Can I run a private practice by myself?

Running Your Own Private Practice

If you're contemplating the transition from NHS to private practice, you might be considering whether to go it alone. Running your own private GP practice does mean you have complete control and flexibility. You decide how your practice is run, set up your own timetable and choose your place of work. But with great power comes great responsibility, and there are a few things worth considering before making the leap.

Benefits

Firstly, being your own boss can be incredibly rewarding. You'll have full creative and operational control, allowing you to tailor your practice to best meet the needs of your patients and your personal work style. You'll also enjoy flexibility in your working hours and location, which can lead to improved work-life balance.

Another significant upside is the ability to create a practice culture that reflects your personal values and medical philosophy without needing to agree on every detail with partners or senior colleagues.

Challenges

Running your own practice isn't without its challenges. You'll bear the sole responsibility for all aspects of the business, including the financial and administrative side, which might be daunting at first. The start-up costs for setting up a clinic can be significant, as you'll need to cover expenses such as equipment acquisition, premises hire, and regulatory compliance by yourself.

In addition, handling everything from patient consultations to payroll can limit the time you want to dedicate to your core passion—providing medical care. Ensuring you have robust systems and processes in place becomes paramount. Utilising systems like EMIS Web for clinical records and Hero Health for patient engagement can simplify much of the administrative burden.

"Running my own practice allowed me the space to develop a unique service offering that didn’t quite fit within the NHS framework."

Must-Knows

Before going it alone, it's advisable to consult specialists in tax, accounting, and legal matters specific to private healthcare. They can provide guidance on setting up your practice structure, whether as a sole trader, a limited company, or a partnership.

Moreover, attending networking events for private GPs and speaking with other practitioners who've made the transition can provide you with valuable insights and support as you embark on this new journey.

With determination and the right support, running your private GP practice by yourself can be both a challenging and fulfilling endeavour.