Setting realistic budgets and forecasts within GP organisations By: Tracey Vell | Post date: 20/12/2017 | Time to read article: 1 mins The information within this article was correct at the time of publishing. Last updated 14/11/2018 () ★ Communicate Contracts Financial management Marketing & business development New care models Show More Setting realistic budgets and forecasts in the evolving market is challenging. Can you tell us how you approach this? Dr Tracey Vell, Chief Executive of Manchester Local Medical Committee, discusses the challenges of budget setting for GP practices. Transcript Setting realistic budgets and forecasting the future is really a moving target at the moment and it depends on multiple things. It depends on the provider unit, whether you are a practice or the growing ambition of working in a hub and standardisation of provision or even in a locality which we’re doing a lot of in Greater Manchester. So I think really on looking at forecasting you need to look at the change in the provider landscape. You also need to think about the possible challenges you might have to the investment, first of all, so where are you going to bring the investment from and where are you going to actually put bids in for investment? So, forecasting is not easy in general practice apart from that we have a core contract which is pretty set but all the different strands in the new world of integration are new strands of funding. So I think forecasting is more difficult but being realistic about your budgets is essential if you’re going to be a GP federation that’s going to survive. Share this article Share Tweet Medical Protection Expert Tracey Vell Tracey Vell has worked in general practice for over 23 years. Now, she also acts as chief executive of Manchester LMC and chair of the Association of Greater Manchester LMCs, as well as working nationally on the New Models of Care Technical Committee.