Years ago, everyone wanted to be a partner, then in the early 2000s with GPs’ earnings at an appallingly low level, GPs were less interested in being partners and it was not uncommon to find the partners earning less than the salaried GPs.
After the 2004 contract GP partners’ earnings increased significantly, and partners were less willing to take on partners as it diluted their earnings.
So where are we today? I have had a number of conversations this week with practices which are looking to recruit partners again. The reasons for their change of heart are twofold, workload is reaching breaking point and partners generally do more than salaried GPs, and secondly, with the impending cuts in income, the differential in earnings will diminish.
I was a little surprised to find the salaried GPs unexcited about the partnerships on offer. Once all the reductions income are taken into account, the net income as a partner is not materially more in these cases than the salaried GPs are currently earning.
But it seems likely to me that there will be a number of salaried GPs being made redundant in the next few years – from PMS practices which lose their growth and GMS practices facing cuts to their MPIG, and basic economics – the greater the supply the lower the cost.
A partner is for life, a salaried GP can be made redundant.
