5 Key Considerations When Starting Private Practice

Yves SchoofPrivate Practice

Over the last couple of years we have assisted various medical and dental clients with starting their private practice. While some have purchased an existing practice, just as many clients decided to go down the start-up route. Obviously, purchasing is really not an option for specialist physicians and surgeons. In this article I want to highlight 5 key considerations when … Read More

Private Practice Planning and Growth

Yves SchoofPrivate Practice

Private practice and wealth creation Going into private practice may be one of the best wealth creation strategies around, although it is obviously not for everyone. There are two main reasons why running your own private practice may be a wealth accelerator strategy: – it may increase your income-earning capacity significantly; – it may enable you to split income in … Read More

Medical Property Report

Yves SchoofPrivate Practice

While buying medical property can make sense for medical practitioners and their business, how does medical property perform as an addition to an investor’s property portfolio? As part of our collaborative series ‘Avoiding pitfalls & maximising opportunity when expanding your medical practice’, we examine the merits of medical property as an investment, how these sites perform long-term, what sort of … Read More

Buying Your Rooms Through Super

Yves SchoofPrivate Practice

Buying your rooms through super has become a very popular strategy among Medical Professionals, and it is not hard to see why. Under the right circumstances it can be an excellent wealth creation strategy. However, it can also be a rather complex arrangement and it is not necessarily right for every Medical Professional. As part of our collaborative series “Avoiding … Read More

Due Diligence When Buying A Practice

Yves SchoofPrivate Practice

As part of our collaborative series ‘Avoiding pitfalls & maximising opportunity when expanding your medical practice’, this week we present you with a look into the due diligence process before buying an existing practice. When buying or starting a new medical practice it is important to do your home work. It is important for anyone deciding to buy a business … Read More

How To Finance Your Private Practice

Yves SchoofPrivate Practice

Finance plays a vital role in every Medical Professional’s Private Practice, particularly if you are looking to grow your practice. Unfortunately, very few medical specialists appropriately plan their private practice finance requirements and funding mechanisms, which may slow down or restrict their expansion plans. As part of our collaborative series “Avoiding pitfalls & maximising opportunity when expanding your medical practice” … Read More

5 Key Areas Where Doctors Need To Spend Money To Make Money

Yves SchoofPrivate Practice

There is a saying that goes ‘you need to spend money to make money. There is definitely some truth in this, also for doctors. In this article we will look at 5 key areas where you as a doctor can make beneficial investments. 1) Education and training It goes without saying that as doctors specialise in a particular area, your … Read More

Kaizen And The Medical Practice

Yves SchoofPrivate Practice

In previous articles and podcasts we have talked about the importance of business planning for the medical practice. In today’s article I wanted to discuss a particular philosophy that may assist you in continuously enhancing the quality and efficiency within your medical practice. What is Kaizen? Kaizen is a Japanese principle, which can be loosely translated as ‘continuous improvement’. It … Read More

Do Doctors In Private Practice Share Dentists’ Business Concerns?

Yves SchoofPrivate Practice

A recent BOQ Specialist report into the dental industry highlights the main concerns Australian dentists have in the current climate. In this article I want to delve a bit deeper into those concerns and other points raised in the report, and relate it back to how Doctors in Private Practice might be experiencing the current environment. Dentists’ main business concerns … Read More