Direction Accounting are passionate about advising Doctors, Dentists, Medical Specialists and other Allied Health Professionals in private practice. Direction Accounting also support health related businesses such as Home Nursing, Pharmacies and Veterinarians.
Many professionals in this space have undergone significant change over a number of years, the least of those being the impact on consolidation and corporatisation of what were previously family owned businesses.
For those that have remained independent in some form, it is critical to focus on how to achieve practice/business success and financial security by transitioning their business from ‘personal’ to ‘business’ goodwill.
To assist clients with this we work closely on the efficiency and management of your practice and help develop a business culture that is not ultimately attached to it’s owners.
In addition, Direction Accounting work closely with each Health specialisation and their own unique needs, whether that be handling growth, team culture (great medical businesses have large teams) or full utilisation of capacity.
Cashflow is always a major area for medical professionals, who are typically Asset Rich and debt laden. This can create a high level of professional anxiety when combined with the demands of their day to day professional duties.
Our team help put in place long term wealth plans for clients, ensuring that they apply a tax effective income to the right areas.
Correct Business Structuring taking into account both Risk and Tax factors is also critical, as is working collaboratively with their other advisors such as financial planners and lawyers.
If you are in the Health industry and need more than just the basic approach to your affairs, get in touch with Direction Accounting expert team now to get real clarity and direction on your affairs.