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This is a guest post by Medigrow – Finance & Business Education

We are constantly surprised by two things when we deliver CPD education to Doctors all around Australia:

1) How truly altruistic and caring Doctors are;

2) How little most practitioners know about the business aspects of running a practice.

Let me explain. More than three years ago a Brazilian businessman was invited to address a large gathering of doctors in Sydney. The topic was wealth generation strategies and entrepreneurial idealism. Julio De Laffitte had gained a great deal of attention in the media for his vision and bold statements on Australia’s economy and the benefits of individual retirement planning.

During question time Julio was asked a question around finance and lending which surprised him.

“I was asked what a mortgage offset account was. I couldn’t believe that such an intelligent person did not know the basics of finance and how much money they could save with a few tips.”

Soon after MediGrow was born and Julio’s company JDL strategies became a partner in the process.

Essential business skills for new GPs

It goes without saying that medical practitioners spend a great deal of time and money on their education. By the time they treat their first patient they’ve already spent years studying. But who teaches GPs the basics about:

  • How to run a practice?
  • How best to communicate with a patient and staff?
  • How to safely take and store private information?
  • Or even how to lawfully advertise their practice and use Facebook without falling foul of the law?

We know that some subjects are touched on during all those years of study, but understandably clinical education is paramount.

What can often be overlooked is the need to have some basic accounting, marketing, communication, taxation, social media, and financial skills.

Such competencies are fundamental to all business professionals, and GPs need additional knowledge if they want to operate a practice, minimise their tax and maximise the profitability of what they do.

Established GPs may also require updated knowledge

Doctors who have been practising for many years can often become set in their ways. Yet their methods may not always align with the latest financial regulations. Many a light-bulb moment has followed a brief but feisty clash with our course educators over ‘the textbook way’ versus ‘the way it happens in their practice’.

The need to continually keep business management knowledge up-to-date is key to ensuring your practice is running in the most efficient and compliant manner.

“I wish I’d attended a workshop like this 10 years ago”

The above comment was feedback from an attendee at our recent Sydney workshop. Here’s what other attendees had to say about the experience:

  • “Great day, very well presented!”
  • “Very effective and entertaining – wonderful event”
  • “Very well presented, comprehensive and informative”

It’s never too late to start learning. Medigrow holds CPD courses for Doctors, Practice Managers, Nurses, AEPs and Dentists across the country.

Upcoming Business Accelerator Program events are being held in:

  • Melbourne – 18th November
  • Perth – 9th December
  • Brisbane – 9th December

If you are interested in attending, head to to find out more and register.

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