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

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‘Integrity Defines Success’ ‘Integrity Defines Success’ David Pridham and David Dahm at the University of South Australia’s (Great)Pridham Hall Opening. David Dahm three wise words are ‘Integrity Defines Success’. This was officially with many others etched on the ‘Inverted Pyramid. For information see Great Hall Donor Congratulations to the Honourable Member Christopher Pyne for 25

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Is your Doctor ripping you off?!

We find these headlines disappointing when it comes to paying to see your doctor or any adviser. GP rebate: What I do for the $37.05 that no one wants to pay People in Saba jackets complain to me about “crap bulk-billing doctors”. It’s like whingeing that McDonald’s gave you reflux. If you haven’t already, read

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Are your medical records exposed without your consent?

90% of Australians have agreed to have their private health records online! Despite the controversial headlines such as My Health Record: clinics receiving up to $50,000 a year in incentives and  My health record  opt out doubles to 2.5 million people  My Health Record has met a key default milestone. Yes, 90% of Australians have

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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

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More Audits and Unsustainable Compliance!

We predict more Government audits for 2019 and beyond! We expect an increase in ATO audits over the next 12 months after seeing a spike in taxpayers details being linked (data matched) to the Tax Office’s databases. Furthermore there will be new 1st July 2019  harsh laws that stop legitimate payroll tax deductions if you

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Do you love your wife? Do you love your job?

What makes a great leader and manager? This video by Simon Sinek best explains the key qualities in leadership and management needed to build staff trust. Without these qualities, you cannot lead an organisation to scaleable success. By contrast, a low staff morale breeds poor engagement, higher turnover, system failures and lower patient or customer

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New Tax sting: Is your practice running like a brothel?

A Brothel has to pay GST, withholding tax in cash economy case. A high-end brothel will have to pay more than $6 million after an unsuccessful bid to avoid tax and GST obligations relating to its sex workers. Purely from an accounting and taxation viewpoint we examine the key issues. Those who would like to

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New Fair Work Law – Permanent Casuals can double dip on their pay!

You may have read in the media about a 2019 case where a regular casual claimed  annual leave entitlements even though the employer had thought their higher hourly wage was in lieu of these and so was not liable. That cost would come from casuals “double-dipping” by claiming leave entitlements in line with a permanent

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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

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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

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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

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Use the ‘Best of Breed’ processes and technology is the key to survival

Solve staff stress and burnout What follows is a 4-step process to address staff stress and burnout. The key is clarity and transparency,  and having the right processes and technology in place, so your systems provide full visibility of your entire staff work load, even down to the individual team member. The 4 key four

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Outsourcing the hard stuff!

Outsourcing is a better solution – 10 great reasons why. Increasingly it is getting harder to find and retain talented and experienced people. At the same time, technology is evolving so fast it is making many hard-earned skills redundant overnight. This may not concern you much, until it gives your competitors a competitive edge –

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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

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Exit Planning – Five things to think about

The last thing you want to find, at the exit of your practice journey, is that you don’t have the right structures in place to successfully say goodbye to your practice. That’s why you need to ensure you have everything in place, well before the final farewell. A succession plan for your practice, formulated well

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The People v Australian Government

Support a landmark legal fight for a Better, Fairer, Simpler and Safer healthcare system for all Australians “This is dedicated to all those patients and carers whose lives have been affected with or who have had difficulty in navigating our complex healthcare system” – David Dahm A Patient Advocate “We thank the high profiled human

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Why traditional or start-up healthcare accountants are finding it difficult to help you.

Are you being acknowledged by your patients and peers? At the end of the day, your practice is your most valuable investment. It puts food on the table, a roof over your head and pays for your retirement. Ensuring that it stays in the safest possible hands is critical from the outset. Can we help

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SEASONS GREETING MESSAGE

Yes, we listened to your feedback from last year! As another year draws to a close, we celebrate 27 years in practice. The team at Health and Life would like to wish all of our clients, readers and supporters a Merry Christmas and safe holiday and New Year. We could not have done this without you. It has

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Keeping the family in family practice

We all know about the importance of continuity of care to patient health outcomes, not to mention GP job satisfaction. We also know that building strong relationships with patients is the foundation that allows this to happen. But how does your practice approach this? Do you rely solely on doctor-patient rapport and good quality care?

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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

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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

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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)

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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

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1st July 2018 3.5% Award pay rise or freeze revisited!

Did you know that on the 1st July 2018 your staff may be legally entitled up to a 3.5 % pay rise? Also just announced is a new option for people to be paid out their four weeks’ annual leave. Just ensure you have the agreement with them in writing! July 2018 up to 3.5%

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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.  

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2018 Historic Doctors/Providers Payroll Tax warning!

Beware of the payroll taxman… As reported in a recent interview in the Medical Republic paying doctors or providers incentives may attract payroll tax that many are unaware of. A checklist based on this recent case is below so you can test how safe you are from an audit. We have recently received a number

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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

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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

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Medicare Audit Anxiety is it fake or real what does the High Court think?

Medicare Audit Anxiety is it fake or real? We have asked this question in our last news alert article Do you find trouble in interpreting the MBS item numbers?. We need your feedback. Please complete and share this important five-minute survey . We collect this de-identified data for the High Court of Australia. Prior to

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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

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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

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New Excessive Pathology Rent Red Book Alert!

We have been receiving reports from some practices that GP’s in private medical practices have been targeted by a recent mass Pathology Rent Red Book mail out from the Department of Health. The Department is informing referring GPs of the current prohibited kickback rules e.g. excessive rents being offered to practices and to be wary

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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? 

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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

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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

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Time to start restructuring now before 30th June!

If you are trying to formulate a succession plan or are simply getting your books into order so you can draw up a succession plan or sell a practice, now is the time to restructure, i.e. before the end of the financial year, so to save as much as 40% on your bookkeeping and accounting

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We have updated our Privacy Policy

At Health and Life, it’s our mission to improve the lives of people, here in Australia and globally. Health and Life hosts this The Business of Healthcare blog and the Health and Life website. To help us achieve this mission, and in preparation for the new EU data protection laws, we’ve updated our Privacy Policy,

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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

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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

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Pathology Rent Police

As an accountant specialising in assisting medical practitioners, I am concerned about the unfair playing field and potential intimidating and questionable legality of the Government’s new initiative to protect big pathology business against small practices with a new data kick back monitoring system, when the there are no clear rules for enforcement or ethical brakes

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A Powerful New Way to Manage Your Practice…!

In a world that is already going through major changes due to technological advancement, the business of healthcare is evolving to meet the demands of a new fast-paced culture. Today, we want everything immediately, and this has created opportunities for optimisation in the world of healthcare. Will you be ready to ride with these changes,

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Time to change to a proactive Accountant/Adviser?

Start off on the right foot with an experienced, future proof accountant/advisor who cares for your practice/business and will help you work.. on the fun stuff too! This article will help you find the right accountant for you. Asking the right questions is more important than asking for the right answers. Financial security – Start

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Do you find trouble in interpreting the MBS item numbers? We need your feed back…

If you want to know why you have trouble interpreting the MBS (Medicare Benefits Schedule),  here is why you cannot get a straight answer- the answer is nobody knows. It is time this issue was fixed, so we need to hear from you, regardless of whether you are a doctor or a practice manager. As

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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

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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.

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Reminder 2.4 % Staff Award Pay Rise from 1st July 2016?

1st July 2016 2.4% Award pay rise or freeze?! Did you know that on the 1st July 2016 your staff may be legally entitled up to a 2.4 % pay rise? Also just announced is a new option for people to be paid out their four weeks’ annual leave. Just ensure you have the agreement in

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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

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Australia’s Most Trusted Doctor!

As reported last week in  on the 8th April 2016 at Sydney Novotel Darling Harbour, David Dahm is honoured to be invited to speak with an eclectic group of speakers. This includes the controversial  Dr Charlie Teo, who was voted Australia’s most trusted person in 2014 by Readers Digest subscribers and Professor Barry Boettcher, a blood

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