Category: accounting

Award rates changes

On 1 July 2018, the minimum wage in the Health Professionals and Support Services Award 2010 increased by 3.5%.

What does this mean to you?
For any practice that has employees covered by the Health Professionals and Support Services Award 2010 and are paying at or close to the minimum wage under the award, it is important to review and increase the employee’s minimum wages. It is crucial that practices increase staff pay, if they receive award wages, by the 3.5%, with weekly wages rounded to the nearest 10 cents.

Out of Pocket Fees – A hot topic

Out of pocket fees charged by Specialists continues to be a hot topic in the media in recent times. The ABC Four Corners program conducted a report investigating gap fees being charged by specialists. In addition, The Age ran an article on the 26th May 2018 reporting on the AMA’s National Conference in Canberra recently, with doctors overwhelmingly condemning the practice of some specialists charging exorbitant “out-of-pocket” fees to patients, under the guise of “booking fees” and “bill splitting”.

Practice Health Check

Is it time for a numbers “health check” at your practice?

Many specialists do not have processes in place to attain and review their monthly data.

As a starting point you need to regularly monitor categories such as those listed below.

This data will help you:

1. Make informed marketing decisions
2. Select and appoint staff appropriately

$20,000 Small Business write off

Many doctors are taking advantage of the $20,000 write off – getting Rooms with Style to upgrade the interior design of their rooms. The government recently incentivised small business by stating that $20,000 of assets purchased up until 30th June 2017 can be immediately written off.

This provides a great opportunity for you to upgrade the interior design of your rooms.

It is amazing how new furniture, art and accessories can transform your space.

Award rates changes

The 1 July changes that will impact your Practice.

On 1 July 2017, the minimum wage in the Health Professionals and Support Services Award 2010 increased by 3.3%.

What does this mean to you?

For any practice that has employees covered by the Health Professionals and Support Services Award 2010, and are paying at or close to the minimum wage under the award, it is important to review and increase the employee’s minimum wages.

It is crucial that practices increase staff pay, if they receive award wages, by the 3.3%, with weekly wages rounded to the nearest 10 cents.

Updating medical computer software

Medicare Rebates: As you are probably aware, the government in handing down its 2013 budget, delayed making changes to the medicare rebates until July 2014, a delay of 8 months. Normally these changes would occur on 1st November of each year. This delay also impacts on worker cover rebates, TAC and DVA.