About The Course
Dive into the fundamentals of financial management for medical minds. This course provides an in-depth knowledge of healthcare accounting and proactive financial management to ensure your medical practice is financially healthy and compliant with tax regulations. Learn about money management tools and strategies, business structures for medical practices, corresponding tax and accounting obligations, and strategic accounting choices that can provide your practice significant long-term benefits.
Who Is This Course For?
This course is suitable for:
- Psychiatrists
- General Practitioners (GPs)
- Mental Health Nurse Practitioners (MHNPs)
- Psychologists
- Mental health professionals
- Clinicians working in or expanding into psychiatry and mental health care
Accreditation Information:
- Psychiatry Accreditation: This course is available for self-accreditation with the RANZCP and other relevant psychiatric and mental health organisations.
- GP Accreditation: This course is available for self-accreditation with RACGP for general practitioners.
What You'll Learn
- Differences between personal finances, investments and other money management strategies.
- Impact of different tax and healthcare accountancy-based decisions at different points in one’s career.
- Insights into the four different business structures and their wider implications.
- Recognise the importance of managing your financial affairs and reviewing them regularly.
Course Programme
1 Unit | 3 Modules | 2 hours total length
- Company Structures: Sole Trader, Family Trust, Partnership, Limited Company
- Expenses & Public vs Private Finances
- Principles of Wealth Building
Course Description
Finance and Healthcare Accounting for Clinicians, Simplified.
Financial Foundations for Medical Minds is a course that dives into the fundamentals of financial management for medical minds. Here, you’ll grasp the essential principles of financial management and bookkeeping for medical practices, focusing on healthcare accounting and its unique demands in the medical field.
This course is specifically tailored for medical clinicians, individuals embarking on a private practice, and other practitioners seeking to fortify your financial acumen. The course is structured to provide insights into accounting for doctors, emphasizing the importance of precise bookkeeping for medical practices. Meticulous bookkeeping for doctors and practitioners is crucial not just for regulatory compliance; it will also ensure the financial health of your practice.
We begin with the differences between personal finances, investments, and other money management strategies, dissecting how these can impact your financial planning, medical accounting, investment diversification, and even retirement.
We also explore the nuances of medical practice accounting, unraveling complex concepts and translating them into practical knowledge. We discuss the impact of different tax and accountancy-based decisions at different points of one’s career. You will explore how strategic choices in healthcare accounting can lead to significant long-term benefits – or pitfalls, if not carefully managed.
Furthermore, you’ll learn the four different business structures commonly used in medical practice financial management. This will give you a clear understanding of the various company types and tax structures available to them, as well as the wider implications of each.
Finally, this course emphasizes the importance of proactive financial management. Regular review and management of your financial affairs are crucial, and you’ll learn techniques in accounting for doctors to ensure your practice is financially healthy and compliant with tax regulations.
Financial Foundations for Medical Minds is more than just a course; it’s an investment in your future, equipping you with the healthcare accounting tools and knowledge necessary for a successful medical career.
Learn financial management for medical practices and grasp the essentials of healthcare accounting, money management tools, and tax and accounting obligations.
Course Information
- 2 hours
- 2 CPD
Inclusions
- 1.5 Hours of Video
- Self assessment activity
- Certificate of Completion
Material Downloads
- certificate
Instructors
Stephen Price Guest Speaker
Stephen Price is a financial adviser and founder of Integer Financial Group. Stephen holds a Bachelor of Commerce degree, Graduate Certificate in Applied Finance and has passed the FASEA Ethics exam. With over 15 years of experience providing specialist financial advice for medical professionals, Stephen has a keen focus on providing advice to doctors in the rural and remote communities of Australia.
Michael Peters Guest Speaker
Michael Peters has over 30 years of experience in public practice and ASX-listed companies, specializing in the medical industry and wealth management. Michael is a Fellow of Chartered Accountants Australia and New Zealand and completed a Bachelor of Commerce (Honours) at The University of NSW. Michael was originally qualified through Ernst and Young and PWC.
Dr. Sanil Rege Course Host | MBBS, MRCPsych, FRANZCP
Dr Sanil Rege is a highly qualified consultant psychiatrist and academic, with dual qualifications from the UK and Australia. He is a Fellow of the Royal Australian and New Zealand College of Psychiatrists and a Member of the Royal College of Psychiatrists (UK).
Dr Sanil has 20 years of clinical experience and 13 years of private practice experience, treating disorders across the full spectrum. He currently works in the community, across in-patient, consultation-liaison and addiction psychiatry spaces.
