Ep55: Starting out in Private Practice

Applications for the podcast editorial group found at the following address until 1st March 2020. www.racp.edu.au/expressions-of-interest/pomegranate-health-podcast-editorial-group   
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This podcast is about one of many pathways in medicine; private practice. It’s a pathway that present many opportunities, but also personal and financial challenges. When doctors are  starting out in, they typically do so within the safety net of an established practice, and perhaps only for part of the working week. In a simple model, they would be renting a room in exchange for an agreed portion of the consultation fees, to cover administration costs.

The next level of complexity is setting up shop for oneself, and this requires registering a company in order to employ other staff. Finally, one can partner in a group practice, which may bring efficiencies of scale, but potentially also personality clashes with other shareholders.

And behind all of this, there is the need to build awareness and trust in the community.  In this podcast we hear from the experience a private rheumatologist of 25 years, as well as accounting and financial planning.

Guests
Dr Louis McGuigan FRACP (Consultant Rheumatologist, Miranda)
Paul Copeland (Director, William Buck Chartered Accountants)
Scott Montefiore (Managing Director Hillross Montefiore and Co.)

Audio appendix to this story at https://www.racp.edu.au/docs/default-source/pomappendix/racp-ep55-appendix.mp3

Claim CPD credits and find links to additional resources at www.racp.edu.au/podcast.