Are you covered for the challenging times ahead?

It is difficult to know exactly what 2021 is going to look like. We can be certain that the healthcare sector is set to face ongoing challenges, putting continued strain on individuals physical and mental wellbeing.

It is well documented that stress and anxiety are some of the top reasons for staff absences. You may be able to cope with short-term sickness or staff having to self-isolate for a few weeks, but burnout or other mental health issues can take much longer to resolve.

NHS shortfall

Average hourly rates for locum GPs continue to rise in general, while the NHS reimbursement levels stay the same for GP partners and salaried GPs, resulting in a shortfall for the practice.

The NHS sickness reimbursement scheme only goes so far as it does not cover other practice staff such as nurses or receptionists. Indeed, practice managers, GPs, pharmacists and other key staff are also not covered by the NHS scheme. In addition, you should bear in mind that under a traditional practice partnership agreement, any financial exposure will be on the partners.

You may want to consider an added level of protection to support your practice should your staff be unable to work for longer periods of time. This is where Locum Insurance comes in. It provides your practice with financial assistance when you or a team member is unable to work, covering not only stress related absences but also time off for pregnancy, maternity, jury service, suspension by a regulatory body as well as illness, injury, and even back related issues*. Sickness cover will be included if a member of staff tests positive for COVID-19, however, self-isolation due to contact will not be included.

Locum Insurance

Here at Lloyd & Whyte, we can provide you with flexible Locum Insurance, which is there to help you carry the financial burden should your staff be off work.

It is easy to set up Locum Insurance, with no medicals required. You can choose the weekly benefit levels you require ranging from £100 to £2,500, so you know exactly what will be paid out to the practice after the deferment period (which can be set at any time from one week onwards).

This gets paid directly to the practice, unlike income protection – which provides financial support to the individual who is unable to work. Your practice has the flexibility to use these payments as required, such as covering overtime, sick pay, hiring locum staff, or even balancing practice overheads.

Unlike many other Locum Insurance policies, with the Lloyd & Whyte scheme there is no need to prove expenses or provide receipts, making it a lot simpler to claim and administer.