Managing your finances is essential for a viable practice
A medical practice is a business. Managing your finances is essential for a viable practice and for your career. Good practice management and good financial management underpin clinical excellence.
Sound financial management is a core requirement for all GPs.
Whether you are working for yourself, in a group or for someone else, understanding the basics of financial management is important.
If you are a practice owner or an associate GP your interests in financial management will generally be broader than if you work as an employee or an independent contractor. The structure of the practice will impact on your financial relationships.
Decisions regarding business and/or employment arrangements should take into consideration your individual circumstances and career plans.
Provided under licence
This resource is provided under licence by the RACGP. Full terms are available on the licence terms page.
In summary, you must not edit or adapt it or use it for any commercial purposes.
You must also acknowledge the RACGP as the owner.