Mr Vik Veer is an ENT Consultant Surgeon who practices on the NHS at the Royal National Throat Nose & Ear Hospital (Kings Cross London). Vik joined us in March 2022 as he was wanting to grow his Practice but was really struggling to manage the financial side of the business. He was also very concerned as to his growing tax liabilities and wanted to ensure that he set aside sufficient funds to cover these charges. Vik considered the services available and decided that the Business Management Support Service was best suited for him.
He wanted to have real visibility with the performance of the business and felt that that the monthly Management Reports and regular business review meetings would allow him to pinpoint how the business could best develop.
We were able to provide reporting that captured sufficient data from the different elements of his services to enable Vik to implement changes to his Practice leading to a year on year 35% increase in revenue.
He also liked the idea of having a separate Client account to make regular provisions for his tax liabilities, guided by the advice in our reporting. He also found it really helpful that we took the strain of managing his suppliers, ensuring they were paid promptly.
Vik has the largest practice in the UK for surgical treatments for snoring and obstructive sleep apnoea, with clinics in Harley Street, Wimpole St, Spire Bushey Hospital (Watford) & Holly Private Hospital (Buckhurst Hill).
Interested in streamlining your business with up to date accounting?
I have never been trained in finance or tax, I have spent my life only practising medicine and forsaking everything else. Once I started my private practice, I entered a world which I did not understand and it became very difficult for me to catch up. I have been through a number of accountants and financial planners to try and help me understand what on earth is going on with my tax, pensions, financial planning etc. It was only once I had a recommendation to seek out JW Medical Management that I realised that I have finally found someone who was able to speak to me in terms I could understand.
What is more, they really seem to care about my private practice. They answer my emails, and even write to me with new ideas and propositions that might help me going forward. For example, recently they contacted me about Making Tax Digital changes that are coming through. Apparently in the next few years this is going to become a requirement and I was a little apprehensive about what I needed to do. Amazingly they had already sorted out and I am reporting in real-time just like our friendly HMRC colleagues would like us to.
I still do not know enough about finances or tax, but I feel much safer in their hands. I cannot recommend them highly enough.
Mr Vik Veer, Leading Snoring and Sleep Apnoea Surgeon