When it comes to your medical practice management, the ability to make well-informed decisions depends on the quality of information available to your management team.
We can support your medical practice by providing analysis and advice to help you to drive growth through effective financial medical practice management.
Whether it is working with you to protect your assets, fund your medical practice's growth, or develop an exit strategy to maximise your return for a comfortable retirement, Walshs have practical solutions to help you achieve your goal.
Along with our network of complimentary professionals, we can ensure your practice operates as its maximum potential. We can act as your business partner to identify efficiencies in operation, implement process improvement ideas and best practice solutions, and manage ongoing compliance issues.
We can review your medical practice to determine what's performing well and where your business can improve. Working with your medical practice management team, our experienced advisers can develop key performance indicators specific to your needs.
Buying into a private practice - and how our specialist medical accounting team can help
Buying into an established private practice can be a great opportunity, as the structure and systems are already in place. However, it's essential you undertake thorough research to ensure you pay the correct price and completely understand the business you are joining. Walshs can provide due diligence services to ensure your interests are protected, and you enter agreements with comfort and certainty.
Some areas where we can assist:
Due diligence on acquisition
Practice acquisition strategies
Cost review and reduction strategies
Debt structuring advice
Asset protection strategies
Coordination of review of legal contracts and agreeements
Starting your own private practice - and how our specialist medical accounting team can help
Establishing your own practice can be an exciting and daunting opportunity. Our professional, reliable and client focused team can help. We work with you alongside our network of experts in legal, technology and practice management that have assisted many clients in starting both general and specialist practices.
It's critical to establish the right business structure from the start. Each structure has its own benefits and limitations, so it is vital to choose one that meets your needs and adheres to ATO guidelines while producing tax benefits. Choosing the wrong structure can make a massive difference to your wealth and financial security. Walshs have built a great network of professionals to assist you in all areas of establishment and successful medical practice management.
The network of complimentary professionals we have built allows us to assist in all areas of practice establishment and successful ongoing operation.
To find out more about how we can support you in transitioning to private practice click the button below.
Purchasing private practice premises - and how our specialist medical accounting team can help
Owning your own medical rooms is a goal of many practitioners. It is important that you consider all the available structures and strategies to help you achieve your practice premises objectives.
Walshs, along with our network, can assist with the following steps:
Property selection and price negotiation
Financing to lease or buy
Deciding on the most appropriate structure to own the premises
Design and fit-out
Medical practice management
Walshs, along with our network, can provide consulting services to ensure your medical practice operates at its maximum potential. We can act as your business partner to identify efficiencies in operation, implement process improvement ideas and best practice solutions, and manage ongoing compliance issues.
Some areas where we can assist:
Business performance and benchmarking
Budgeting and forecasting
Financial management and reporting
Business management and partnering
Due diligence for business acquisitions and mergers
Periodic budget reporting and analysis
Operational efficiency and best practice implementation
Compliance – ATO, ASIC and Medicare
Succession planning and exit strategy
KPI development, reporting and analysis
Breakeven and profitability analysis
Banking and funding reviews
Forecasting projected profit and loss, balance sheet and cash flow statements
Our reliable bookkeeping and payroll teams have a wealth of specialised experience from many years of medical practice management. We can take care of all of your bookkeeping, payroll and accounting needs. We can also provide ongoing analysis and access to live reports on the performance of your business.
Engaging our bookkeeping service delivers efficiencies and cost savings for your business. You also benefit from access to all of the divisions of our team for fully integrated, seamless medical practice management, allowing you to get on with what you do best – caring for your patients.
Our bookkeeping service offering includes:
Preparation of monthly management accounts
BAS and IAS preparation
Data entry and processing
Reconciliations – bank, credit cards, loans and ATO accounts
All advice on this site is general in nature and does not take into account your personal circumstances. Please do not hesitate to contact one of our adviser accountants or financial planning advisers if you have a query that is specific to your circumstances.
ABN 11 248 978 295 Walshs Financial Planning Pty Ltd AFSL 432636 ABN 82 122 293 912 Corporate Authorised Representative No. 463774 of Walshs Finance Australian Credit Licence 459119