New Tax Office Warning – your practice could be facing a double risk?!

Breaking news : Watch out doctors ATO takes aim! I raised this news story with the Medical Observer last week and it made the headlines see: http://www.medicalobserver.com.au/news/frypan-to-fire-tax-traps-for-gps and http://www.medicalobserver.com.au/news/watch-out-docs-ato-takes-aim. Unfortunately, if your doctors or practitioners are affected by the recent Federal Tax Office announcement then your practice may be simultaneously exposed to a significant payroll tax

Continue reading

Nudge economics – ‘A Nobel prize winner reveals psychology of saving money.’

A professor’s research reveals nudge economics is far more effective than setting rules when it comes to changing people’s financial behaviour. From an article on the ‘My Business’ website: ‘Professor Richard Thaler’s studies are centred on ‘nudge economics’, wherein simple fixes or hacks, rather than rules or laws, are employed to nudge people in the

Continue reading

Medicare cops reveal they unfairly prosecute healthcare providers

Medicare ‘cops’ reveal they have no consistent procedures or policies when prosecuting healthcare providers! The Government has just admitted they do not provide authoritative guidelines . We are concerned our Medicare Item Complexity has revealed Medicare audit anxiety may be harming patient care see Are uncertain Medicare rules hurting your provision of care? It is

Continue reading

Are uncertain Medicare rules hurting your provision of care?

Medicare Audit Anxiety is on the increase! According to a two-year survey, over 83% of doctors/providers believe that the care they provide to patients is affected by the uncertainty surrounding Medicare rules. The Government has admitted for the first time there is a serious problem and it is harming patient care; see Health officials promise

Continue reading

2019 New Medicare Laws expose practices to fraudulent billing

Practices may now be liable for their provider’s billings. From 1st July 2019, medical and healthcare practice owners must be careful when incentivising their doctors or allied health professionals using the percentage of their gross fees method, or any other similar method. A possible risk is if a provider ‘dobs in’ a practice to escape

Continue reading

Restructure now: Labor will limit your tax deductible accounting and taxation fees to $3000 p.a.

Should voting for a change in government mean you allow a new Government to reduce your ability to pay unnecessary tax by limiting your tax deductions to $3,000 p.a? And, by the way, possibly also increasing your risk of paying more unnecessary tax or losing a tax audit for not getting the right advice? Is

Continue reading

Practices facing tough penalties for MBS abuse

A recent headline in the Australian Doctor may set some alarm bells ringing “Corporates face tough new laws for MBS abuse”. Legislation just passed by the Federal Government means that, from July next year, where a practitioner has been found guilty of inappropriate billing, the practice not just the practitioner will have to refund the money to Medicare. This

Continue reading

How to opt out of the Government’s national electronic health record now

Seriously how safe will your personal health records be? The Australian Government announced in 2017  the creation of a My Health Record for every Australian to have by the end of 2018. The ABC’s recent article My Health Record: Your questions answered on cybersecurity, police, and privacy boasts the now in trouble with Privacy Laws Health

Continue reading

Health Engine Patient Data scandal; what should you do next?

After a recent national patient data breaches headlines …. ‘Scandal-hit HealthEngine axes third party referrals, patient reviews’ ‘HealthEngine app announces ‘major changes’ after doctor and patient backlash’ This important article comes from an independent law firm Peripheral Blue.  Now is a good time to consider what you need to do. Even amidst the (almost daily)

Continue reading

Medicare Audit Anxiety is hurting patient care; High Court Challenge – Thank you Julian Burnside QC – complete this historic survey

Medical error is the third biggest cause of death, and the following is yet another systemic example. Source: Medical error the third biggest cause of death According to a research report published by the British Medical Journal Medicare billing practitioners receive very little if any billing education in Australia. The current system is legally and

Continue reading

What am I doing wrong? How does a practice keep up with practice overheads and continue to provide quality patient care?

The recent Medicare increase is equivalent to a wage earner receiving a 1.5% p.a. pay rise after a decade of pay freezes. Practices will either have to cut costs or work longer hours, risking burnout. On 1st July wages increase up to 3.5% but Medicare increases by less than 1.5% after a long freeze.  

Continue reading

The Royal Commission: cannot legislate good behaviour, so how do you protect yourself?

Five key tips towards finding a trusted ethical financial adviser In this article we cover the following key tips: Being financially self-aware and literate is the best protection you can give yourself Do not be fooled by glossy brochures and flashy offices, qualifications  or professional associations or organisations Do not be rushed into to doing anything, and

Continue reading

New Data Privacy Laws breached every two days!

Australians’ sensitive health information, including data on women who have had abortions, is not being properly protected, a News Corp investigation has found. Under a new mandatory notification scheme, businesses must now report a data breach to the Office of the Australian Information Commissioner.  The first 37 days of the new mandatory notification scheme has

Continue reading

New Tax warnings for doctors – Health care home tax ruling and excessive income splitting and service entities

There are two areas of concern: Homecare tax ruling Excessive income splitting and service entities   Homecare tax ruling Practices have been given up to 18 months to get compliant or lose out on the Practice Incentive Payments (even though trials are taking place). It is not certain whether the program will actually ever be

Continue reading

Does your professional association represent you? What do you personally risk losing?

It is so important professional membership associations and not for profits to walk the talk when it comes to representing their members as well as the community’s best interest. This is about being open, transparent and accountable. By taking this for granted, this will risk any statutory privilege provided by the Government that their members

Continue reading

Readers question – Why start succession planning when you start up your practice?

We have just received an important question from a reader, regarding succession planning. Practice manager ‘Ali’ asked; when do you start to think about succession planning… in particular about issues such as timelines, how long it takes on average to sell a practice, and whether staff are retained versus replaced?  When should you start planning? 

Continue reading

Fixed Fee Financial outsourcing of your bookkeeping and or accounting – NEW!

If you cannot measure it you cannot manage it! Australian first for healthcare practices a new way to lower your overheads and improve profitability. What are the three important things people want in life? Go big, boutique or broke by tackling two of your greatest stresses There are three important things people want in life: That

Continue reading

Doctors pay Calculator (‘DPC’) and service agreement a new national service just got easier and more cost effective! – NEW

Australian first for healthcare practices a new way to lower your overheads and improve profitability – NEW! Are you being paid correctly? You cannot afford to get your key providers pay wrong.Keeping their trust is a must. If you are paying providers a percentage of their gross fees, you will be pleased to know you

Continue reading

VIDEO’s ON DEMAND – New Video Releases

We have a library of our cutting edge seminar presentations made around Australia. Armchair Medical have made this initially available free. (We received no commissions or payment for this service). If you are interested in clinical and non clinical topics, Armchair Medical offer a low cost subscriber option. They offer excellent and timely advice tailored

Continue reading

Your Medical Records Exposed… Confirmed!

As I predicted in February 2016, your personal health record is being exposed, with or without your full knowledge. The Federal Government’s new $2bn national patient electronic health record system rollout is at full throttle. This potentially means others have electronic access to your mental health, drug and alcohol abuse, sexually transmitted disease, domestic violence, and

Continue reading

Why we nearly liquidated our high profile international professional body CPA Australia

Dear readers; you are probably wondering why I, David Dahm am involved with this matter. The answer is simple. It has to do with my work in promoting the accounting profession (and issues in the medical profession as well – in particular how the medical and health care professions can reduce fatal medical errors.) After

Continue reading

HEALTH AND LIFE IN THE MEDIA

Tax nightmare looms healthcare homes May 2017 Disease challenge April 2017  – the need for standards David Dahm’s innovative solution to prevent ‘bullying’  international healthcare standards and his views on the ethics board was cited in the American Journal of Physicians and Surgeons December 2016 David is interviewed on top practice tips you can implement.

Continue reading

To reduce fatal medical errors, look to the world of accountancy

AFTER heart attacks and cancer, medical errors are the third biggest cause of death in Australia. And believe it or not, there’s an easy solution without having to invest the billions we spend on other medical research. For full video presentation click here Human error accounts for about 40 deaths per day in Australia’s health

Continue reading