Thinking of setting up in private practice? Let Medserv’s Derek Kelly guide you through the essential first steps…

Establishing yourself in private practice is an exciting and rewarding step in your medical career. After years of training, NHS service, and clinical excellence, many consultants decide to enter the independent sector to gain autonomy, improve work-life balance, and diversify income. But setting up in private practice comes with its own learning curve, especially when it comes to business administration, billing, and financial flow.

At Medserv, we’ve worked with hundreds of consultants across all specialties, helping them build sustainable and financially secure private practices. This article offers a practical, structured guide for newly independent consultants navigating their first years in private practice. Whether you’re just starting out or refining your setup, the steps below will help position your practice for long-term success.

Get registered on the Private Practice Register (PPR)

Before seeing your first patient, it’s vital to ensure you’re properly registered on the Private Practice Register (PPR). This centralised platform (supported by major private medical insurers like Bupa, AXA Health, Aviva and others) streamlines the credentialing process by enabling consultants to maintain a single, verified profile accessible by hospitals and insurers.

Why it matters:

  • Most hospitals require PPR registration as part of their practising privileges approval process.
  • It simplifies insurance recognition, helping you get listed with insurers faster.
  • It reduces paperwork by providing a central hub for professional documentation.

Tip: Register early. The process can take a few weeks, and you’ll need to provide GMC details, qualifications, indemnity cover, and appraisal evidence. If working with a billing company, like Medserv, they can often support this process.

Understand the fee structure: Self-pay vs. insured patients

Private practice in the UK is paid for either by self-funding patients or medical insurers. While the clinical service may be the same, the billing process differs significantly.

Insured Patients: Most UK insurers (Bupa, AXA, Vitality, WPA, etc.) operate under fee-assured arrangements. This means the insurer has a set fee schedule for specific procedures and consultations. If you agree to be “fee assured,” you accept these rates in exchange for simplified billing and faster reimbursement.

  • Pros: Reduced billing disputes, faster payment cycles.
  • Cons: Often lower than market rate for some procedures, especially surgical fees.

Self-Pay Patients: With self-funding patients, you set your own fees. This offers greater flexibility and the potential for higher income, but pricing must be carefully considered to remain competitive and fair.

Benchmarking your self-pay fees

One of the most common questions we get from new consultants is: “What should I charge self-pay patients?”

There is no universal pricing standard, but there are established benchmarks you can use to guide your fee structure. These include:

  • PHIN (Private Healthcare Information Network): Offers data on typical prices charged across the UK for procedures and consultations.
  • Local Competitor Rates: Research what nearby consultants in your specialty are charging, especially in the hospitals or regions you plan to practise in.
  • Hospital Pricing Teams: Many private hospitals provide guidance on typical fee ranges and can advise what is acceptable for their self-pay packages.

Key considerations:

  • Align initial fees conservatively while building your reputation.
  • Ensure pricing reflects your expertise and subspecialty.
  • Display fees transparently where appropriate. We are seeing that patients increasingly value this.
  • At Medserv, we provide our consultants with custom benchmarking reports to help set fair, evidence-based fees.

Optimise billing and keep track of payments

The clinical part of private practice may be familiar, but the financial side is not something most consultants are trained in. Left unchecked, billing and unpaid invoices can quickly become a source of stress and lost income.

A robust billing process includes:

  • Prompt invoicing (ideally within 24 – 48 hours of consultation or surgery).
  • Correct coding (especially for surgical procedures).
  • Chasing unpaid invoices diplomatically but consistently.
  • Reconciling insurer remittances to identify underpayments or errors.

Even more importantly, consultants must maintain visibility over their income. Using online reporting systems allows you to:

  • Track payments by patient, insurer, or procedure.
  • Identify aged debt.
  • Forecast income and spot cashflow trends.

Cashflow is king in private practice. A delayed payment may not seem critical in month one, but over time, poor billing hygiene can lead to significant income gaps.

Working with a billing partner like Medserv can help automate these processes. We offer consultants real-time access to payment data via our online portal, ensuring full transparency and peace of mind.

Use patient feedback to grow your practice

In today’s digital world, word of mouth is no longer limited to conversations in waiting rooms. Reviews are a critical driver of reputation and patient acquisition, especially for self-paying patients who often choose consultants based on Google searches or online profiles.

A simple yet powerful way to grow your presence is to add a Doctify QR code or link on your invoices.

Doctify is one of the UK’s leading review platforms for medical professionals. By adding a Doctify QR code or link to your invoices or email communications, you can encourage satisfied patients to leave reviews after their consultation or treatment.

Benefits:

  • Boost your online visibility.
  • Build trust with new patients.
  • Provide social proof of clinical excellence and bedside manner.

It’s a small step that can yield significant long-term returns, especially in competitive areas like London or the Home Counties.

Stay compliant and protected

Lastly, don’t neglect the regulatory and professional safeguards that underpin private work. These include:

  • Medical indemnity insurance covering private practice specifically.
  • ICO registration for handling patient data.
  • CQC registration, where relevant (e.g., if you run your own clinic premises).
  • Accurate record-keeping for financial and clinical audit purposes.

Partnering with trusted administrative and financial advisors ensures your practice not only runs smoothly, but also safely.

Launching into private practice is a milestone achievement, but like any business, success depends on organisation, financial control, and patient satisfaction. By setting strong foundations, clear pricing, timely billing, transparent reporting, and thoughtful patient engagement, you position your practice to thrive.

At Medserv, we’re proud to support consultants at every stage of their private journey, from initial setup to full practice growth. Whether you’re still navigating PPR registration, unsure about your self-pay pricing, or struggling with inconsistent cashflow, we’re here to help you take control of the business side, so you can focus on what you do best.

Interested in learning more about how Medserv supports new consultants? Visit medserv.co.uk or contact us directly for a no-obligation chat.