This isn't how primary care is funded in the slightest. If it was it would be an awful lot nicer to work in. The doctors are not share holders they are a partnership structure. They aren't allowed a ltd liability structure at all as you aren't allowed to hold a GMS or PMS practice as a ltd company. There is a different structure for private companies providing GP services which are normally significantly financially favourable but 5-10 years at a time. As a more normal contract holder you can't switch to this without the whole contract going out to tender. If you lose the expensive tendering process you are out of a job, but also as mentioned you can't structure as ltd company so you are liable for all redundancies. Essentially nobody can switch as the risk is too high.
We aren't paid on an item of service contract either. We are paid on a ridiculous provide everything for 73.50 per patient per year all you can eat buffet arrangement with some further complex arrangements providing extra care for certain conditions. For this reason as the workload goes up with more elderly complex patients GPs continually either take large pay cuts by having to employ more staff on the same income, or their waiting times increase as they struggle to do the work with the same staff. Most try find a happy medium with not letting their income drop too much but try and maintain the service as best they can.
The system is very much broken and absolutely cannot be considered like any other private business. Each practice for instance has no negotiating powers on their contract and has a contract imposed each year after some form of negotiation by something called the GPC. Every year the goal posts are moved which leads to countless hours of extra managerial load
