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The Medics' Money Business for GPs course

The Medics' Money Business for GPs course teaches GPs what they need to know to make better business and financial decisions

GPs are taught plenty of clinical medicine. But GPs are taught almost nothing about the business and financial skills needed to be a GP.

This lack of financial education means GPs can make costly financial mistakes.

Hi there. I’m Dr Tommy Perkins, an experienced GP Partner and I’m Dr Ed Cantelo a GP AND a Chartered accountant and Chartered Tax adviser.

As GPs ourselves, we know how little you get taught about the business and finances of GP. Which is why we built this course.

If you want to know:
  • How GP partnerships are funded and why this matters?
  • How to reduce the cost of RCGP exam fees by up to 40% saving you a potential £2,454?
  • Whether your NHS Pension is a good deal and the essential annual checks your pension needs
  • Whats the difference between GMS, LES and QOF income?
  • Why the senior partner is always naging you to record the smoking status of patients and take their blood pressure?
  • What the CQC does?
then this course is for you. 

We will teach you the essential financial and business aspects of being a GP.

The Medics’ Money Business for GPs course will set you up for a happy, profitable and rewarding career as a GP.

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Our course

Is available online and can be watched anytime, anywhere on our app.

Is delivered by experienced GPs and experienced specialist medical accountants.

Covers the curriculum requirements set out by the RCGP for GP trainees.

Contains optional MCQ’s to reinforce learning and prepare for the AKT.

Is eligible for NHS funding via your training hub or by using your study leave budget.

Apply now to get access to the course.

Already signed up to the course? Click here to log in.

Frequently Asked Questions

The course is designed for all GPs, and is especially suited to GP trainees, salaried GPs, locums and practice managers. If you are a partner the course will give you a base level of understanding but we have another course that is more suitable for partners https://www.medicsmoney.co.uk/gp-partnership-programme/

For GP Trainees the course covers the business and finance RCGP curriculum requirements and includes exam questions to test your knowledge as you go along. Up to 10% of the Applied Knowledge Test is on organisational structures that support general practice including the business aspects that our course teaches.

As GPs ourselves we know how busy you are so the course is accessible 24/7 online and our app allows you to access the course on the go at a time that suits you.  Our app also allows you to interact with us and other participants, ask questions of the experts and access bonus material.

As well as covering the curriculum requirements set out by the RCGP our course also gives you practical tips from experts who have worked as or with GPs for years.

The full curriculum is here:

Module 1 – Introduction to the UK Tax System. Understanding the tax you pay and why and how to use this knowledge to make sure you don’t pay too much tax. 

  • Module 2 – Claiming Tax Relief on Employment Expenses. Want to save £thousands of pounds on RCGP exam fees? This is where we show you how.
  • Module 3 – Payslips and Tax Codes. An incorrect tax code could be costing you thousands in take home pay. Learn how to correct it here.
  • Module 4 – National Insurance (NI) Contributions. If you’ve overpaid NI its your responsibility to reclaim this. Here we show you how to do that.
  • Module 5 – Self-employment and Locums. If your thinking about locuming but not sure where to start with self employment and paying tax then this is for you.
  • Module 6 – The Business of GP. How do GP practices make money and why does that matter? Everything you wanted to know but were too scared to ask like what is the Carr- Hill formula and what are drawings.
  • Module 7 – Understanding the Practice Accounts. The practice accounts are like anatomy and physiology – no one wants to learn it but until you understand it you won’t be able to understand and improve your practice.
  • Module 8 – Where does the money come from? If you don’t know your Global sum form your LES or QOF then this will simplify and explain this complex topic.
  • Module 9 – The Partnership Agreement 
  • Module 10 – Understanding your NHS Pension.

    The NHS Pension is one of the best investments you can make. But it’s important you understand it and the checks you need to make. We also include a step by step guide to correcting pension mistakes.

  • Module 11 – Information Technology in the NHS. Efficient use of technology allows GPs to get more done with less – which is useful in the NHS. 
  • Module 12 – Premises Some GPs can own their surgery building. We explain how this works and some common pitfalls. 
  • Module 13 – Practice Development and Staff Staff are your biggest asset, but you need to learn how to look after them and train them.
 

Our faculty includes GP Partners, Specialist Medical Accountants, Specialist Medical Financials adviser, Lawyers who specialise in GPs, GP Property experts, GP wellness coaches and practice managers. Medics’ Money is unique in that we have all the best advisers available, so you get the very best information from leaders in their fields.

The course is self paced – you start when you are ready and you have 3 months to complete the modules. It will take you approximately 4-5 hours to complete the course.

The course costs £144.00

Apply now an we will give you details of how to access funding.

If your practice are paying it will cost them as little as £8 (after tax deductions) per partner to send you on our course.

In many areas our course is funded by training hubs. Alternatively, subject to approval the course can be funded by your study budget. Apply now and we will send you a template letter to support your application.

Many forward thinking ICBs and training hubs provide our course to help improve GPs financial wellbeing. Apply now and we will contact you with more details.

Our course can be paid for in a number of ways.

We work with many local training hubs who fund the course for their trainees. 

If you apply now we will email you details of how to fund the course. 

Accountants are great (Medics’ Money was founded by Dr Ed Cantelo who is not only a GP but also an accountant) but they’re not GPs. Our course combines the technical knowledge of our specialist medical accountants with the practical knowledge of our experienced GP team. The Medics’ Money team has taught thousands of GPs and we understand the issues you face and the knowledge you need to know.

The Medics’ Money course covers the RCGP curriculum requirements AND more. 

The Medics’ Money Business for GPs course will teach you:

  1. How to make better financial decisions. Once you understand how GP contracts work and the tax you pay and why, you can use this knowledge to make better business decisions.

  2. Practical Application: Theory is great but our course combines the technical expertise of accountants with the practical knowledge of experienced GPs to deliver you practical strategies and actionable insights that you can immediately apply to your financial situations.

  3. Expert Guidance: GP is a complex business and unfortunately theres lots of misinformation online. Our course is taught by experts at the top of their game.

  4. Networking Opportunities: Our online community allows you to meet and learn with your peers and interact with industry professionals, fostering a community of support and collaboration.

  5. Time-Efficient: As GPs ourselves we know how busy you are which is why the course can be accessed 24/7 via our app. You can learn in bitesized amounts at a time that suits you. 

  6. Continued Support: Our community offers you the option to get ongoing support as your career progresses. 

We make the complex easy to understand

Our course is taught by experts who use clear infographics to make the complex topics easy to understand.

Bitesized videos

Unlike yawn inducing mandatory training courses, our course uses bite sized videos to give you succinct explanations and real world practical applications of the knowledge.

What will the Medics Money course cover?

As well as covering the curriculum requirements set out by the RCGP, our course also gives you practical tips from experts who have worked as or with GPs for years.

The full curriculum is here:

  • Module 1 – Introduction to the UK Tax System. Understanding the tax you pay and why and how to use this knowledge to make sure you don’t pay too much tax. 
  • Module 2 – Claiming Tax Relief on Employment Expenses. Want to save £thousands of pounds on RCGP exam fees? This is where we show you how.
  • Module 3 – Payslips and Tax Codes. An incorrect tax code could be costing you thousands in take home pay. Learn how to correct it here.
  • Module 4 – National Insurance (NI) Contributions. If you’ve overpaid NI its your responsibility to reclaim this. Here we show you how to do that.
  • Module 5 – Self-employment and Locums. If your thinking about locuming but not sure where to start with self employment and paying tax then this is for you.
  • Module 6 – The Business of GP. How do GP practices make money and why does that matter? Everything you wanted to know but were too scared to ask like what is the Carr- Hill formula and what are drawings.
  • Module 7 – Understanding the Practice Accounts. The practice accounts are like anatomy and physiology – no one wants to learn it but until you understand it you won’t be able to understand and improve your practice.
  • Module 8 – Where does the money come from? If you don’t know your Global sum form your LES or QOF then this will simplify and explain this complex topic.
  • Module 9 – The Partnership Agreement 
  • Module 10 – Understanding your NHS Pension. The NHS Pension is one of the best investments you can make. But it’s important you understand it and the checks you need to make. We also include a step by step guide to correcting pension mistakes.
  • Module 11 – Information Technology in the NHS. Efficient use of technology allows GPs to get more done with less – which is useful in the NHS. 
  • Module 12 – Premises Some GPs can own their surgery building. We explain how this works and some common pitfalls. 
  • Module 13 – Practice Development and Staff Staff are your biggest asset, but you need to learn how to look after them and train them.

We’ve distilled all the essential knowledge you need to thrive as a GP and recruited the best experts to teach you. 

  • Ask questions at our live interactive teaching sessions.
  • Catchup replays of all live teaching
  • Work together, ask questions and collaborate with other GPs and financial experts in our exclusive online course community 
  • Bonus teaching sessions in the community on how to improve your personal finances
  • 3 hours of CPD 

Apply for a place on the Course

If you are interested complete the form below and we will get back to you.

Apply to course now
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Don't just take our word for it...

Look what these GPs learned on our previous courses..

Who will be teaching the course?

Dr Ed Cantelo GP, Chartered Accountant and Chartered Tax Adviser

I’m Ed and I’m not only a GP, but also a Chartered Accountant and Chartered Tax adviser. This unique skillset allows us to deliver the very best financial training to my GP colleagues. I specialise in Tax issues and have recently adopted two rescue cats.

ed-transparent

Dr Tommy Perkins, GP Partner wSI Dermatology

I’m Tommy and I’ve been a GP Partner for several years now. As cofounder of Medics’ Money I’ve learnt so much from Ed and the other experts at Medics Money which helped me settle into my partnership. I want all GPs to get the benefit of this expertise so we set up Medics’ Money. In my spare time I enjoy spending time with my family and surfing waves.

tommy-transparent

Andrew Pow, Specialist Medical Accountant at Medics Money, AISMA board member

I’m Andy Pow and I have over 20 years’ experience in medical accounting. My specialist areas include appraising the performance of GP practices, changes in GP structures, and the NHS pension scheme. As well as working at Medics’ Money I’m also a board member of the Association of Independent Medical Accountants(AISMA) and a leading commentator on healthcare issues. In my spare time I enjoy hill walking in the lake district with my wife, who is a GP.

 

andrew-pow

Feedback from course attendees

Pre-course assessment

This pre-course assessment gives you an idea of what the course covers. Don’t worry if you answer mostly 1-2’s, by the end of the course you will be 4-5’s