’t realise that tax relief can substantially increase the bottom line of their bank accounts, through tax deductions on expenses or items related to their practice.
Running a private medical practice can become an incredibly daunting task without the proper staff and equipment. When you thought about opening your own practice you knew there would be a lot to it.
The struggle is real. Trying to pay off medical student loans has practically become an epidemic. It is costing more than ever to become a doctor and salaries are going down.
Our brand new mobile app allows you to get your finances in order & track your accounts quickly and easily, on the go, right from your mobile phone.