Tailored advice based on practice lifestyle
By getting the right assistance when establishing a practice, particularly around asset protection, a GP Practice can ensure that the best legal structure is adopted to minimise risk, together with personal advice on insurance and estate planning.
Most GP Practices do not believe their practice is operating at peak efficiency. Complete our Risks Survey to find out what to focus on to de-risk your business.
PRACTICE LIFECYCLE
While there are constants, such as the operating of an efficient practice and minimising risks, dentists have different needs, depending on where they are in the practice lifecycle. By getting the right assistance when establishing a practice, particularly around asset protection, a dentist can ensure that the best legal structure is adopted to minimise risk, together with personal advice on insurance and estate planning.
STARTING
We help new practices interested in understanding what level of gross patient fees (GPF) is required to reach the break-even point, and how to manage costs. Prepare cash flow forecasts to obtain practice finance for equipment and fit-out.
GROWING
Growing practices are concerned about the growth in gross patient fees, maximising staff productivity and improving efficiencies. We help to benchmark actual practice costs to industry benchmarks to ensure that the Principal/Owners Doctors receives the greatest returns on their efforts. They also need to have a plan in place to attract quality GPs and Registrars to their practice.
SELLING
Where one or more Principal/Owners Doctors is considering their exit, are concerned with succession planning, practice valuations and the level of GPF at which the practice will transition from personal to practice goodwill. There is interest in maximising practice value, planning the transition to new ownership and ensuring identified successors are aligned with the practice’s goals and plans. Strategies to retain quality contracting GP’s in the practice also have appeal.
Why partner with medical financial
FOCUS on core business issues
Have more time and energy in directing your focus towards your core business issues, as well as in developing new services and finding innovative ways to usher in new customers.
MAKE INFORMED DECISIONS
Improve your decision-making capabilities by clearly seeing the hard and true numbers of the business.
Minimise risks
Have a better understanding of the financial side of the business, especially for first-time entrepreneurs, in order to minimise risks and have more control over the business’ cash flow.
PEACE OF MIND
Have a sense of comfort knowing that a professional has your back when it comes to overseeing, protecting, and constantly improving the financial aspect of your business — all while reducing threats and helping you harness and grow the overall profitability of your company.
SOUNDING BOARD
Have access to a readily available sounding board for when you need to make tough business decisions, as well as in getting a clearer view of your business plans.
ACcess to SPECIALISTS
Where required we work with a select group of experts for specialist advice in human resources, IT, marketing, legal, estate planning and practice management.
To kick things off, simply contact us for a free consultation or complete our Business Risks Survey. Our Business Risks Survey comprises 10 questions that would help you identify key risks in your business. Once you’re done answering, you’ll receive a personalised Business Risks Scorecard. It only takes 1 minute of your time and we highly recommend you complete the survey before we proceed.
Let our reliable team here at Medical Financial Group help you accelerate the growth of your business and keep it growing for many years to come.
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