Practical Tips to help manage your practice

Shay Conroy, Practice Manager

Dolmen Family Medical Practice, Carlow

shayconroy1@eircom.net

086 8236040

General Practice – What is it?

▪ Ask your accountant/bank manager

It’s a BUSINESS !!!!!!

STUPID !!!!!

General Practice – What is it?

▪ Ask a doctor

It’s a VOCATION !!!!!!

You would never understand

General Practice – What is it?

▪ It’s a mix of both and it depends on the style of your GP partners

General Practice – What is it?

Ryanair Annual Accounts 2013

General Practice – What is it?

▪ RYANAIR▪ Number of planes in the air

▪ % of seats filled (CAPACITY)

▪ Price per seat €

▪ Turnaround time

▪ Fuel cost per passenger

▪ Labour cost per passenger

▪ GP PRACTICE▪ Number of GPs per session

▪ Number of patients seen per day

▪ Average consultation fee

▪ Turnaround time

▪ Overhead cost per patient

▪ Labour cost per patient

General Practice – What is it?

▪ General Practice is a simple business

* Few main income streams.* Small number of important costs

▪ It is important that we know the key parameters of

INCOME AND EXPENDITURE

General Practice – What is it?

▪ Information is the key. You cannot make decisions without them.

▪2013 Accounts returns from your accountant in April 2014 are only useful for tax management.

▪They are useless in terms of running the business.

▪Detailed weekly/monthly info is essential

REMEMBER

It is very easy to be busy

General Practice – What is it?

How many GPs are in your practice?

How many GMS patients are on your list?

How many real Private patients have you got?

How many admin staff have you got? (Full time equivalent)

How many patients does each doctor see every day?

Do you get your Vaccine Bonus every year?

How many private patients under 6 are in your practice?

What % of your patients every day are private?

How many Ante Natal Patients had you in 2013?

How many Cervical Smears did your practice do in 2013?

Do you get your Vaccine Bonus every year?

Are you claiming at maximum for practice support subsidy?

How much is your monthly phone bill?

How much is your practice owed for January and February by patients?

Key Costs

▪Wages – GP/Locum/Nurse/Admin

▪Rent/Rates/Building

▪Medical Insurance/Subs/Membership

▪Light/heat/Phones/Postage

▪Computers

Key Costs

▪Costs are basically fixed costs. They are they regardless of the amount of the business you do.

▪Spread your costs

▪Examine costs for savings- Phone, Electricity, Computers

Key Costs

▪Savings V Effort

▪€500 saving on ESB bill in a year is one extra private patient per month.

Key Income Parameters - STATE PAYMENTS

▪GMS

▪Social Welfare Certs

▪Maternity

▪Vaccinations

▪Garda

GMS

GMS

▪Know your panel – Keep it right.▪Practice Support Subsidy / Maximise▪Holiday/Study Leave▪STC▪Nursing Homes▪Flu Vaccine▪Smears

GMS

▪ Comparisons with last month/year▪ Trends▪ Maximise▪ Average income/patient▪ Information▪ Use SOCRATES PCRS Importer to manage your medical card simply and quickly. (See www.practicemanager.ie for instructions how to use this invaluable software tool.)

Other State Payments

▪Maternity – Tracking/Number of visits/Misc Extra Visits/Payments

▪Vaccinations – Track Payments

▪ BONUS PAYMENT▪Social welfare certs – Books < 40

Other External Income

▪ Private health Insurance

▪ Insurance/Legal

▪ Occupational health

MAKE SURE YOU GET PAID

It is very easy to be busy

Private Income

▪Numbers Seen

▪Get Paid for who you see

▪Have a price list and stick to it. That means every GP !!!

▪Charge for services, Ante Natal/Smears.

▪Debtors. 1% Rule

Private Income

▪Laser Machine

▪Who collects money, Invoice/Receipt

▪Everybody in practice much realise the importance of being paid for what work is done.

▪Easy Pay systems

▪Pay in advance

Private Income

▪Charge for services not covered by GMS

▪Pro Bono Work

Generate Income

▪Develop Services that pay.▪Drop services that don’t. Nursing Home????

▪Recall for Vaccines, Smears, Travel Vaccines, Flu shots.

▪Use SMS.▪Put a value on everybody’s time.▪Ensure you maintain GMS patients.

REMEMBER

It is very easy to be busy