Primary's profits nosedive
Profits from bulk-billing patients at one of Australia’s biggest GP corporates have taken a dive.
Primary Health Care reports profits fell by 36% for its bulk-billing medical centres — dropping from $42 million in the second half of 2015 to $27 million in the second half of last year.
The company, which boasts 71 medical clinics nationwide, is attributing the fall to weaker than expected GP recruitment.
According to its half-year report released on Wednesday, it managed to attract 61 new GPs in the second half of last year.