Can I run a private practice by myself?

What to consider

One of the first decisions you will need to make when setting up your private general practice is if you are going to run it by yourself or work with partners or as part of a larger organisation. There are pros and cons of running a private practice by yourself:

Ways that private GPs can work

There are a few different ways in which you can practice as a private GP. Each should be fully researched and understood so you can make the most appropriate choice for you and how you want to work.

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Sole trader

Private GPs can run their own practice where they are a sole trader or a single-handed GP. This is where there are no other partners involved in the practice and you will have full control over how, where and when you work.

You may need to seek specialist advice when setting up your own practice in areas such as tax, accounting and IT and you will be solely responsible for bookkeeping and the running of the practice (premises, staff, inspections and patients).

There may also be more upfront costs involved with this approach.

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Employed private GP

Another option is to become a salaried GP where you won’t have control over how the practice is run and will be bound to a contractual agreement with your employer, however you will have a guaranteed income, receive employee benefits and can focus more on the patients rather than running the practice.

Limited liability partnership

Some private GPs decide to work under a limited liability partnership (LLP) where you have support from other partners and make decisions together.

Working as a sole trader may feel isolating so this is a good option to have support from others and means the practice can run while you aren't working. There are also benefits in terms of finances invested.

This will require specialist advice to set up and you will need to be confident in your choice of business partner.