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The conviction of Elizabeth Holmes, former Theranos CEO and founder, a MedTech Entrepreneur, has highlighted some issues about starting up in the MedTech industry and some important lessons can be learnt from it. In this article, we discuss what MedTech in Australia can learn from this fascinating governance story.
Read MoreIt is now quite common to have physical therapists, osteopaths, chiropractors, massage therapists, and increasingly psychologists, operating within a medical practice’s walls. In specialty practices such as a paediatrician or an obstetrician, they may consider adding a lactation specialist to their practice for their nursing mothers or other additional care opportunities for their patients.
Read MoreA medical practice manager often wears many hats. Depending on the practice size and owner involvement, a practice manager can be the equivalent of a Chief Executive Officer, Director, Executive Director, Chief Operating Officer or Business Manager. In many settings they will be the one person who is aware and alert to all of the key components involved in running the practice, both internally and patient-facing.
Read MoreTo explain the key indicators of a successful practice, I wish to draw focus to a clear parallel. You know a lot about healing patients and keeping them as healthy as possible, but you also need to keep your medical practice healthy. The most profitable medical practices have a lot in common, and one of those common areas is that they take both the health of their patients and their business very seriously. To better clarify the connection, consider preventative care. Patients need this kind of care to stay strong and healthy, and so does your medical practice.
Read MoreAnother medical practice fought its battle ALONE and lost it!Dr Thomas, who runs three practices in Sydney, has lost an appeal recently with the state and owes almost $800K due to payments made to the doctors being deemed by the Tribunal as assessable for Payroll Tax under a “Relevant Contract."The GP practice believed that the decision could be countered because its contracts were not “relevant” under payroll tax law.You Legal believed that this decision should be learned to all the medical practice owners out there.An adverse Payroll Tax finding can be costly for any business. To reduce the risk of such a finding, it is essential to undertake a thorough review of any independent contractor arrangements. Continue reading to find out more!
Read MoreThere is no doubt that many of us throughout the pandemic have spent more time looking at ourselves and our reflections than at any other time in our lives. As many of us increased our use of online meeting programs such as Zoom and Microsoft Teams to continue to run our practices and stay connected, this has also meant many of us have been, potentially only subconsciously, looking at ourselves and becoming more aware of our appearance. Covid-19 has been said to have created a ‘zoom-boom’, as this increased use of Zoom and similar products has been said to have increased the demand for plastic surgery and injectables around the world.
Read MoreIs advertising in doctors’ waiting rooms allowed? The short answer is yes.
As a healthcare provider, you potentially have great influence over your patients. They look to you for decisions that are important to their health and well-being, and that responsibility extends to the practice as a whole. Generally speaking, we observe that people fall into one of two camps in relation to advertising within a practice. Either they are very cautious and only share government-issued information, or they value drawing awareness to other health and wellness offerings within the practice. For the latter, it is for the betterment of their patients’ optimal health and also to optimise a practice’s profitability.
Read MoreThe policies, agreements and processes that contribute to a compliant medical clinic setup are often the least exciting parts of opening a clinic; however, they are incredibly important to ensure a smooth start.
If areas are overlooked, the impact can be felt in both the short term and the long term. For some practices, this results in a delay in the opening date, or a rush to get the compliance elements in place in time. It also creates additional pressure for everyone, especially when your new team will need some time to become familiar with your policies and the practice’s obligations and expectations.
Read MoreThe National Boards and AHPRA have jointly revised the guidelines for advertising a regulated health service.
The revised guidelines took effect on 14 December 2020.
We have reviewed the revised guidelines and can inform you that they are very similar to those previously in effect.
However, there have been changes regarding:
the evidence required for claims about the effectiveness of a regulated health service and what is acceptable evidence; and testimonials, protected titles and claims about qualifications etc.
