Sally Sidaway and Lisa Pennington discuss how you can help GPs master their practice’s cash flows.
Never has the term ‘cash flow is king’ resonated more with practitioners. Client conversations so often include concerns about running out of cash, despite feeling as though the workload never stops growing. As it becomes harder to anticipate the timings of income for practices, alongside ever-increasing expenses, how do we help our GP clients to plan and budget to control their cash flow?
Sally Sidaway, Medical Director, Morris Crocker and Lisa Pennington, Client Director – Healthcare, Mazars sat down with advisory group chair Katie Collin to troubleshoot some of the questions regarding cash flows and how members can help their GP clients plan and budget.
“Without doubt the most pressing issue for many GP practices right now is controlling the cash flow whilst managing the workload. As accountants to our clients’, it is increasingly important that we keep being proactive in terms of making them aware of all the issues that surround their cash inflows and outflows. It is easy for us to divorce profits from cash, earnings from appropriate drawings levels but it is an area that many of our clients need help with. Sadly, we have no magic wands but, even when words of wisdom are sometimes not what they want to hear, the knowledge to understand what they need to understand is vital.”
- Sally Sidaway
The webinar took place on 3 June and we would like to thank those that were able to attend and submit their questions. For those that missed it, they can catch up by watching the video on-demand or visiting our dedicated recordings page, which features a back catalogue of our previous events.
