Ensure your practice is in the best position to take advantage of the big release from lockdown. Simon Brignall has some useful advice to keep the cash flowing.
The impact of Covid-19 is causing everyone in business to review how they operate from both a financial and staffing perspective – and private practice is no different.
Most consultants have either been seconded to the NHS full-time to support the efforts on the front line or have adapted and changed their current practice to work remotely with patients.
The remaining specialists have had to close their private practice, as there is nowhere to practise and no patients to treat. But, unfortunately, the bills have not disappeared and this has left a whole host of financial problems for them to deal with.
I have received numerous calls from practice managers and consultants who are naturally worried about the impact of the crisis on the practice and how to deal with those issues in the weeks and months ahead.
The two main topics that keep surfacing for every practice are around staffing the practice and cash flow problems due to large amounts of outstanding debt.
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