Family doctors are struggling to join and form new or expanded group practices because of the cost of closing and/or consolidating offices. When doctors can work as a team it benefits their patients by providing flexibility in scheduling and more access to care. Group practices also help spread out a practice’s responsibilities and expenses as everything is shared among the group. The GPSC is now introducing the Group Family Practice Development Grant which will provide $30,000 for physicians who qualify.
Individual physicians can claim as much as $30,000 in eligible expenses but the combined claim of a single group family practice is capped at $200,000. Expenses like ending a lease, relocating, consolidating or transferring medical records and software licensing fees, and expanding or renovating your clinic space are all covered by the grant. The grant includes costs between September 1st, 2020 and March 1st, 2022. If you’re eligible, your application needs to be submitted by March 31st, 2022. In order to apply for the grant, you must:
- Have joined or started a new or expanded, privately-owned, group family practice with three or more co-located family physicians
- Have proof of expenses for consolidating the new or expanded group family practice between September 1st, 2020 and March 1st, 2022
- Be practicing as a Community Longitudinal Family Physician (CLFP). If you’re not sure, check the GPSC Preamble
After your new or expanded group family practice is created, submit one online application form (for the group, not per physician) where you’ll be asked to detail each doctor’s expenses.
If you’re considering claiming the grant, check out this FAQ for more information. The advantages of this grant will benefit not only you, but your colleagues and patients overall. The more support you receive, the better you can perform your responsibilities and uplift your community.
This article offers general information only and is not intended as legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. While information presented is believed to be factual and current, its accuracy is not guaranteed and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the author(s) as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by RBC Ventures Inc. or its affiliates.