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Practical Tips to help manage your practice

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?. It’s a BUSINESS !!!!!! STUPID !!!!!. Ask your accountant/bank manager. General Practice – What is it?.

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Practical Tips to help manage your practice

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  1. Practical Tips to help manage your practice Shay Conroy, Practice Manager Dolmen Family Medical Practice, Carlow shayconroy1@eircom.net 086 8236040

  2. General Practice – What is it? It’s a BUSINESS !!!!!! STUPID !!!!! Ask your accountant/bank manager

  3. General Practice – What is it? • Ask a doctor It’s a VOCATION !!!!!! You would never understand

  4. General Practice – What is it? It’s a mix of both and it depends on the style of your GP partners

  5. General Practice – What is it? Ryanair Annual Accounts 2013

  6. 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?

  7. 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

  8. 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

  9. REMEMBER It is very easy to be busy

  10. General Practice – What is it?

  11. Key Costs • Wages – GP/Locum/Nurse/Admin • Rent/Rates/Building • Medical Insurance/Subs/Membership • Light/heat/Phones/Postage • Computers

  12. 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

  13. Key Costs • Savings V Effort • €500 saving on ESB bill in a year is one extra private patient per month.

  14. Key Income Parameters - STATE PAYMENTS • GMS • Social Welfare Certs • Maternity • Vaccinations • Garda

  15. GMS

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

  17. 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.)

  18. Other State Payments • Maternity – Tracking/Number of visits/Misc Extra Visits/Payments • Vaccinations – Track Payments • BONUS PAYMENT • Social welfare certs – Books < 40

  19. Other External Income • Private health Insurance • Insurance/Legal • Occupational health MAKE SURE YOU GET PAID It is very easy to be busy

  20. 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

  21. 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

  22. Private Income • Charge for services not covered by GMS • Pro Bono Work

  23. 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.

  24. REMEMBER It is very easy to be busy

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