April 2022 marks a significant turning point in terms of finances for both employers and employees within primary care, as changes to the National Living Wage are made, the new Health and Social Care Levy comes into force and there are additional implications for those paying into the NHS Pensions Scheme. Regular podcast guest and primary care accountancy guru James Gransby returns to walk us through all the updates and what these could mean in real terms for practices and staff as individuals. James is joined by Practice Index panel members Nicola Davies and Claire Houston who reflect on the significance of the changes, how they can best prepare themselves (and their staff) as Practice Managers, and how they might mitigate the risks, and the knock on effect, on the ground.
Introductions (30 secs)
Changes to the National Living Wage (1 mins)
The Health and Social Care Levy (1 min 38 secs)
The knock-on effect on employers and employees (2 mins 32 secs)
Impact from a practice perspective (3 mins 7 secs)
Nicola’s reaction / pressure on staff (4 mins 12 secs)
Claire’s views / benchmarking performance in line with finance (6 mins 9 secs)
Implications for recruitment (7 mins 41 secs)
How can we make our vacancies more attractive to potential applicants? (8 mins 49 secs)
Pitting practice against practice (9 mins 41 secs)
Pensions changes in summary (10 mins 53 secs)
The effect of the McCloud Judgement (11 mins 40 secs)
Reviewing personal pensions choices (12 mins 13 secs)
How can we ensure everyone is aware of what’s coming? (16 mins 12 secs)
Where accountancy firms can help (18 mins 5 secs)
Will the additional costs be considered centrally? (19 mins 17 secs)
Contractual pressures (20 mins 21 secs)
Communication is key (21 mins 43 secs)
What else do we need to be aware of right now? (23 mins 17 secs)
The Practice Index benchmarking tool Claire mentioned can be found here
The Practice Index website is here
For all enquiries, please contact James Dillon here or Ben Gowland here