We are experienced in establishing new healthcare clinics in the UK and tertiary medical centers across the UK and the Middle-East. The UK boasts a private healthcare market worth around £4bn and is the solution of choice for almost 15% of the population. A significant proportion of those using private clinics receive funding, but with almost 20% being self-pay, there is a clear potential for increased earnings should a qualified healthcare professional decide to establish their own clinic.
Not everyone can set up in private practice – it’s very nature demands a high degree of both commitment and qualifications. Those establishing their own practices must hold a registered medical degree, FRCA or equivalent, a certificate to prove they have completed their training and they much have entered the appropriate specialist register of the GMC.
While long-term benefits are clear, and there is evidence of greater potential profits, setting up in private practice is a more complicated – and often costlier – process to begin with. Medical indemnity insurance will be higher, and it is advisable to work with a specialist accountant who understands the complexities of this nature of medical practice. Tax issues must be dealt with directly, and care should be taken to ensure that there are no clashes of interest with any NHS work still being undertaken.
Once a clinic has been established, there are steps that need to be taken in order to obtain admitting rights or practicing privileges. These are not a given right, and must be granted by the Medical Advisory Committee (MAC) of the private hospital where you wish to work. Hospitals can refuse this at their deiscretion, even when a consultant meets all the required critieria, but we can advise on steps that can be taken to increase the likelihood of the process running smoothly and admitting rights being granted first-time.
Our experience enables us to advise on the level of fees appropriate for the nature of the practice and the geographical area within which it will be set. We evaluate factors such as time taken to deliver the service, the nature of the service and the qualifications required to deliver it and the complexity of the care being provided.
We help clients setting up in their own practice to secure the appropriate private medical insurance. Our knowledge in this area can save you time as we already know the relevant forms, paperwork and documents that will need to be shown in order to register with an insurer and guarantee the appropriate level of insurance in secured.