Easing financial pressures for early career doctors
We’re determined to reduce the cost of regulation, both for individual doctors and the system as a whole. We’ve been extremely focused on driving efficiencies and this has resulted in savings, which we were able to pass on to doctors in 2018.
All doctors registered with a licence to practise benefited from a £35 reduction on their annual retention fee from 1 April 2018 onwards.
In the first years of their work, doctors face a host of new expenses – student loans, indemnity insurance, monthly subscriptions and ongoing training. In recognition of the financial strain, we introduced reduced fees for doctors joining the register for the first time.
Eligible, newly-qualified doctors now receive a fixed-term discount, which could save them over £1,000 across five years. To date, approximately 7,000 newly-qualified doctors have benefited from these reductions.
We also continue to offer a discount on fees for doctors whose income falls below a certain threshold.
And we’ve removed the charge for those doctors paying their annual retention fee in instalments.