New to Management – Practice Finance (Virtual)

Maximum Capacity: 20

Summary:

This introductory course provides new and aspiring Practice Managers with a practical understanding of how money flows through general practice and the manager’s role in supporting effective financial management. 

Delegates will explore the principal sources of practice income, common areas of expenditure and the financial information Practice Managers are likely to encounter. The course is designed to build financial confidence rather than accountancy expertise, helping delegates understand the questions they should ask and recognise when financial information requires further investigation. 

Practical examples will demonstrate how everyday operational and workforce decisions affect practice finances and why effective financial oversight is an important part of sustainable practice management. 

Course content:

• How general practice is funded, including core contractual income and key additional income streams
• Understanding common practice expenditure, workforce costs and the relationship between income, costs and sustainability
• Reading and interpreting budgets, management information and basic financial reports
• Budget monitoring, variance, cash flow awareness and identifying emerging financial pressures
• The Practice Manager’s role in financial controls, forecasting, decision-making and supporting effective financial governance

On completion of this course delegates will be able to (expected outcome):

• Describe the principal sources of general practice income and expenditure and understand how operational decisions can affect practice finances
• Interpret basic financial information, identify significant variances or emerging concerns and ask appropriate questions
• Contribute more confidently to budgeting, financial monitoring and day-to-day financial decision-making within their practice