If you are a shareholder or owner in a medical practice, it is vital to have an exit or succession plan. At some point you will either retire, or sell your share of the practice. To ensure you can hit your target exit date and cash out with an excellent valuation, a strategic approach is required.

Whether you are a trainee physician approaching the transition to becoming a GP, or a practice owner or manager looking to bring on a newly fellowed GP, we wish to draw your attention to some important considerations for both trainee doctors and employers. In this ‘tips for new doctors and the practices hiring them’ article, we’re going to focus on a key element of the process – the way in which a doctor is engaged in a practice or stepping out on their own.

Whether you are a trainee physician approaching the transition to becoming a GP, or a practice owner or manager looking to bring on a newly fellowed GP, we wish to draw your attention to some important considerations for both trainee doctors and employers. In this ‘tips for new doctors and the practices hiring them’ article, we’re going to focus on a key element of the process – the way in which a doctor is engaged in a practice or stepping out on their own.

Whether you are a practice manager, a doctor or owner of a medical practice or an advisor, when it comes to introducing new software or technology into a practice, there is much to consider. As technology has become an increasingly prominent part of our daily lives, it is unsurprising that it has well and truly made its way into the healthcare setting. This has resulted in an unprecedented amount of information about patients being put into easy to access places, such as cloud-based services.

In a time when social media is a large part of how we learn about anyone or anything, it is understandable that social media is one of the first avenues that come to mind when looking to drive awareness of your business and attract new patients. If you’re reading this as an owner of a practice, a practice manager or anyone who has put their hand up to either run the social media in-house or outsource it, this topic has been written specifically for you. What is the key takeaway I want you to have from reading this? That social media for medical practices of any kind must be approached cautiously.

If you are thinking about buying a medical practice in Australia, you will know that it is a big step, particularly if this is your first practice purchase.

The ‘employee vs contractor’ distinction has always been a complex one – and the High Court has traditionally emphasised the importance of using a multi-factorial approach that focuses on the ‘totality of the relationship’.

There are many reasons why people look to sell their medical practice. Perhaps it’s because you have been approached by an interested party, or maybe you are looking to retire sometime in the future and want to be prepared. Otherwise, with the backdrop of the pandemic, we have seen that many doctors simply wish to concentrate on being a doctor. They are looking to move forward in their career without the additional pressure of being a practice owner and all that comes with it