Albert Goodman saves medical practices £260,000
Specialist accountancy firm, Albert Goodman, has assisted GP surgeries across Somerset, Dorset and the South of England in claiming outstanding payments from the Personally Administered Items allowance. In total, surgeries in the area were owed £260,000, with one surgery having an underclaim of £60,000, which did not include the income that was likely to be missed in the most recent financial year.
All practices are entitled to claim the NHS Personally Administered Items allowance for items listed by the NHS as ‘personally administered’, these include things like vaccines, anaesthetics and sutures. The underclaims were highlighted by Keith Miller, specialist Medical Practice Accountant at Albert Goodman.
Keith comments, “The finances of GP practices are tight enough and with the current economic climate, every penny needs to be accounted for. In these cases, the need to claim back the cost of the drug and the cost of administering had been overlooked. I am delighted to have been able to identify these significant oversights for medical practices, and to ensure the funds are claimed by those who undertook the work. It is my estimation that the sums recovered could be a much higher figure in practices who have processes which are anything less than watertight.”
The outstanding payments highlight the importance of using specialist accountants, who are focused on the latest financial trends in complicated areas of finance. Tracey Hole of Ash Lane Consulting, who specialises in increasing profitability for GP surgeries, commented to Keith, “All in all I would think you are responsible for increasing practice profits in the CCG area concerned by £260k!”
As a member of the Association of Independent Specialist Medical Accountants, Albert Goodman provides expert advice to medical practices, sessional GPs and hospital doctors. If your practice would like to talk to Keith to see if they may have missed out on Personally Administered Items claims or would like to know more about the dedicated specialist Medical Accountant services at Albert Goodman, please contact Keith Miller directly at: email@example.com/01935 423667.
With offices across the region, including Taunton, Chard, Yeovil, Burnham-on-Sea, Bridgwater, Weston-super-Mare, Weymouth and Wedmore, Albert Goodman prides itself in providing high quality accountancy, tax and financial planning advice to private individuals and small to medium sized enterprises, offering a comprehensive service to local and national clients.