The COVID-19 pandemic has placed practice business models under a magnifying glass, and many have been found wanting. Fewer consults, increases in nurse and reception triage, medical stock wastage, lack of PPE, and issues with transitioning to telehealth have caused serious problems for many practices. Some may not recover. The pressure to adapt in such
We are proud to be invited by the AMA (WA) to present to young doctors and Practice Owners. The Australian Medical Association (WA) is pleased to host a webinar that looks at money matters specific to doctors in training. While junior doctors focus on building their clinical skills and research repertoire, and walking the tightrope
Patients are “voting with their feet” by avoiding waiting rooms during COVID-19, but GPs don’t have to wait passively for patient confidence to gradually return, says business adviser David Dahm. Instead, GPs can take back control of the situation and change the way they operate so patients feel safer making face-to-face appointments again, Mr Dahm
As many as 70% of GP practices may have so far passed up government support of anywhere between $30,000 and over $100,000 because practice owners and practice accountants are failing to comprehend how their practice structures actually qualify them for the new JobKeeper scheme. At the same time, major pathology labs are continuing to behave
Coronavirus pandemic leaves hundreds of medical practices on the verge of collapse David Dahm was invited to speak on the ABC 7:30 Report about falling patient numbers and the impact this is having on General Practices and the healthcare industry. Hundreds of medical practices are on the verge of collapse because of a fall in
Patients are “voting with their feet” by avoiding waiting rooms during COVID-19, says business advisor David Dahm. But GPs don’t have to wait for patient confidence to gradually return – they can take control of the situation and change the way they operate so that patients feel safe coming in for face-to-face appointments again, he
Major pathology companies are attempting to halve their rental payments to GP practices across the country, a move that threatens to financially cripple already struggling clinics at a time of critical need. Many Australian GP clinics depend on rental payments from co-located pathology centres to remain viable, and the revenue source has become increasingly important
Practice management expert and accountant David Dahm has released a comprehensive and practical 101 survival guide for practice owners HERE Since the start of the COVID-19 crisis, many practices have been buried in a rolling series of problems which are starting to culminate in a fight for financial survival. Dahm says the most important starting point
We are proud to announce, after many decades, the desktop Doctors Pay (Service Fee) Calculator has moved to the cloud. Unfortunately, the and the desktop solution for DPC will terminate on the 31st July 2020. You will not be able to open the program unless you have a valid subscription program with us. You may
The two cash flow boosts provided by the federal government to help businesses deal with the COVID-19 emergency have largely been overshadowed by the JobKeeper program, but they could provide valuable financial support to organisations that qualify. Some businesses may have already noticed refund payments or tax credits appear in their tax account. With the
Think carefully Did you know that on the 1st July 2020 your staff may be legally entitled up to a 1.75 % pay rise? Just ensure you have carefully considered the future of the practice. Then make sure you have a current agreement with your amazing staff in writing. You cannot afford to make an irreversible strategic
There have recently been some changes to workplace laws to support employees and employers during the coronavirus pandemic. JobKeeper scheme The Fair Work Act has been amended to support the implementation and operation of the JobKeeper wage subsidy scheme (JobKeeper scheme) in Australian workplaces. These changes are temporary and will end on 28 September 2020.
We have a free sustainable COVID-19 plan for your practice ABC 7:30 Report national TV interview ABC 7:30 Report article interviewCoronavirus leaves medical practices on the verge of collapse.As reported by the Royal Australian College of General Practice in June 2020, 12% of practices do not feel they are viable, and 37% are not sure!
Deanna Niarhos from Health and Life named national finalist in the Australian Accounting Awards for Rising Star of the Year. Deanna Niarhos, accountant at Health and Life was named as a national finalist in the Rising Star category in the recent 2020 Australian Accounting Awards. We congratulate her for this prestigious recognition for her work
With many people now working from home because of COVID-19, some of the expenses your employer normally covers – such as electricity, heating and cooling – are coming out of your pocket instead. Some employers provide a daily allowance to help with these additional costs, but if not it’s important to claim your extra expenses
A key part of the government’s economic response to the coronavirus is to support business investment and cashflow by increasing the instant asset write off threshold and eligibility rules. So what is the instant asset write-off (IAW) and how can it help your business? Claiming an immediate deduction Put simply, the IAW provisions allow your business to
Proudly hosted by The Medical Republic about JobKeeper Medical and Healthcare Practices – your JobKeeper questions answered! For more information click here. On Thursday the 14th of May, 7:30 pm AEST, we will be hosted by the Medical Republic to speak about how your Practice might qualify for JobKeeper and recent important changes to how the ATO views
How to Globally Terminate COVID-19 and Preventable Healthcare Errors (click here) We look forward to your support by joining us on Facebook. To learn more why we need a not for profit International Healthcare Standards and Ethics Board (IHSEB) to avoid mixing politics, business with health visit our website ihseb.org.au. Do you really want to show
In the current climate, many businesses are needing to make changes to accommodate staff working remotely. If you are able to work from home the ensuing changes to your work habits can be challenging to negotiate, however there are things you can do to ensure that you maintain productivity and motivation while you’re not in
We have a free COVID-19 plan for your practice As featured in The Medical Republic click here for more information. How are you and the team doing? We understand that practices are busy responding to COVID-19. We hope this guide may help you work more efficiently and effectively. We aim to make this easier for you
As many as 70% of GP practices may have so far passed up government support of anywhere between $30,000 and over $100,000 because practice owners and practice accountants are failing to comprehend how their practice structures actually qualify them for the new JobKeeper scheme. At the same time, major pathology labs are continuing to behave
As all leaders can attest to, no leadership role is smooth sailing. There will inevitably be the occasional storm coming over the horizon, with different challenges you need to respond to. Sometimes these challenges will be unprecedented, such as the impact of the coronavirus pandemic while others may not be of this scale. As every
On April 8th, the JobKeeper package was passed by both sides of Parliament and legislated. This update offers further guidance on the scheme. Workers with multiple jobs If you are employed by multiple businesses, you are only eligible to receive the payment from your nominated primary employer. Timing The JobKeeper will be available from March
On April 7, the Government announced new commercial rental waivers and deferrals for tenants that have been severely impacted by the coronavirus crisis. The draft Code of Conduct is to impose a set of ‘good faith leasing principles’ and intended for landlords and tenants to share a proportionate financial risk and cashflow impact during this
The coronavirus is first and foremost a health crisis, but as measures are being taken to reduce the spread of the virus throughout the community, many profitable businesses may temporarily suffer financial hardships. The Government announced the following initiatives to assist these businesses to make it through the crisis and resume normal business. Temporary higher
Workers may soon have access to unpaid pandemic leave and extended annual leave at reduced rates to help keep them in their jobs through the coronavirus crisis. On 1 April 2020, the Fair Work Commission (the Commission) issued a Statement outlining its intention to update 103 awards during the coronavirus pandemic. The proposed updates would provide: 1.
The Government released further funding on March 29 to support the secondary effects of the health and economic impact of the coronavirus. This package is designed to provide care and help to the many who are facing hardship as a result of this crisis. Medicare support at home The $669 expansion of Medicare-subsidised telehealth services
As part of the measures taken by the government to support those impacted by COVID-19 some people will be able to access up to $10,000 of their super between now and 1 July 2020, with a further $10,000 in the first three months of the 2020-21 financial year, tax free. Those who are eligible include
The Government has accelerated depreciation deductions for the next 15 months. Up until June 30, 2021, businesses turning over less than $500 million will be able to deduct 50 per cent of the cost of any eligible asset the moment it’s installed. It’s predicted these two tweaks to the investment rules could benefit up to
In a rapidly evolving response to the spread of COVID-19, the Federal Government announced in March a new suite of welfare packages to help Australians who’ve found themselves out of work. Among them are the JobSeeker and JobKeeper payments. Here’s a rundown of how they work: JobSeeker This initiative was devised in mid-March, prior to
The government is loosening the criteria around the instant asset write-off. Pre-Coronavirus, businesses with a turnover of up to $50 million could instantly write-off the purchase of assets costing up to $30,000. Post-Coronavirus, businesses with a turnover of up to $500 million can write off asset purchases of up to $150,000.
The Australian Government has announced unprecedented assistance to help businesses of all sizes manage their cashflow and retain their employees. The six-month JobKeeper Payment of $1,500 a fortnight per employee is made through the tax system and is available to small, medium and large businesses, and not-for-profits. Legally employers must pass on the payment to
We have a free COVID-19 plan for your practice. How are you and the team doing? We understand that practices are busy responding to COVID-19. We hope this guide may help you work more efficiently and effectively. We aim to make this easier for you and make sure General Practices stay open to free up
