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Industry

Medical Practices

medical practice business adviceGeneral Practitioners and Medical Specialists have a range of unique business advisory and accounting requirements. We understand that time is something most doctors don’t have a lot of. You need someone who understands your practice and can provide specialist advice that will save you time and money. Our team has unique insight and over 30 years experience which applies specifically to medical practices and ensures we are well-equipped to help your practice improve efficiency, enhance productivity and deal with the distinctive challenges GPs and medical specialists face.

medical-practice

Key considerations we can assist with.

  1. Service Trusts – we can structure your practice so the administrative tasks are carried out by a separate entity, allowing you to focus on your professional work, while ensuring the trust complies with Australian Tax Office rulings.
  2. Cashflow – using our cashflow model designed to help General Practitioners and Medical Specialists enables you to keep track of business expenses, improve your competitive position and ensure profitability.
  3. Finance Options – our in-house finance broker can help you with a range of options to cover the cost of premises and new equipment without dipping into your cash reserves.
  4. Strategic Planning – we can perform a financial health check to ensure you have a full appreciation of your practice’s long-term viability.
  5. Business Improvement – we can provide the tools and specialist knowledge to ensure your medical practice is running smoothly with advice for streamlining your practice’s processes.
  6. Bookkeeping Serviceswe’ll take care of the books while you take care of your patients, managing your paperwork and ensuring you remain compliant.
  7. Exit Planning – we help you plan ahead, partnering with you to produce wealth creation strategies to structure your income, assets and investments in ways that are tax-smart and most effective for now and into the future.

Whether you are just starting out and looking to establish a practice or you’re experiencing growth and need advice on how to expand, we can provide the specialised advice to assist you at every step of the way.