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Benchmarking Your Practice Will Challenge You
To Think Outside The Square

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Finding new doctors opposites don't attract

As with any business, attracting the right staff is critical to success.

It stands to reason that quality doctors are drawn to quality practices. So the better your practice looks, the more likely you are to attract the best.

Benchmarking is an excellent tool for demonstrating to prospective doctors that yours is indeed a high performing, high quality practice. If it's a choice between two similar practices, one that meets or exceeds AMB standards and one that doesn't, the decision is an easy one to make.

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Buying or selling a practice where's the value?

The single biggest issue for any doctor buying or selling a practice is to establish its true value.

While the value of the physical premises and equipment is pretty straightforward to ascertain, putting a value on more intangible things like goodwill can be tricky.

AMB can help in this situation by providing a tangible measurement of the practice compared to other similar practices both locally and nationally.

That could give you an important edge in negotiations and deliver a better final outcome.

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Finding the key to productivity

Staff is the most important resource in any practice but also the hardest to manage. Getting staff levels and productivity right can make a huge difference to your bottom line results.

With AMB, you get all the data you need to make those crucial staffing decisions, from establishing the optimum number of FTEs to the most effective rostering.

This can have a profound impact not only on efficiency but on overall staff satisfaction, making it easier to attract and retain the best people.

Turning spare space into profit

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If a practice has spare space, such as a vacant consult room, the obvious solution is to get another doctor. But is that the best solution from a broader business point of view?

Perhaps you'd be better off renting the room to an allied health practitioner or pathology firm who'll not only give you a better return, but whose presence will add value to the overall practice.

AMB can help you make the cost/benefit analysis that helps you make the most of your spare space.

Supported by:

Cutcher & Neale Accounting and Financial Services

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