Medical Accounting for Healthcare Professionals in Camberwell

Safeguard and Grow Your Medical Business

Juggling financial management as a medical professional and business owner can be incredibly challenging. Without the right approach, you might overlook essential strategies that safeguard your financial future, potentially leading to late tax returns, missed salary packaging benefits, confusion over financial statements and tax laws, and setbacks in reaching your financial goals.

Having a financial advisor with expertise in the medical industry can make all the difference. Our team of medical accountants is well-versed in the specific financial needs of healthcare professionals. We provide a wide range of tailored accounting services designed to help medical practitioners achieve their desired financial outcomes.

Healthcare professionals play a vital role in our community. We are dedicated to helping those in the medical field reach their financial aspirations. That’s why we offer reliable, expert guidance in all areas of medical accounting.

Our director, Lawrie Carrozza, has a wealth of experience in providing medical accounting support. He assisted in creating a tax and wealth education program for medical professionals. This was first accredited with the Royal Australian College of General Practitioners (RACGP), earning doctors 40 CPD points for a one day course.

Lawrie also played a key role in designing an accredited course on tax and wealth creation for the following organisations and has been a speaker and presenter for them for close to three years:

1. RACGP – Royal Australian College of General Practitioners
2. ADIA – Australia Dental Institute Association
3. AAPM – Australian association of Practice Management
4. ACRRM – Australian College of Rural & Remote Medicine

How Can Medical Accounting Services Help?

No matter if you're just starting your medical career, have spent over a decade in the field, or now own a medical clinic or practice, having a knowledgeable and approachable team of medical accountants can greatly benefit your personal finances and business growth. Our advice is built on current industry insights and extensive experience, ensuring you receive clear, stress-free financial guidance.

Foresight Accounting specialises in the unique financial needs of medical professionals. We understand the challenges you face and the goals you strive for. From navigating tax laws, income tax, and superannuation obligations to managing cash flow and client billing, our expert team provides the tailored support you need.

Here are some key areas where we can offer our expertise:

• Developing the optimal tax structure, like family trusts, to enhance asset protection and financial security.
  
• Developing a tailored property trust for secure asset management.
  
• Understanding tax returns, tax deductions, and income distribution options available to contracting medical professionals.
  
• Maximising property and investment opportunities tailored for medical professionals.
  
• Supporting medical professionals in creating a self-managed superannuation fund and utilising it to grow a robust property investment portfolio.

Accounting services for medical practices must be tailored to the unique needs of the healthcare industry. Foresight provides expert support for clinics and practices in the following areas:

• Growing your practice’s revenue stream through strategic internet marketing.
  
• Attracting and recruiting doctors to grow your practice.
  
• Helping you access funding to purchase a practice or ownership shares in one.
  
• Helping you assess the true value of a practice or units in a practice before you buy.
  
• Undertaking valuation of the practice or the units you are selling.
  
• Guiding you on how to maximise the value of your medical practice.
  
• Medical practice benchmarks.
  
• Guiding you through the setup and integration of Xero bookkeeping for your medical practice.