Your practice may be running efficiently and cost-effectively, but in today’s fast-moving world, you cannot afford to stand still.
The leaders of doctors’ practices need to have the best possible understanding of their operations, to inform decision-making for the short and longer-term, and access to expert advice to help them plan for significant changes, such as transferring to a more appropriate business structure or investing in expansion or development.
At Haslers accountants and business advisers in East London and Essex, we can provide comprehensive support on practice development issues.
We will help you to step back from the clinical aspects of your practice and look at the other financial and non-financial matters underpin its operation, drawing on our experience of working with a wide range of medical enterprises to identify opportunities to increase efficiency and ultimately improve profitability.
For example, we can advise on tax-efficient business structures for GP practices, including the advantages and disadvantages of limited liability partnerships (LLPs) or a company structure.
We can also advise on related issues, such as assessing on whether taking on new profit-sharing partners or salaried GPs is right for your practice and on partnership agreements.
Our understanding of practice funding and financial issues enables us to look at expenditure, identify areas where your practice is under-performing and suggest solutions to improve financial efficiency and profitability.
Our expertise in corporate finance work means we are also ideally placed to advise on raising money for expansion and development and on practice acquisitions and sales and related issues, including valuations and goodwill.
To find out more about Haslers’ East London and Essex-based accountancy, tax and business advisory services for doctors, or to arrange a free financial health check, please contact us.