This tool is the Plan-Do-Check-Act cycle. It streamlines the idea creation-to-execution process by making sure that your management team aren’t swamped by too many projects at any one time. All projects are run through this tool and only once this is complete can they be moved into the 2-5 year strategic planning cycle below:
Consultants for Medical Practice Owners
Medical Practice Advisory
Medical practice consultants with an emphasis on patient experience, and financial optimisation strategy. Our expert team covers all bases to take your practice to the next level.
Proven Solutions and Support for Your Practice
The quality of service that your practice is able to provide to your patients is your highest priority. We know that in order to provide the highest quality, you must first provide the ideal environment both patients and staff. This starts with a solid business model, with the right accounting, legal and insurance systems in place.
Nitschke Nancarrow’s private practice consultation team, headed by director Kym Nitschke, provides a holistic approach to the business of running a practice. Our dedicated practice management staff provide a complete package including all of the practical services required to run a profitable, high-quality practice that exceeds clients expectations.
Services We Offer:
We provide tailor made solutions to suit your practice or healthcare service.
The backbone of your private practice management system
Practice Business Structure & Planning
Business Models, Planning Resources and Staff Management
Behind every great practice, is a great business model. Set yourself apart from the competition by providing the best service, using the best systems.
New Practice Establishment
Nitschke Nancarrow can assist and manage all of the administrative aspects associated with starting up your new practice. We implement strategic policy solutions, staff recruitment and staff training systems. We take the stress out of the financial implications that come with a new practice start-up, so that your finances take off on the right foot. This frees you up to focus on providing a service to your new patients
Benchmarking
Once a business plan has been implemented, it is time to complete short term goals. This is done through bench marking against industry leaders to see where your practice stacks up in specific areas, and what can be done to achieve similar results. Comparisons to world class industry leaders using critical analysis of budgets, costings, product value and more, allows us to fast track the performance potential by scaling up your strengths and improving weaknesses.
Established Practices
Nitschke Nancarrow service all established GP and specialist medical practices, on an on-call basis, or for on-going practice management support. Our team provide on-site and remote assistance to address any issues or challenges that may arise in the daily running of your practice. By providing continual support that compliments our more formal monthly and quarterly reviews we work together to improve workplace productivity, staff satisfaction and workflow solutions.
HR and Recruitment
We have a long history of proving an exceptional service when it comes to sourcing new staff and making the integration into your practice a seamless experience every time. From professional medical and nursing staff to admin and beyond, we utilise tried and trusted methods for getting you the right people. We guide you through the required employment documentation process swiftly, providing a streamlined and positive integration process for all new staff members.
Quarterly Performance Review
We maintain a 24/7 support service for all medical practices that we work with, and this is manifested into a quarterly assessment of your practice’s KPI (Key Performance Indicators). It is important to set these KPI’s and to continuously monitor them to keep your business moving forward. All staff should be aware of their expectations in the practice, so that productivity and job satisfaction are high, which provides a better service for all staff and patients.
Administration Software
The biggest challenge that most medical practices face is an inability to reconcile bank statements efficiently and record all transactions. We use the latest digital software technology to streamline this process, so that your financial records are securely and automatically updated.
Developing a Business Plan for your Practice
When running any business, it can be a little daunting to stay on top of all of the projects that may be underway at any one time. This is especially true in healthcare and in private practice. Our range of easy-to-use templates will keep everyone in your practice up to date with the latest developments, allowing you to reach your goals more effectively and improve communication across the business.
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PDCA Cycle
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Step 1: Strategic Planning Blueprint (2-5 Year Plan)
This tool outlines a comprehensive plan of where you want your practice to be in the next 5 years, and the steps that need to be taken to get there. This tool inspires high level goal-setting and these goals are reached by following up on ideas using the operating plan in step 2.
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Step 2: Operating Plan (12 month)
Using content from the Strategic Planning template above, we can specify on what needs to be done in the next 12 years to ensure that goals are met to grow your practice at an exponential rate. This usually involves 3-4 major projects to be completed over the year. We harness this data to be used in monthly and annual budgeting programs.
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Step 3: Dashboard (Monthly Monitoring)
Using the operating plan as the template, this is a monthly report that is used to identify whether the practice is hitting pre-defined budgeting targets.
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Step 4: Meeting Agenda
This is a tool that holds all parties involved accountable for executing their weekly tasks and hitting their KPI’s . By assigning specific roles in the practice, and putting it in writing, employees are more likely to be successful in their roles.
The best financial future for your practice
Practice Finances & Accounting
We provide specialised tax structures and accounting services for Medical Practices
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Payroll Processing & Monthly Billing
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Xero Monthly Accounts
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Quarterly BAS Preparation and Lodgements
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Annual Tax Return Preparation and Lodgements
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Annual Financial Statements
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Revenue/Cash Flow Analysis
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Monthly CFO Advisory Call
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Annual Tax Planning
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Strategic Tax Planning Reviews
Simplify the process
Practice Agreement Templates
Systems to remove the stress from practice agreements
For years we have seen the many different opinions and approaches to handling legal and accounting matters within the health industry. While the health sector continues to evolve, and government programs are ever-changing, the fundamentals have become crystal clear to us. We have followed every step of the journey with our clients and have progressively developed the optimum tax and legal structure. Asset protection, investment and taxation are our priority to provide the best for our clients and their families.
Agreements:
We happily assess prospective clients current agreement templates, to provide a free no obligation consultation. By sending us your current agreement templates, we can highlight any areas that could use improvement. Send us your agreements or simply contact us at admin@nitschkenancarrow.com.au
Our confidential second opinion can ensure that your current advisers are providing you with the best service at the best price.
Our useful templates can be used by any practice to suit their requirements. Having structures in place when making business decisions makes it far easier to execute effectively, and eliminates any grey areas when it comes to decision making.
*As we are not lawyers you must seek legal advice when using our templates.
- Estate Planning
- Merger/Succession Planning
- Acquisitions
- Asset Purchase
- Staff Employment
Please contact us for more information about our Practice Agreement Templates