The contract, which includes a national practice baseline uplift of just 1.9% for England’s GP surgeries, is predicted to create a "non-viable" financial environment for many GP surgeries battling against rising inflation and could risk widespread practice closures throughout the country.
The association has plans to meet in June, where they will run focus groups with GPs and the public on the possibilities for industrial action, with plans to be announced in October.
Holly Gibson, a health sector financial and accounting specialist and Partner at accountancy firm Price Bailey, comments: It’s important to remember that GPs are businesses, and these businesses require financial sustainability to ensure the continued delivery of critical healthcare services throughout the country.
“NHS funding is facing the biggest real term cuts since the 1970‘s and medical practices are suffering. The announced contract changes, when adjusting figures to the rising rate of inflation, will place a great and increasing financial pressure on GPs.
Gibson continues: “In periods such as this, it is advisable to ensure the timely submission and payment of claims, implement budgets and explore cash flow management strategies. As the GMS contract funding is out of the practice’s control, it is even more important that internal processes are reviewed and costs are controlled.
"Financial professionals can provide support with budgeting, cash flow management tools such as cash flow forecasting and offer tailored advice during a difficult period, which looks likely to continue for some time ahead.”
According to the BMA website, Dr Katie Bramall-Stainer, chair of GPC England at the British Medical Association, said: “We are witnessing a ‘constructive dismissal’ of general practice across England where £1.4bn of Treasury funds for practice staff are forbidden to be spent on recruiting more GPs and practice nurses. This is despite almost 2,000 fewer GPs, more than 1,300 lost practices and six million more patients in the past decade. In fact, we now have hundreds of GPs unemployed – this is madness.
“The unanimity of the vote in our referendum demonstrates the depth of feeling among the profession. In 20 years, I’ve never known GPs to be so frustrated, angry, and upset. We are unable to offer our patients the care they want and need.”
Find more information on the GMS contract changes on the BMA website.
Find more information on financial support on the Price Bailey website, or contact Holly Gibson.
