At The Private Practice, we are now in our 10th year of travelling around the country, and overseas, delivering education on business, financial and lifestyle management to healthcare professionals – and, without fail, at every single course, workshop or seminar, the most often asked question (usually during the relative privacy of afternoon tea) is “how do I chose the right advisers for me?”

My answer is always that first and foremost you must accept the responsibility of lifting your level of knowledge so that you can make informed decisions around business and financial matters.

Second, you must commit to an ongoing journey of education – much as you have regarding your clinical knowledge.

Now, armed with a better understanding of some basic, sound principles you can go about interviewing qualified professionals for the position of adviser on your team – better able to choose from the solutions presented, those that best suit your circumstances and profile.

Your team should include an accountant, a financial adviser, a financier, a lawyer, a practice management consultant, an insurance broker, a marketing consultant, an IT consultant and perhaps a billing consultant.

Of course there are many more relevant disciplines and professionals providing products and services representing subsections of the above.

Each adviser should be at the top of their game, have considerable expertise and experience in working with healthcare professionals, offer non-conflicted advice (ie not be owned by a product provider eg financial advice from a bank) and, in my opinion, not represent a conflict of interest by providing a multi-disciplined service eg accountants, financiers, financial advisers all under the one roof.

Whilst organisations like ours can provide referrals to endorsed practitioners in each of the disciplines important to you, the first step must always be improving your knowledge – in that way you can make a judgement call based on significantly more than just blind faith.

The Private Practice Education Program and Resources have been designed to provide non-conflicted comprehensive, healthcare-specific training and facilitation in all aspects of business, financial and lifestyle management.

For an outline of how The Private Practice can help you please follow the link below and feel free to contact me to discuss your educational, business, financial and lifestyle planning needs.

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