Operating a successful practice requires business acumen
Medical practices operate within a legal and regulatory framework. This framework determines how parties within a practice relate to each other, as well as their external legal, financial and taxation responsibilities.
The operating environment for a business changes over time and the structures developed on earlier professional advice will not always necessarily be the most effective way to operate a medical practice. A periodic review is appropriate and this may occur when a new doctor joins the practice.
Operating a successful general practice requires business acumen. While applying business-thinking to practice may not always feel comfortable for doctors, failure to do so is likely to impact on performance, sustainability, personal and financial rewards, and ultimately results in poorer health outcomes for patients and communities.
This guide is intended to provide an overview of business structures and contractual arrangements available to GPs as business owners.
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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.
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