Our specialisation in medical practices provides robust data to benchmark your medical practice effectively. We are excited to share the 2024 benchmarking insights revealed during our recent online event, exclusively for you and your medical practice. You are the first to witness this invaluable insider information, which includes: Measuring profit for medical practices Practical tips for setting accurate targets and budgets Key traits in profitable practices New benchmark data on practice running costs Don't miss out on gaining essential benchmarks and improving your practice's performance.

I had the opportunity to participate in the Digital Health Festival in Melbourne, and I'm excited to share insights and takeaways from the event. It is the only place where the entire health ecosystem meets with a focus on technology as a tool for enhanced patient outcomes and productivity. Recognised as Australia's premier health technology event, the Digital Health Festival attracts over 6,000 health leaders. It provides a dynamic platform for the exchange of innovative ideas and the formation of strategic partnerships. This collaborative group of health leaders meet to spark new ideas, form new partnerships, and, together, change the future of healthcare. The prevailing theme revolved around Generative AI. The applications of Generative AI spanned across various facets of healthcare, from patient segmentation to compassionate communication, making a substantial impact on the industry and its workflow. A particular highlight for me was witnessing a powerful affirmation from Danielle Bancroft of BP Software that "technology is not the problem." This resonated deeply with my own experiences, shunning the misconception that technology is the primary obstacle in healthcare advancements. Beneath the surface of the festival's content, I found invaluable connections and conversations with industry professionals, which underscored the true essence of the event - networking and sharing real-life experiences in healthcare. With the promise of new insights and strategies to bring back, I am eager to attend the Digital Health Festival again next year and share the learnings with both you and my clients over the coming months.

Well, it is that time of year again when you, our clients, get to leverage our depth of knowledge on all things tax for healthcare professionals. In this video, I give you some critical advice to ensure we give you the best advice for your situation.

The Touchstone General Practice Industry Report draws from benchmarking data spanning 811 practices across Australia, offering a comprehensive exploration of industry trends, including general practice benchmarks. Analysing factors like practice performance, billing methods, and patient experience, the report provides invaluable insights into the standards and performance metrics within the general practice landscape. Download the report below 👇. Cubiko has produced the 2023 Touchstone General Practice Industry Report, prepared for general informational purposes only and not intended to be relied upon as accounting, tax, or other professional advice.

In the first months of 2024, we have seen a sharp increase in demand for our advice and implementation services from practices wanting to take action and minimise payroll tax exposure risk. In this video, I talk about the latest QLD ruling (Feb 2024) and give an overview of the relief offered by various Australian states and territories. Is your practice ready to take action on payroll tax compliance and risk minimisation? If so, please get in touch with us to schedule a discovery meeting.

Many new clients to GrowthMD have made the change because they seek a more proactive and rewarding relationship with their accountant. What does a proactive relationship with your accountant look like? In this video, I take you step by step through our End of Financial Year client advice process - so you can see what a proactive relationship looks like and how it can benefit you and your business.

Common tax and accounting issues for the health industry that we commonly solve at GrowthMD: Late lodgments and poor record keeping - there is no excuse for this, and it is so easy to overcome! Non-compliance with tax legislation - medical professionals and businesses have extra considerations that many accountants overlook Related party loan issues - save yourself the heartache (and tax cost) and seek this out sooner rather than later Missing or incorrect deductions - nothing is worse than missing out on deductions because of poor planning or education. GrowthMD is a medical specialist accounting firm dedicated to working with medical practices and practitioners. We would love to talk to you about helping you with your taxes and lodgments in the future.

This festive season, we did something different at GrowthMD for our valued clients. 'Making a difference' and 'Well-being' are two of our core values, so we asked you to select a worthy cause that we could donate to on your behalf. Because of you, 744 impacts have been paid forward, and 744 smiles have been created around the world. Make sure to spread smiles; if you missed our email last year, please click here to select your gift from us. If you know someone needing a specialist accounting firm and would benefit from working with us at GrowthMD, we would love you to send us their details. To thank you, we will make an extra giving to your preferred charity.

I was featured in the latest HealthCert podcast with its founder, Paul Elmslie, on Australia's complex payroll tax implications for Doctors. Paul and I discuss: Some background on payroll tax, how it is calculated and who pays it. Why payroll tax is currently a hot topic. How payroll tax is impacting general practices in Australia. Potential consequences if practices don't get their affairs in order around payroll tax.

I was recently interviewed by Meryl Johnston, host of The Lifestyle Accountant Show. The podcast helps today’s accounting firm leaders build successful businesses while living healthy, happy lives. In this episode, I talk about: Studying the CA program, working and bringing up three kids The pros and cons of listing a minimum fee on the website Why you should ask leads, ‘What would you love your accountant to do for you? How to avoid giving free advice during the discovery process Whether to send proposals via email or go through them on a call How to keep clients ‘warm’ if they are waiting 3-4 months to be onboarded The impact on workflow and capacity planning after implementing a waitlist