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Gday

Has anyone experience of expected setup costs and ongoings for a private practice in Australia...? Any advice greatly appreciated.

Cheers

 

Talk to the Australin Podiatry Council. They did a survey of private practice costs some 6-7 yrs ago which was quite comprehensive. The Vic Assoc also developed guidelines of fee setting that was based on establishing clinic costs.

Realistically you would need capital of $20-$30,000 for all equipment, but it could be leased, $2-$3000 for stock, then some money to live on while the business developed. 40%-60% of gross income will be required to run the business.

 

Thanks tuckersm. Helpful :)

 

Dear Camo,
As a starting point, 20K will buy you a good start up package of equipment. Obviously on top of this you need to consider rent ( and possible fit out costs), licences, insurances and marketing costs. Professional service fees for your accountant and/or solicitor can be considerable in the start up phase as well.
Good luck

 

drill 1400 pounds trolley 400 stock 500 disposable instruments 500 rent a room from gp 50 quid for session away you go. just done it start in 2 weeks 3 months of appts already fully booked. keep doing it till retirement 2022.dont need an accountant untill end of year mine costs 350 pounds. ps room comes with light and plinth couch, cleaning lighting heating incuded in rent as well as receptionists. wish i had done this 30 years ago its simpler than i thought. although this is a uk example im sure it could be copied in a much nicer climate. ps pick a large gp practice 10 doctors with 20 000 pts this helps

 

Hi Camo, what is your goal? Are you setting up a toe nail cutting clinic? What is your alignment? What are you building? Once you know this, then you can work backwards to figure out what costs are. If a business owner starts building the foundation of a business with no idea what it looks like, many years can pass while we wonder where we are going?
Running a biz? Or working on a biz? Unique selling point? Is it a glorified job? What CRM? Who is your ideal client? Marketing strategy's? Financial advice/tracking?
Hmmm where to start? Oh yeh what are the costs of what?

Good luck

 

Can you recommend a company to lease equipment from in Australia?

 

Try these guys an off shot of NAB but seperate entity,
Pretty helpful and holistic

 

I'm struggling to find the link that you mentioned. Please can you try again?

 

http://www.medfin.com.au/?gclid=Cjw...VcidvVgvdifm2hyDYd6OJoDwj-lj1w15zVxoCoY3w_wcB

 

Hi Camo - Have you considered what type of software you'll need to manage your patient records, appointments & billing?

There are two styles of software: on-site server based; and cloud/web/online based.

The start-up costs between these two types can be quite significant. For instance, on-site server based software often require lots of specialised hardware (like servers for hosting your database), IT security & database back-up systems. In my experience I've known practice managers who've needed to contract in an I.T. company to help manage & maintain these on-site systems. So that's an additional cost.

The alternative, cloud-based systems like coreplus, take care of all the hosting, security & back-ups for you. Plus you won't necessarily need an I.T. company - as long as you know how to set up an internet connection & use a web browser. You could be saving thousands of dollars in those early stages of setting up your practice.

A question for you... will you be going off-site to deliver your services? I know in today's climate of an ageing population in Australia, allied health practitioners who can get mobile & go to the patient (rather than the patient coming to them) can often have an advantage over their competition; being able to significantly increase their patient-base. In this scenario - an on-site server software solution can introduce lots of administrative overheads; like taking notes by hand when visiting a patient, then having to do a bulk load of data-entry to keep the electronic patient record up to date.

Realistically, using a cloud-based system can save you a lot of time & effort when you're treating patients remotely. Allowing you to manage your patient records, and easily book follow-up appointments, right there, on-the-spot, from an internet-connected mobile device (such as a tablet, a smartphone, or even a laptop with a 4G USB dongle). Because all you need to log in to your software is a web browser & an internet connection.

I hope this has been able to shed some light on some costs that can often go overlooked when starting a practice.

I wish you all the best in your endeavour! Practice happy!

 

Though I'm not certain wha the start up costs may be in Australia, I do know that you need a good podiatry billing software for your practice. TRakNet can you help you there. Our software offers comprehensive podiatry billing, ICD 9 to ICD 10 conversion tools and more.