Starting a group practice with colleagues – National Webinar

It's increasingly common for specialists to join together in a group practice. The benefits of combined skills and financial resources can relieve the burden on individuals. However, group practice can be challenging without a plan or structure.

Learning Outcomes

• Considerations when joining or forming a group practice.
• Legal and taxation structures.
• Financial and business operating considerations, including insurances, billing and staff agreements.

The RACP Regional team has joined with the Professional Medical Practice, William Buck Business Advisory, Mahoney’s Lawyers and Medical & General Risk Solutions to provide expertise for this webinar. 

Topics Covered

Accounting

• Legal and taxation structures
• Financial and business operating considerations, including insurances, billing and staff agreements.

Legal Considerations and Strategies

• The agreement between the doctors
• A service agreement
• What to be aware of in commercial premises leases
• Your rights in a dispute

Financial Planning considerations

• Personal risk insurances
• Key Personal Insurance
• Syncing private practice structure with personal wealth structure and optimizing tax-effective flow of money
• How to structure investments and loans
• Superannuation
• Overall wealth structure
• End game - What are we working towards?

Insuring your practice

• Business, Cyber and Public Liability
• Typical Insurances required in Group Practice
• A worked example with a real quote case study

Q & A
The seminar provides practical information as well as a ‘question and answer’ session for College members.

Note: This webinar is geared towards Australian tax systems. Aotearoa New Zealand members who want to attend will be required to source alternative, local advice.

The College is recording Continuing Professional Development (CPD) activities for Fellow involvement in College organized CPD activities. We are pleased to confirm that webinar attendances will be recorded in your 2024 MyCPD summary by the College.

Register

Location

Online

Event partner – The Professional Medical Practice