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

3 comments

after-a-difficult-day.jpg

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 you get there?

We are, thanks to you. Our CEO and founder David Dahm has been recognised as a 2019 ‘Business Women of the Year’ Judge and in the 2019 Accounting Awards and this may be why.

ttttttttt

For over 25 years we have been acknowledged as being much more than a traditional accountant.  We offer financial security to our healthcare clients.

tttt.png
Recently we were nominated (again) for another National Award. We are a multi award-winning firm and continue to be recognised for our unique services to the healthcare industry and accounting profession.

Setting up and running a healthcare practice is complex. It is not for the foolish or faint-hearted.

When decisions affect people’s lives, happy owners, staff and patients are critical.

Healthcare professionals understand it is common sense that prevention is better (and cheaper) than a cure. Unfortunately, common sense is not always that common when it comes to your finances. The same applies to financial and business advice.

The goal should be to be proactive ‘earn while you sleep’ so you can eat well and sleep well. How you achieve this is not by reinventing the wheel. By using our exclusive and flexible market-proven practical solutions we can help you to get to the next level.

Traditional accountants are struggling to keep up with you!

Today it is not enough to use a traditional accountant (or start up accountants) in setting up and running a successful practice. In this hyper-complex world, it is not hard to find an accountant that is not able to keep up unless they solely specialise in your industry. We think we are the only ones in Australia to date because it is hard to achieve.

There is a growing need for boutique medical and health service firms in Australia. Accounting firms need to specialise in order to provide you with those services you really need now to protect yourself and to unleash your practice potential.

Since 1992, we at Health and Life have cultivated a deep wealth of experience (for example national practice benchmarks)in setting up and running and advising over 1,200 healthcare practices around Australia.

This makes our services value for money and affordable.

Why pay less when now you have to pay more later to fix unnecessary problems?

A modern-day practice operates in a hyper competitive and complex technological and compliance environment. The old ‘she’ll be right!’ attitude is not good enough. Hope is not a strategy.

t.png

Source: How to increase my income 

We live in a less forgiving environment. In this new digitised world, it may only take one irreversible error recorded by your digital footprints —such as a poorly-written medical record, a bad online review, or an incorrect number on a Business Activity statement or failure to pay —to trigger an expensive and time-consuming enquiry from the Government or a lawyer. 

Choose the right advice, not the cheapest advice!

tt.png

A common mistake is people don’t choose the right advice, but the cheapest advice! They look for what they want and not what they really need. The reality is the law and some things do not work commercially, no well informed legal or financial adviser can advise against it. There is no point in paying for good well-researched advice and not listen to it. 

If you need any convincing, then read our article More Audits and Unsustainable Compliance!  

Many traditional accountants and advisers specialise in tax returns for doctors and other professionals and some financial planning on the side. Just as the Royal Commission into the financial service industry found,  they are paid to sell you loans, investment and insurances that you may not need.

This is of concern if earning referral fees and commissions from people they refer to is a key source of income. We do not do this.

Some have little on-the-ground experience in setting up and running a healthcare practice efficiently and effectively. Their opinions are not sought after and discussed in the national media, as our are. Media outlets regularly consult us for informed opinions on financial and accounting issues.

We have given over 450 interviews on national media on a wide range of topics affecting medical practices. Our breadth and depth of experience and expertise can be found on our the Business of Healthcare blog. Compare us to your current advisers and decide for yourself how we measure up.

How do you know if your current advisers are meeting your needs?  Compare them to us!

  • Do they have over 27 years’ of national experience of working with over 1,200 medical and dental practices and healthcare agencies?
  • How long have they been working with medical and dental practices?
  • Do they have off the shelf and/or deep industry knowledge? Are they qualified? Have they served on national health industry committees or boards?
  • Do they do pro bono work in this area see The People v Australian Government?
  • Does the national medical and healthcare media seek comment from them?
  • Who are their clients, and what do their clients think of them?
  • Can they offer you legal, accounting, and unique software solutions (e.g. Doctors Pay Calculator and Personal Financial) that are market- and tax office-tested and compliant?
  • Do they use future proof technology that they recommend and actually use themselves? From their client’s point of view, do they understand the healthcare technology out there and what works and what does not?
  • Can they provide cost-effective, real-time daily or monthly alerts that tell you what you are currently doing, and could and should be doing, such as SIPs, PIP’s and alternative income streams?Focus-1024x784.jpg

For over 27 years we have developed and implemented cost-effective practical solutions for medical practices. This is our sole focus: we are not distracted by earning fees and commissions on loans or insurance products you may or may not need.

Our focus is on your most valuable asset (after your loved ones); your practice.

If you want clear, concise and well-researched advice then contact us. We are yet to encounter a problem that cannot be solved.

Yes, we are acknowledged by media, by industry, by our peers and by our clients, and for good reasons.   We thank you all that have supported our journey. We wish to continue this legacy through to you and the next generation.

Contact us at pa@healthandlife.com.au for a free and confidential chat on how we can help you get to where you want to be. We can give you provide you with an assessment at the first consult on what you should be thinking about. 

Our view is, if we cannot improve your returns, or reduce your practice and personal risks, we do not deserve to work for you.

3 comments on “Why traditional or start-up healthcare accountants are finding it difficult to help you.”

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s