This blog is for you if you currently work within the NHS and are considering leaving to become an independent healthcare consultant.
You might be a GP practice manager, pharmacist, physio, data analyst, quality improvement specialist, HR director, or finance manager looking to leave the confines of your current role and work on a range of projects as an independent consultant.
A recent catch-up inspires this blog with Gus Kennedy , Founder of Hero Health. We shared our lessons from building a business in the healthcare space, and we touched on the topic of partnerships.
( P.S Hero Health is a platform that provides intuitive triage, appointment booking, and messaging solutions for NHS GPs. Gus has been a guest on our Business of Healthcare Podcast, and in 2023, his episode became our most listened-to conversation of the year).
When you first start your consultancy or when revenue is low, it’s tempting to rush into partnerships thinking “if I team up with someone else, we’ll double our chances of success.” However, without careful consideration, these arrangements may not be a win-win for both parties.
So here are some questions to consider.
Values & Vision:
- Why do you want to partner with this specific person or organisation?
- What’s your shared vision for this partnership?
- How do you each define success?
- Do you share the same values?
Financial & Operational Reality:
- Is it financially viable?
- How will revenue and costs be split?
- Who owns what intellectual property?
- What happens if one party wants to leave?
- How will decisions be made?
- What’s the realistic time commitment you can make?
- What resources are both parties willing to invest?
Market & Client Impact:
- Will this partnership confuse existing clients?
- Are there any conflicts of interest?
- How will this affect individual brands?
- Do target markets meaningfully overlap?
- Could this disrupt existing client relationships?
Types of Partnerships
Alongside the questions, you will also need to consider the different types of partnerships you might want to consider.
1. Associate Partnerships
Working under an established consultant’s brand while they provide clients and you deliver services.
2. Content Collaboration
Jointly creating valuable content like blogs, podcasts, or whitepapers.
3. Training Partnerships
Co-developing and delivering educational programs by combining expertise.
4. Project-Specific Alliances
Temporarily joining forces to deliver specific client projects.
5. Referral Networks
Formal agreements to refer clients with clear financial arrangements.
6. White Label Services
Delivering specialised services under another company’s brand.
7. Joint Ventures
Creating new services or products with shared investment.
8. Knowledge Exchange
Informal partnerships focused on sharing market insights.
My Dream Partnership
I’m fortunate to have a dream partnership with Ben Gowland (The General Practice podcast), Hussain Gandhi , and Dr Andy Foster (both from eGPLearning).
For the past 2.5 years, we have created content, courses and hosted conferences together.
- Here’s how and why it works:
- We split everything equally 4 ways
- Meetings can proceed even if one even two of us can’t make it
- We trust each other and value our diverse perspectives
- Everyone takes the lead in different areas
- We’re all established in our own areas
- We deliver on our commitments
- We have fun working together
Tips for Successful Partnerships:
- Start small and test compatibility
- Don’t rush unless there’s immediate synergy
- Ensure clear communication channels
- Document agreements and expectations
- Regular check-ins to assess progress
- Be honest about challenges
- Maintain flexibility
- Keep the end goal in mind
- Listen to your gut!
When done right, partnerships can be incredibly rewarding. They’re mutually beneficial and can help both parties grow faster than they would alone. However, take your time to find the right fit.
Podcast
Gus has been a guest on our Business of Healthcare Podcast, and in 2023, his episode became our most listened-to conversation of the year. Gus is no-nonsense, brutally honest, and has a great sense of humour when discussing the challenges of healthcare technology adoption.
🎧 https://bit.ly/235PodcastGusKennedy
