Experienced small-business owners understand the flaws in micro-managing tasks or attempting roles outside the scope of their expertise. Instead, building a cohesive team of doctors and support staff can optimise individual skill sets while external expertise can supplement those areas that require specific skills or technology. Pivotal to the success of establishing, connecting and maintaining […]
A common reaction to change in business is uncertainty and resistance. Since change is inevitable from practice setup to sale, it is wise to develop a strategic attitude to buffer against the many variables of operating a health business. A commitment to continuous improvement can build an environment where everyone acclimates to change for the […]
‘Many hands make light work’ is an idiom that is most applicable when those involved are motivated to work together towards a common goal. Whether we are building a team environment for sport or work, it is a long-term project requiring specific ingredients. Being the rudder that guides a team, the element of leadership provides […]
From a practice startup to a sale, a medical business life cycle progresses through many phases. We could describe these four phases of development as startup, growth, maturity and decline. The startup phase involves increased risk as a business and its services become established. In the growth stage we need to manage how the business […]
We have set up scores of medical practices over the past few years, and from a practice consultant perspective, it is interesting being part of the “journey” with practice owners. The first phase is the most exciting part, called the “setup/planning phase”, which includes formulating timelines and due diligence for the project. The practice owner […]
When starting up or refining a medical practice, it is essential to recognise those areas beyond clinical matters that will help ensure the long-term success of your business. Covering all aspects of business management will most likely require oversight from a practice manager and guidance from business specialists. This oversight is particularly crucial during the […]
When we hear of a cyber attack against a business, we may assume they were dealing with a bored individual looking for excitement on a home computer. More often than not, the real culprits are highly organised, motivated and resourced with servers, algorithms and artificial intelligence. The most common type of personal and professional cybercrime […]
Alarm bells are ringing with a recent Medical Centre Queensland Payroll Tax Ruling spreading fear nationwide. Fortunately there is a 15-minute confidential self-assessment Payroll and Income tax checklist to address this recent “Medical Centre” Payroll Tax and Federal Court Ruling that targets how you run your practice. Please take the time as a medical practice […]
In an ideal world, doctors and patients would run on time and in perfect unison with the practice reception staff, with an orderly booking of appointments where cancellations were unheard of. Even for the most organised doctors, staff or patients, there are factors outside their control that will make them late or cancel appointments. Regardless […]
The excitement of starting something new is eventually tempered by the reality of day-to-day operations. Even the greatest inspiration and degree of determination still require a well-thought-out and executed plan to increase the potential for long-term success. Regardless of any realities, it’s best to think big when setting up your own business, after all, you […]