GrowthMD urges all General Practice owners and managers to spend quality strategic time on their business. Now is the crucial time to have complete visibility into your changing practice operations. Along with traditional financial data, some areas to be actively managing are: ✅ Revenue and appointments per hour ✅ High care groups - appointment needs, scheduling and recalls ✅ Your changing volume of Telehealth items ✅ Doctor availability and appointment coverage ✅ Schedule based on demographics and isolation constraints GrowthMD is proud to work with Cubiko and their new release - Cubiko Assist. Cubiko Assist is an intelligent free tool available to help GP practices remain profitable and sustainable during this COVID-19 time of challenge. Please register your interest below or book a meeting with our team to discuss how the dashboard can be implemented as part of an overall smart management strategy. Register Here

Attention Health Practices. Does your practice work with practitioners via a service fee model? Remember that when calculating a 30% decline in turnover you will be considering: ✅Service fee income 🛑Not total doctor’s own patient billing Other important things of note with eligibility: PIP and incentive income is generally not included in turnover for the purposes of JobKeeper eligibility. Practices will have other income to include in their turnover test - Registrar income, rent etc. Complete your review of eligibility carefully and with a great accountant to help. Final legislation details coming next week.

Today Prime Minister Scott Morrison announced the JobKeeper payment, designed to keep employees connected to employers during this health and economic time of crisis. The JobKeeper payments are administered via employers through the normal payroll process, not via Centrelink. This announcement still requires legislation to be enacted, however, we do have information to share as at 30 March 2020. JobKeeper Payment Applies to: Eligible employers and sole traders Eligible Businesses: Those currently experiencing at least a 30% decline in turnover (relative to a comparable period last year) Amount of payment: $1,500 per fortnight per eligible employee (or eligible sole trader) for six months Eligible employees: Full or permanent part-time staff, the casual staff you have employed for a minimum of 12 months, provided they were employed on 1 March 2020. Employees recently stood down may also be eligible. Think you may be eligible for a JobKeeper Payment? Register a phone call with our team here: https://calendly.com/growthmd/15 Subscribe to the ATO alerts: https://www.ato.gov.au/Job-keeper-payment/ As always our team are here to support you during this time.

Health businesses are busy gearing up for operational challenges in consulting with patients over the coming months. Practices need to also plan for business disruption within their internal workforce. What tools should can implemented now to ensure that financial and administrative tasks can continue efficiently? Our GrowthMD clients regularly work with: Tanda: #1 Workforce Success Platform Xero Practice Protect Zoom Video Communications Slack Receipt Bank Need help? Book a discovery meeting here.

Key Learning: ✅What is Personal Services Income? ✅Can I pay a salary to my spouse or family member? ✅Can my trust distribute income to my spouse and kids to save tax? ✅What are the ATO audit risk areas? Book a discovery call with Kelly.

It doesn't matter how long you have been in business; there can always be a crisis. Business is rarely "set and forget". In the early years, the crisis is often viability and cash flow. In the maturity phase, the crisis may be exit and succession. A skilled business accountant will aim to smooth the crisis points at, and between each stage, done with collaboration and planning. Seeing your accountant once a year at tax time won't cut the mustard when it comes to navigating a small business. No matter what your stage in business be sure those lines of communication with your accountant are happening. Check out my previous blog on tax strategy vs business strategy.

Recent cases in NSW and VIC have renewed the focus on payroll tax and health practitioner payments. At GrowthMD, we are advising health practices to not only focus on the future impacts of these case decisions but also review the practice's current risk profile toward payroll tax. Here are some of our tips on getting the basics right.

Our video content for the medical industry had been watched more than 200,000 times in 2019. We love making videos for you; however, it doesn’t always go to plan as you see in this collation. See you in 2020.

One of our core values at GrowthMD is that we have relevance, purpose and meaning with our clients. On behalf of the team at GrowthMD, I wish you all a safe and peaceful festive period. To our valued clients, thank you for being part of this giving story.

It was great to present to Australian General Practice Alliance members from all over Australia on the hot topic of payroll tax risk areas for general practice. Great engagement and questions from the attendees. My co-host representing the legal view was Rod Felmingham. AGPA members can view the full webinar online.