Doctors, dentists and practice managers are being urged to get closer to the figures and become more business minded, in a bid to help them survive in a changing practice environment.
SFB partner Jon Sargent comments: “Doctors and Dentists face an everyday challenge to provide top notch patient care whilst also managing a complex business.
“The varied income sources, increases in competition being generated by the Department of Health, tax changes and the need to constantly try and find efficiencies in delivery means doctors need to be able to juggle their patients alongside their business and financial matters.”
Jon, who advises a number of practices across Warwickshire and the West Midlands, said: “We’ve witnessed a dramatic shift in the market place for medical practices. It is no longer sufficient for practice owners to have the right medical qualifications and experience. Business skills, in particular financial skills are absolutely crucial to survive and prosper in times when traditional income streams are under pressure.”
“Having looked after a number of medical clients for some time, we understand the market difficulties, recognise the opportunities and threats in their profession and know how best to adapt.
“The annual accounts are totally different from any other organisation and their income may depend on how they present their accounts. They really do need professional advisers are specialists. At SFB, we have helped a number of clients facing these new challenges, from those merging with other practices to those struggling to prepare reliable management information.
Doctors, dentists and practice managers facing these new business challenges can take advantage of our expertise by calling Jon Sargent on 024 7638 4171.
