Cash flow is the oxygen of business. The more effectively you manage it, the more successful and profitable your practice will be.
18 October 2016
Health practitioners reported positive business conditions (+38) in the last 6 months, led by strong sales and profits. The impact on staffing levels from very strong trading conditions was also positive. Overall, business conditions for health practitioners were stronger than the broader economy based on the Q2 NAB Quarterly Business Survey (+9, n.s.a.*)
The NAB Health Practitioners’ Sentiment survey is designed to gauge how medical practitioners feel about the prospects for their business and industry. It aims to uncover the concerns of practitioners in the industry and highlight any changes they have identified in the sector.
Broadly those surveyed indicated that even their most identified constraint, Government Policy as minor. However by modality, GPs rated this as a significant constraint.
Practitioners see the digitisation of their sector and payments as having a strong impact on their sector, and changes to Medicare rebates as a negative.
While all practitioners ranked patient recommendations as the most “significant” growth driver, GPs were much more positive than the other modes on bulk billing as a growth driver.
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This document has been prepared by National Australia Bank Limited ABN 12 004 044 937 AFSL 230686 (“NAB”). Any advice contained in this document has been prepared without taking into account your objectives, financial situation or needs. Before acting on any advice in this document, NAB recommends that you consider whether the advice is appropriate for your circumstances.