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Cash isn't just king; it's the lifeblood of your franchise. In a world where cash flow can make or break your business, understanding how to hold onto it isn't just smart—it's crucial. This article cuts through the noise to bring you straightforward, effective strategies for cash conservation, directly impacting your franchise's ability to survive, adapt, and flourish.
With older generations of doctors feeling burnt out and fewer junior doctors and graduates opting into general practice, we are amidst the beginning of a talent crisis that will only see the cost of recruiting quality practitioners go up. To ensure practices remain competitive, principals and practice managers will have to drive effective change that supports practitioner retention and improves practice productivity.
The subsequent payroll tax rulings released in August by the NSW and VIC state revenue authorities haven't just stirred the waters, but have, in many ways, sent waves crashing onto the shores of many medical practices. While the full spectrum of implications from these rulings is yet to be deciphered, one thing is crystal clear - there is a pressing need for medical practices to revisit and revamp their accounting and financial structures.
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