In 2003/04, the average net income for GPMS GPs in Great Britain was £82,019: an increase of 12.8 per cent from 2002/03. Over the same period, GMS GPs saw an increase in average net income of 11.2 per cent compared to an increase of 8.4 per cent for PMS GPs. The combined GPMS increase is higher than both the GMS and PMS increases due to an expanded proportion of higher-earning PMS GPs in the population (from 19 per cent in 2002/03 to 30 per cent in 2003/04).
The average GPMS gross earnings in 2003/04, with associated 95 per cent confidence intervals, were £203,613 ± £1,233. The average expenses were £121,595 ± £933.
For GPMS GPs with an accounting year-end in quarter 4 the overall expenses to earnings ratio, with associated 95 per cent confidence intervals, was estimated to be 59.7 per cent ± 0.2 per cent in 2003/04. This is lower than the ratio for 2002/03, which was 60.5 per cent and reflects the higher increase in gross earnings compared to expenses between 2002/03 and 2003/04.
In 2003/04, PMS net income was 18.8 per cent higher than GMS net income: the corresponding figure in 2002/03 was 21.9 per cent.
In 2003/04, GMS dispensers had a 27 per cent higher net income than GMS non-dispensers; this is unchanged from 2002/03. PMS dispensers earned 20 per cent more than their non-dispensing counterparts, compared to a 17 per cent difference in 2002/03.