Latest

Starting a Medical Practice

by Alix Dower | 1 Apr | ebooks, Investment, Medical Practice Valuation

Starting a practice is probably one of the most significant professional decisions a doctor will undertake during their professional life. “Starting a practice” or to “Buy into an existing practice” is a common goal for many doctors and health professionals.

Setting up a Medical Practice: Should You Practice Solo or in a Group?

by Alix Dower | 26 Mar | blogs, Medical Accounting

Practitioners need to decide whether to practice with other doctors or on their own. Choosing to work with other co-owners could have numerous benefits, however they are very minimal if the co-owners of a practice do not work together or more importantly do not completely trust each other as business partners.

5 Things to Consider before Hiring for your Medical Practice

by Alix Dower | 12 Mar | blogs, Human Resources, Medical Accounting

Staff are easy to hire but not so easy to fire. Therefore, much thought should go into your practice before another staff member is hired. Staff salaries are usually responsible for a large percentage of your expenses. Here’s a list of alternatives we recommend you consider before hiring.

Buying an Established Medical Practice

by Alix Dower | 4 Mar | ebooks, Medical Accounting

Buying a practice should be the best investment for a GP. A mark of a good practice is a demonstrable ability to produce an above average return for its owners. Prospective buyers will be prepared to pay a premium over the value of the practice’s tangible assets to receive that above average rate of return.

Budgeting For Your Medical Practice Success

by Alix Dower | 27 Feb | Budget, Medical Accounting

Budgeting is the basis for all business success. It helps with both planning and control of the finances of the medical practice.

Single Touch Payroll – Will You Be Ready for 1 July 2019?

by Alix Dower | 7 Feb | blogs, Payroll, Superannuation

Single Touch Payroll (STP) is the new streamlined system for the ATO to receive payroll and superannuation data from employers. Those employing less than 20 staff will need to comply from 1 July 2019.

Investing in the Next 100 Years

by Alix Dower | 31 Jan | blogs, Investment

Successful investors know successful investing occurs over decades and across generations. With the height, stability and longevity of a doctor’s income comes the opportunity to plan for the next generation.

Investing in a Medical Practice

by Alix Dower | 30 Jan | blogs, Investment, Medical Practice Valuation

A young GP will often ask what should I do? Buy a home or buy a practice? Our answer is “buy a practice first. And then use the extra cash flow to buy a better home.” Find out more by reading our complete eBook.