General practice tool kit
Your practice finances
Last revised: 29 May 2025
Regardless of the quality of the healthcare services it provides, a general practice needs to properly manage its finances if it does not want to find itself in trouble. Financial issues can also cause significant personal and professional stress. Despite their high earning potential, many doctors experience financial difficulties that can range from an inadequate cash flow to large financial losses, and even bankruptcy.
Focussing on your financial success and your practice’s sustainability, the information in this module helps you to:
While good financial management can help you achieve your financial and professional goals, poor decisions relating to financial management can have serious consequences, which is why it’s essential that you seek sound professional financial advice (eg from an accountant, financial advisor, lawyer).
The information in this module provides general guidance only so you can be better informed when you talk with your professional advisors.
The RACGP does not accept any responsibility for reliance upon the contents of this toolkit.
Learn how to set up a bookkeeping system, manage your cash flow and prepare for tax time.
Services Australia – Services, payments and programs if you’re a GP.
Did you know you can now log your CPD with a click of a button?
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