Is Outsourcing Practice Manager’s Support Services Right for Your Business?
The role of practice managers in GP surgeries has become increasingly challenging in today’s volatile NHS environment. GP practices are facing numerous financial hurdles, making it crucial to maintain a tight grip on finances and internal operations for smooth business functioning. In this context, the practice manager’s role is more vital than ever for GP surgeries.
At Ballards LLP, we have assembled a specialist team with extensive knowledge and understanding of GP finances. We recognise the challenges faced by GP practices and believe that outsourcing Practice Manager’s support services can free up valuable time and resources. This allows you to focus on core business activities that drive growth and profitability. Our goal is to enable Practice Managers to concentrate on their strengths while we provide support for other aspects, effectively giving time back to the practice manager.
Let’s explore some key benefits of outsourcing Practice Manager support services:
Increased Efficiency & Expertise: Ballards LLP’s team of experienced bookkeepers possesses the skills and knowledge to handle all your bookkeeping tasks efficiently and accurately. We stay up-to-date on the latest accounting regulations and best practices, ensuring your books are compliant and optimised.
Improved Cash Flow Management: Accurate and timely bookkeeping provides a clear picture of your financial health. Outsourcing ensures your books are reconciled regularly, giving you valuable insights into your cash flow and enabling you to make informed financial decisions through timely reports of your current financial data.
Timely Follow-ups and Actions: Many GP practices face issues with pensions and dealing with the PCSE due to the time required to resolve problems. It’s crucial to follow up with the PCSE to correct pension records for GPs, ensuring timely collection and correct processing. Our expert team is here to carry out this work on your behalf, easing the pressure on practice managers.
Reduced Costs: Hiring full-time staff can be expensive, including salary, benefits, and software costs. Outsourcing Practice Manager’s support services offers a cost-effective solution, as you only pay for the services you need.
Focus on Your Core Business: Freeing up Practice Managers from the burden of financial tasks allows them to dedicate their time and energy to the day-to-day running of your business. This could involve dealing with staffing issues, maximizing staff efficiencies, handling patients’ expectations, or shopping for the best deals on drug purchases, energy providers, or insurance. It also enables a focus on implementing good controls to ensure claims are not missed. Outsourcing allows you to concentrate on what matters most to your practice.
Disclaimer: This insight does not constitute financial or legal advice. All businesses have different considerations, and they should contact a professional before acting upon any of the information contained in this insight.
