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Why! Read on 

If you are in ‘the Business’, and Healthcare is no different, it is easy to overlook your own condition. Monitoring performance and functioning abilities is neglected! Too busy, no time, no resources. 

Sound familiar! 

Your time is spent responding to market disruptions, price pressures and adapting to new business models. These are all challenges in an environment with cost management, a key objective of all agencies. It can be stressful and exhausting but it's critical you regularly check your Business health status to detect any signs of disease or problems.   

Raises the question, ‘How is the pulse and heartbeat of your Business?'.  

If X-rayed what will it show?’ How strong is the skeleton framework! 

• Strategic Tax Planning – is this in good shape  

• Structure – are the parts arranged to best support your operations 

• Financial check – do your finances have a healthy heartbeat  

• Benchmarking & Management reporting – are these monitored for performance 

Tax Planning provides the opportunity to assess business and operational tax obligations before the end of financial year. Considerations such as, PAYG instalments, forecasting estimates and assisting with cash flowing for any pending residual tax liability or possible variations. 

Take a closer look at your Super contributions. Are you using these effectively, to maximise deductions and facilitate future earnings. 

Business/Wealth Strategy, at a personal level checking your own and family strategy goals and aspirations is a timely exercise. Are you achieving the best results and outcomes. 

Structure: Is your business structured for optimal performance and efficiency and suited to your needs.  Importantly, be prepared to undertake a Business Health Check to determine if it commercially best serves your Business.  

Avoid setting and forgetting, the Healthcare industry is rapidly changing, and it is critical you stay up to date. Technology, funding and client demands impact your operations. Consider staffing performance, patient fees pricing structure and suppliers' costs. 

Financial Health check: Finance, the heartbeat of your Business, it's a vital organ that needs nurturing supported with sound accounting practices, systems and processes. Keeping your paperwork, files, records and billing in good health is vital to survival, along with careful cashflow management to keep the pulse of your Business beating.  

That’s where Blackburn Accounting your family Business specialist can help. Business Management, Taxation and Business structures are our field of expertise. 

Benchmarking & Management: Ask yourself, how does the financial health of your Business compare to Industry standards. Do you know what they are? Is your practice performing well when assessing these factors; 

• Have you reviewed patient’s fees 

• Are you getting value with your suppliers 

• Does your practice size fit your premises (rent) 

• Is space fully utilized 

• Is staff mix and wage costs appropriate  

What to do with your results! If you are small Business you can get caught up in running the Business and true analysis can be put aside. Spending time in the Business is common, instead of time spent on the Business.  

If that’s you, let us help ease the pressure. The Blackburn Team can provide the answers you need to run a successful Business that’s running at peak performance.

You may be a specialist, Cardiologist, Surgeon, Medical or General Practitioner, or one of the many Health Service Providers in the various fields, Pathology or Radiology, Pharmaceutical, Dentistry or an allied health professional.  

This is where a professional accounting service can help reduce the pain. Just as you are Practitioners, experts in health, Blackburn Accounting is your family Business specialists. Our dedicated Team provides essential accounting services, adopting best practices and systems to support the health and wellbeing of your Business.  

Our range of services include, 

• Family Business Management – accounting, taxation & Business structure 

• Cashflow Management – tax minimization, superannuation & retirement planning 

• Business Development – expansion into new markets, development, communication & advice. 

And just as we are encouraged to undertake an annual health check-up your Business can also benefit from such an examination.  

Let us do what we do best, take care of Business matters so you can dedicate your time to taking care of the health needs of your clients.  

Contact Blackburn Accounting today and book your first consultation.