About Chambers...
There has been much interest recently amongst medical consultants for
coming together and working as groups. There are many ways in which
this can happen, with different benefits both for cost effectiveness
and improved clinical care.
What is a Chamber ?
In essence a Chamber is an expense sharing arrangement
between a number of consultants. In the past this was referred to as
‘Rooms’. The Consultants practice as individuals but come
together to practice from a particular premises and share the expenses
on an agreed basis.
There is no sharing of fees and apart from expenses the only thing
shared is the good name of the Chamber. In Chambers consultants share
the common goal or objective of economies of scale.
How does it differ from other structures ?
There are four other structures that facilitate the practice of a consultant:
- Sole Practitioner - The consultant practices privately
on their own without interaction from a business point of view with
any other consultant.
- Partnership - Common
among GP partnerships, Doctors come together to share income and expenses.
Each member shares the common goal and is bound by the decision of
the group.
- Limited Liability Partnership
- Available as a professional entity since 2001. It was introduced
as a way for professionals, particularly solicitors and accountants,
to practice and avoid unlimited liability where the medium of a limited
company was unsuitable.
- Limited Company - Consultants
within a limited company are normally both shareholders and directors.
The consultants are normally employed by the company and share a common
goal or objective. The respective shareholdings can allow for different
levels of and different types of commitment from each member.
A consultant can be a Sole Practitioner, in a Chamber, Partnership
and the director/shareholder of a Limited Company all at the same time
practicing different aspects of medicine.
Further Information
How
will Chambers effect Patients
How
will Chambers effect GPs
Further
information for Consultants
The
FIPO Chambers sub-group
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