Strategies to help you minimise the risk to your practice

What Should Private Surgeons Do?

 

REVIEW FINANCIAL PLANS

 

  1. Assess Current Income & Expenses
  • Break down your revenue sources (private consultations, procedures, NHS work). Identify areas of growth or decline.
  • Review expenses including staff salaries, rental costs, medical supplies, and tax obligations. Understanding your outgoings helps pinpoint where adjustments might be needed.
  1. Optimize Tax Efficiency
  • Speak with a specialist accountant to explore tax-deductible expenses (e.g., medical equipment, professional training, private practice costs).
  • If owning a private practice building, check if restructuring ownership (e.g., moving it into a pension fund) could reduce taxable liability.
  • Explore business reliefs if considering succession planning, to minimize inheritance tax burdens.
  1. Adapt to Market & Legal Changes
  • With NHS pay rises, fewer consultants may move to private practice, possibly increasing demand for private surgery. Adjust pricing or marketing accordingly.
  • If fewer GP referrals come through, build stronger direct patient engagement strategies (e.g., offering second opinions or specialized treatments not widely available in NHS).
  1. Improve Financial Record-Keeping
  • Switch to digital accounting software (like Xero or QuickBooks) to comply with Making Tax Digital rules for income above £50,000.
  • Set up automated reports to track cash flow trends and ensure tax compliance without last-minute surprises.
  1. Diversify Income Streams
  • Consider offering non-surgical consultations, expert witness services, or medico-legal reporting to add revenue sources.
  • Explore telemedicine options to reach a wider patient base without needing additional physical clinic hours.
  1. Plan for Retirement & Succession
  • With inheritance tax rules changing, look into trusts or tax-efficient pension contributions to safeguard long-term financial security.
  • If planning to pass on your practice, explore structured buyouts or investment partnerships to maximize value.
  1. Regularly Review Financial Strategy
  • Schedule bi-annual financial reviews with a tax adviser to stay on top of evolving tax laws and medical market changes.
  • Keep an eye on government healthcare investment trends that may affect private practice referral rates and pricing.

By taking proactive financial steps, surgeons can protect their income, reduce tax burdens, and future-proof their private practice.

 

STRENGTHEN RELATIONSHIPS WITH GPS to maintain referral rates.

Strengthening relationships with GPs is crucial for private surgeons to maintain a steady flow of referrals and build trust within the medical community. Here are some effective ways to connect and collaborate with GPs:

  1. Open Communication & Accessibility
  • Make it easy for GPs to refer patients by providing clear referral guidelines, direct contact options, and quick response times.
  • Offer a dedicated email or phone line specifically for GP inquiries to streamline communication.
  1. Host Educational Events & CPD Training
  • Organize CPD-accredited workshops where GPs can learn about surgical advancements, treatment protocols, and patient management options.
  • Invite local GPs to seminars or case discussions to foster collaboration and professional development.
  1. Provide Quick & Clear Referral Feedback
  • Send follow-up reports to referring GPs after seeing a patient, so they stay informed about treatment plans and progress.
  • Where possible, offer direct access to patient updates through shared digital portals to improve coordination.
  1. Offer Collaborative Patient Care
  • Work closely with GPs on patient management strategies, ensuring seamless transitions between primary care and specialist treatment.
  • Be available for pre-referral consultations, helping GPs assess when surgery is the best course of action.
  1. Engage in Local GP Networks
  • Attend local medical conferences and networking events to build face-to-face connections.
  • Join regional health forums or multidisciplinary meetings to stay engaged with the primary care community.
  1. Develop Trust Through Transparency
  • Share case studies and success stories with GPs to demonstrate expertise and reliability.
  • Maintain ethical referral practices, ensuring patients are guided towards the best treatment options rather than unnecessary procedures.
  1. Utilize Digital Channels & Resources
  • Create an informative website or regular newsletters that GPs can access for updates on procedures, success rates, and availability.
  • Consider launching a digital referral system to simplify the process and improve efficiency.

By consistently engaging with GPs, private surgeons can build lasting relationships that foster trust, efficiency, and increased patient referrals.

 

LEVERAGE TECHNOLOGY to provide competitive online consultation services.

 

Surgeons in the UK can leverage technology to enhance their online consultation services, making them more accessible, efficient, and competitive. Here’s how:

  1. Video Consultation Platforms
  • Using secure video platforms like Attend Anywhere or AccuRx allows surgeons to conduct virtual assessments, reducing unnecessary in-person visits.
  • Patients benefit from faster access, while surgeons can optimize scheduling and reduce clinic overheads.
  1. AI-Powered Symptom Checkers
  • Integrating AI-driven triage tools helps patients assess symptoms before booking consultations, ensuring efficient appointment allocation.
  • This reduces administrative workload and ensures surgeons focus on high-priority cases.
  1. Digital Patient Portals
  • Offering secure online portals where patients can upload medical history, receive test results, and book follow-ups streamlines communication.
  • NHS-backed platforms like Patient Access and private systems like Doctify improve patient engagement.
  1. Remote Monitoring & Wearable Tech
  • Surgeons can use wearable health devices (e.g., heart rate monitors, post-op recovery trackers) to remotely monitor patients after surgery.
  • This reduces hospital visits while ensuring continuous care.
  1. Online Prescription & Referral Systems
  • Digital prescription services allow surgeons to issue medications remotely, improving convenience for patients.
  • E-referrals ensure seamless coordination between specialists and GPs, reducing delays in treatment.
  1. AI-Assisted Diagnostics & Imaging
  • AI-powered imaging tools help surgeons analyze scans remotely, speeding up diagnosis and treatment planning.
  • This is particularly useful for orthopaedic and oncology specialists dealing with complex cases.
  1. Social Media & Digital Marketing
  • Surgeons can use LinkedIn, Twitter, and Instagram to share expertise, attract patients, and build credibility.
  • SEO-optimized websites with educational content improve visibility and patient trust.
  1. Compliance with NHS Digital Guidelines
  • Ensuring all digital services comply with NHS England’s remote consultation standards guarantees data security and patient confidentiality.

9. Explore automation using accounting platforms like Xero/Quickbooks/Sage 

  • Many accountants will now offer a service that will enable you to automate reconciliation for online accounting platforms and deliver efficiencies saving staff time.
  • Automation and using basic API’s could also deliver greater administrative efficiency depending on the software you use in your practice.

By embracing digital transformation, UK surgeons can enhance patient care, streamline operations, and remain competitive in an evolving healthcare landscape.

 

PLAN SUCCESSION STRATEGIES to minimize tax impact on business transfers.

Succession planning is crucial for private surgeons who want to transfer their practice while minimizing tax liabilities. Here’s how to structure a tax-efficient transition:

  1. Utilize Business Property Relief (BPR)
  • BPR allows up to 100% relief on inheritance tax (IHT) for qualifying business assets, but new rules from April 2026 cap full relief at £1 million.
  • If your practice is worth more, you may need to restructure ownership or explore trusts to reduce tax exposure.
  1. Consider Trusts for Asset Protection
  • Setting up a family trust can help shield assets from excessive inheritance tax.
  • Trusts allow you to gradually transfer ownership while maintaining control over the practice.
  1. Plan for Capital Gains Tax (CGT)
  • Selling your practice may trigger CGT, especially if property or equipment is involved.
  • Using Entrepreneurs’ Relief (now called Business Asset Disposal Relief) can reduce CGT to 10% on qualifying gains.
  1. Explore Partnership or Shareholder Agreements
  • If transitioning to junior partners, structuring a gradual buyout can spread tax liabilities over time.
  • A shareholder agreement ensures a smooth transfer while protecting financial interests.
  1. Optimize Pension Contributions
  • Transferring business assets into a Self-Invested Personal Pension (SIPP) can provide tax advantages.
  • This strategy allows you to sell assets tax-efficiently while securing retirement income.
  1. Review Estate Planning Strategies
  • If passing the practice to family, consider gifting shares over time to reduce inheritance tax exposure.
  • Using lifetime gifting allowances ensures tax-efficient wealth transfer.
  1. Seek Professional Tax Advice
  • Given the 2026 inheritance tax reforms, consulting a specialist accountant ensures compliance and maximizes reliefs.
  • A tailored succession plan helps avoid unexpected tax burdens.

By implementing these strategies, surgeons can secure their legacy, reduce tax liabilities, and ensure a smooth transition for their private practice.