Stronger reporting and strategic financial data benefits for PCN Managers and member GP Practices

Since their inception in 2019, Primary Care Networks (PCNs) have become the norm throughout the UK. Combining general practice with additional services within the local network, this requires several funding streams which need expert understanding and robust financial reporting.

About Tone Valley PCN:

●     Part of a national scheme for PCNs

●     Innovative, proactive collaboration of 5 forward-thinking GP practices in Taunton, Somerset

●     PCN manager, Kathryn Kyle joined in 2020. 

Complex financial and organisational needs

For Kathryn Kyle, PCN manager at Tone Valley PCN, no two days are the same. She finds herself liaising with not only general practitioners and practice managers but also patients, mental health practitioners, occupational therapists and many more. Kathryn aptly describes her role as “chief plate-spinner” and “the glue” that holds the system together, ensuring the right people are in the right rooms, while simultaneously maintaining the finances.

Describing the growth that PCNs have experienced over the last 5 years, Kathryn says, “It started off as a really small set of income streams, two or three, and I think in the first year we recruited two or three people. But now there are multiple income streams and we're employing more than 22 people, in addition to the usual practice teams. So it's grown exponentially.”

Unfortunately, traditional accounting and financial reports were geared towards singular GP surgeries rather than the more complex PCN, and they were unable to establish a clear picture of the tightly regulated income streams and expenditure. Kathryn decided to take the advice of an entrepreneurial GP colleague and contact Simpkins Edwards. 

The Solution: Bespoke reporting and PCN-focused advice

Knowing that her colleague had success with Simpkins Edwards, the first task was set: present the 2023 year-end accounts meeting clearly and concisely. Kathryn explains, “It really brought the PCN income streams to life for the practices, and Seb [Beard] and the team were easily able to show the PCN Steering Group exactly what we've been doing with recruitment as well as each individual funding stream.”

A big part of the service is ensuring everyone present in these meetings fully understands the data presented. To make this possible, the information is presented as a mix of infographics and concise, plain English.

Along with the end of year accounts, Kathryn receives a bespoke service from Simpkins Edwards including real-time data, saving countless hours, and building the PCN’s efficiency.

Expert ongoing support and strategic advice

Kathryn can now glean industry-specific strategic advice from Simpkins Edwards’ Healthcare Partner Seb Beard, who has extensive experience in this field.

GPs typically have a long list of tricky questions to work through following year-end accounts meetings, Kathryn recounts. However, following the first year-end meeting with Simpkins Edwards, she says, “What was illuminating after Seb had finished presenting was there were no questions at all. Everyone understood every step of the way.”

As well as the personable team supporting Tone Valley PCN, Simpkins Edwards uses innovative tech to present accurate, tech-driven reports in an unambiguous format. This drives further understanding and analysis, and goes beyond traditional, compliance-based accounting, to aid strategic decisions.

Kathryn feels truly supported by her accountant, and confident that the PCN’s finances are in safe hands as they look to the future, develop hub working models, and consider the potential incorporation of PCNs.

“If I've got any funding queries, or I need professional accountancy advice around the primary care networks, I know that I've got Seb and Mark on hand.”

 

 - Kathryn Kyle, Tone Valley PCN Manager.