Five tips for controlling practice expenses

money

In the difficult business environment faced by today’s GPs it is vital to keep a firm grip on costs. These five tips will help you do so.

1 Analyse your staff requirements

A practice’s single biggest resource is its staff. Having great staff means a successful, quality practice but staff costs represent the largest single expense of any medical practice and need to be carefully controlled. 

There are statistics available that can help practices monitor this cost but the way a practice chooses to structure its staffing can cause significant variances from the average. For example, the averages set out in the table below assume that 23.7% of all full-time equivalent GPs are salaried. If you have more salaried GPs than this you will expect a higher than average staff cost, and if you have fewer then the converse will be true. 

For more, check out the full article here.

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