Consultants can practice medicine privately in any one of five different
ways. Each of which need not be to the exclusion of the others. The
five different ways of practicing are:
Sole Practitioner
A consultant can practice privately on his or her own without interaction
from a business point of view with any other consultant. Any interaction
is normally restricted to clinical matters.
Chambers
A word very much in fashion amongst consultants but in essence is a
generic name referring to a group of consultants practicing from a premises
and sharing expenses.
In the past this type of group was referred to as ‘Rooms’.
It is simply an expense sharing arrangement. The consultant continues
to practice as a sole practitioner.
more
on chambers, expense sharing...
Partnerships
Consultants can come together to share income and expenses on an agreed
basis.
Each is bound by each other’s decision as a group.
The most common examples of medical partnerships are those of General
Medical Practitioners.
Partners within a partnership share a common goal or objective, which
has brought them together in this close working relationship.
Normally a partner has to give a high level of commitment to his/hers
other partners.
more
on partnerships...
Limited Liability Partnerships
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.
more
on limited liability partnerships...
Limited Companies
Consultants within a limited company are normally both shareholders
and directors.
As for partnerships consultants within a limited company share a common
goal or objective. However, the shareholding can allow for different
levels of and different types of commitment
The company normally employs the consultant.
more
on limited companies...
Not Mutually Exclusive
The decision as to what type of the above arrangement a consultant
practices is determined by his or hers goal or objective and whether
this is shared in part or in full by any other consultant or consultants.
The level of commitment to the group is also an important factor.
The different entities are not mutually exclusive.
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.
click on any group to find out more information
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