March 2015

Less Pain if you Restructure your Practice Now!

Five simple reasons why practices should restructure now before it becomes a more expensive headache!

(For a positive restructuring experience before 1st July contact David Dahm at pa@healthandlife.com.au or 1800 077 222).

1. Significant health reform will affect everyone.  The government is proposing to extend the Medicare freeze for another four years but they have offered a lifeline. For specific ways to address this issue, read below (10 immediate benefits of a practice restructure).
2. To survive, practices need to become more focused on solving the right problem and/or seizing the right opportunities.
3. The workforce surplus is a missed opportunity.
4. Your practice may be suffering from lower profitability, staff morale, burnout, litigation and/or no future-proof strategy. You could be throwing away good money and time on poorly researched or executed ideas, or even the wrong kind of advice.
5. The best and cheapest time to restructure is now, *before 1st July.

Running a successful practice is about you having control over doing the right thing, the right way, all of the time. It is time to stop worrying. Take charge and control of what you can. Keep reading to find out more. 10 Immediate Benefits of a Practice Restructure Health and Life clients who have completed a successful restructure and received our ongoing support have enjoyed*. If you don’t believe us, every point below provides evidence of what we and your practice can achieve as a team:

1. A greater focus on patient satisfaction and development of their clinical services that patients are prepared to pay for because it meets their needs more efficiently and effectively;
2. The skills to make better decisions faster;
3. Greater financial literacy and increased profitability of up to $56,000 per annum per full time equivalent provider;
4. The ability to work on, and not just in the business. This empowers your staff and the practice to grow organically and develop to their full potential;
5. Having a strategy that is more focused on “earn while you sleep” instead of “eat what you kill” income, which makes your practice more valuable when there comes a time to sell;
6. An ability to profitably sell their practice. On average a 10% interest in their practice can sell for up to $300,000, with a 30% p.a. return on investment after restructure;
7. Excellent passive income i.e. our unique market intelligence helps you achieve the highest market value and best terms and conditions for consumables, pharmacy, pathology and allied rents that are legal, ethical and sustainable;
8. A significantly lower level of industrial disputes, employee on-costs and compliance from payroll tax, employee super, WorkCover, Independent Contractor Act, Fair Work, and other employer legal obligations;
9. The best asset protection structure so you can sleep well; and
10. The best structures that reduce a tax bill by up to $20,000 p.a per full time equivalent provider.

*These are the average results of our clients who have successfully implemented all elements of our restructuring program. Results may vary more favourably depending on the size and nature of each practice. In this sample, the average practice fee income ranges from a $1.5m to a $10m p.a. No job is too big or small to receive these benefits. From 25 years of national experience on tried and tested ideas that actually work, you too can achieve and enjoy the piece of mind these benefits can bring to you and the practice.

Our Promise

Our benefit to you must significantly exceed your investment in us. Our guarantee is if we both believe we can increase your income and/or reduce your risks, we will work for you. Pre-approved affordable finance is available if necessary to practices who would like to know more.

Why is it critical to restructure right now?

Setting up new systems, training and business structures takes time. The cost benefits of restructuring are immediate upon implementation. To avoid duplicating external accounting and administrative costs, completing this work before the end of the financial year will save you significant amounts of money and time. Wherever you are in Australia, contact us now at pa@healthandlife.com.au or 1800 077 222 for an obligation free assessment with our principal adviser and Founder David Dahm, to see if we can help you achieve your practice agreement and arrangement goals. For more information about us, visit www.healthandlife.com.au. For over 25 years, across Australia, we have worked with over 1200 practices like yours. We understand your practice and your industry. We do more than just your tax return. Ultimately we are about ensuring you have financial security. Click here more information about the restructuring time table.

A final thought for the day: