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The Practice Incentives Program (PIP) is a government initiative aimed at supporting and improving the delivery of primary health care services in Australia. The program provides financial incentives to eligible health care providers, such as general practitioners, practice nurses, and Aboriginal and Torres Strait Islander health workers,
When it comes to selling a business, there are many factors to consider and negotiations to be had. One important document that can help streamline the process is a term sheet. Term sheets are an essential part of the process of buying or selling a business. They outline the terms and conditions of a proposed deal and serve as a starting point for negotiations.
Read MoreThe Optus and Medibank data breaches have got every business owner hyper aware of cybersecurity threats in all industries. Given the nature of the healthcare, cybersecurity poses unique fears and challenges for medical practice owners. The vast quantities of sensitive information in healthcare and potentially devastating effects that cyber-attacks can have on patient privacy makes the healthcare sector especially vulnerable
Read MoreAround one in four employees work as ‘casuals’ in Australia. As you would very likely be aware by now, the 2021 amendments to the Fair Work Act brought about various changes regarding casual employment in Australia, including a new definition of casual, a protection for employers who misclassify workers and new obligations on employers including the requirement to provide a Casual Employment Information
Read MoreHave you been affected by the shortage of skilled workers as a medical practice? Of course you have, you are in Australia and its 2022! Many businesses are finding it very challenging to find staff after the pandemic for various reasons. One possible solution that you may have considered is retaining international talent. Employing foreign workers in a medical practice allows practices and their patients to benefit from experienced international staff and their varying skill sets.
Read MoreThe 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.
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