Is your practice losing money through payroll inefficiencies?
Millions of pounds are being wasted in the NHS each year through overpayments and inefficiencies in payroll, a report has found.
The London School of Economics and the Policy Analysis Centre estimated that over £70 million is being lost each year. This was broken down to a “very conservative estimate” of at least £30.5 million being lost each year through overpayments due to issues with manual inputting, and an additional £41 million being lost through general errors and corrections in payroll systems.
The report highlighted audit reports that found that Barts and the London NHS Trust had made overpayments of approximately £1 million a year for at least two years, with one doctor in particular receiving £126,000 in overpayments over three years. It went on to show how Kent NHS Trusts had also made over £3 million in overpayments over five years.
These issues were not specific to one part of the country however, with similar problems being noted across the NHS for a number of years. Certain trusts have even had to resort to hiring debt collectors in the past to chase staff overpayments.
“Even the smallest failures in staffing levels or payroll accuracy have a significant impact on clinical effectiveness and the costs of the NHS, given the overall size of the workforce” the study stated.
One step you can take to ensure your practice is not losing money is making sure you have the right payroll software in place. IRIS GP Payroll is RTI compliant payroll software designed to handle GP specific requirements.
Did you know you can try IRIS GP Payroll today, completely free?