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February 14, 2018
The work of the north east’s leading specialist medical and healthcare accountants in helping bring two Tyneside GP practices together has been praised by the team driving the project.
Rawling Road Medical Centre and Oxford Terrace Medical Group in Gateshead have merged to become Oxford Terrace and Rawling Road Medical Group with help from the industry specialists at RMT Accountants & Business Advisors.
The merger was undertaken to give patients of both former practices wider access to more specialist advice and further enhance the quality of service offered.
It is already showing results in way both sites operate, in terms of patients’ access to GPs, the breadth of services provided across both surgeries and the business’s overall future financial performance.
The new combined Group now encompasses 12 GPs, along with around 30 other clinical and support staff, and serves over 15,200 patients from across Gateshead.
Dr Peter Young, partner at Oxford Terrace and Rawling Road Medical Group, says: “The merger focused on improving patient access and quality as well as the range and variety of services we could provide.
“Being able to pool our premises, budgets and resources also gives us a stronger starting position from which to manage the clinical, logistical and financial challenges of delivering primary care within the evolving NHS framework.
“We undertook extensive consultations with our respective patients before we moved things forward, and there was a good appreciation across the board of the benefits that this merger would bring, benefits which are already being felt just a short time after we officially came together.
“RMT were involved from the outset of the merger process, and were central to what we wanted to achieve. Their detailed understanding of the financial implications of bringing our two businesses together gave everyone involved a clear view of what the impact would be on every aspect of our work.
“The importance of having medical specialists working on the project who understand both where the primary care sector is now and where it’s likely to go in the future cannot be underestimated, and the action plan that we developed together early in the process set out a roadmap that we’ve followed to a successful conclusion.”
RMT is nationally acknowledged as one of the UK’s leading independent specialist medical and healthcare accountancy practices, and works with many medical professionals both across the regions and throughout the UK, including over a third of all the GP practices in the North East.
RMT director Maxine Pott, who leads the firm’s Medical & Healthcare team, adds: “The changing face of primary care sector commissioning is potentially going to make this type of practice merger ever more common in the coming years, and the Oxford Terrace and Rawling Road teams have taken a very proactive approach to both improving services for their patients and enhancing the combined practice’s income streams.
“The way in which medical sector finances have developed in recent years, especially within primary care, has put an even greater emphasis on strategic financial advice and business support, and the positive impact this can have across all aspects of a practice’s operations is clear to see from the results of this merger process.”
RMT provides the full range of financial and business advisory services through its Specialist Tax, Recovery & Insolvency, Corporate Finance and Medical & Healthcare divisions. For more information, please visit www.rmthealthgroup.co.uk