Accounting & Taxation
Management and Tax Accounting are different, but you need both to make strategic decisions that align with your Vision and ultimately grow your practice.
STEPHEN GUTHRIE | DIRECTOR OF BUSINESS SERVICES AND TAXATION
Prosperity Health for your Practice
Reduce tax, drive the success of our practice, protect your assets, grow your investments and look after your team, all with the help of Prosperity Health.
There is a major shift underway in Australian medical practices. Clinics are getting larger and ownership is becoming concentrated among fewer players, with corporate ownership growing and the rise of the GP super clinic incorporating allied health professionals. Running a large and busy practice or day clinic, especially at multiple locations, is hard enough, without the worry of managing your accounting processes, considering how best to incentivize and reward your doctors and staff, and making sure you achieve your financial and wealth goals.
Where Prosperity Health fits in
We work with practices and clinics of all sizes to turn these burdens into attainable outcomes. Our advice is tailored to your practice life cycle, whether starting a new practice, building and growing an established practice, maximizing the value of your practice, or helping you to plan for succession and transition out of your practice. Drawing on more than 30 years of industry practice, we combine the skills, knowledge, and know-how of chartered accountants, tax specialists, financial planners, business managers, and cloud system experts to help practice owners manage for prosperity.
The entry point to engaging your Practice with Prosperity Health is a complimentary meeting with one of our dedicated health specialists to explore the needs of your practice. Some clients like us to prepare a detailed statement of recommendations, where we take into consideration the financial plan, structure, business strategy, owner return, growth aspirations, financial position and put in place a strategy that covers these key areas.
We work with our Practice clients closely and cost-effectively to ensure they have the right information at the right time to make informed financial choices as they manage and grow their business.
If you would like to book a complimentary meeting, please click here.Read more
SHANNON MURPHY | DIRECTOR
KPeyes – “a centralized platform to review your medical practice, enhance your overall understanding of your business to assist in making informed decisions as well as automating mundane data entry tasks”.
My name is Shannon Murphy, and I am one of the founding partners of KPeyes. KPeyes was founded by a group of like-minded individuals that understand that data is key to everything we do. From assisting us in making better-informed decisions right through to compliance and governance oversight.
I have been working as an accountant for over the past decade specializing in the medical sector for a whole range of stakeholders and early on I understood the importance of unlocking data and being able to gather valuable information to assist us in advising our clients on how to maximize their potential.
KPeyes is your gateway to understanding your medical practice as well as automating and streamlining administrative process.
KPeyes is built off of the incredibly powerful Microsoft Power BI platform, the leader in data visualization software. This has allowed the developers at KPeyes to integrate KPeyes with the leaders in practice management system (PMS) software such as Best Practice and the most advanced accounting software system available to date, Xero.
This integration allows KPeyes to pull all this underutilized data and information held within these systems and display this in a very easy-to-use dashboard showcasing Key Performance Indicators(KPI’s) that relate to the clinic.
KPeyes also does a bit more than just visualisation of KPI’s, it also assists in administrative tasks such as Doctor’s disbursements and bank reconciliation. We take this very manual and laborious process and calculate all the doctor’s disbursements automatically, generating supplier invoices within Xero and creating recipient tax invoices for all the contracting doctors.
We at KPeyes feel that a system should do more than just one thing, hence why KPeyes was born. It’s about empowering the business owner and practice manager to enable them to get on with doing what they need to do, running the practice.Read more
ELENA BYTCH | TAX ADVISER, PRINCIPAL
Elena Bytch is the founder and principal of Prism Accounting. She started her accounting career in the early 2000s and has gained extensive experience in accounting and tax both within public practice and commerce sector. Prior to starting Prism Accounting, Elena spent several years as a Tax Consultant with a specialist accounting firm where she developed her expertise in Medical Accounting. Elena has helped hundreds of doctors, dentists and allied health professionals to navigate complexities of tax law and achieve business success.
Elena’s areas of tax specialisation include:
- Capital Gains Tax, Concessions and Rollovers
- Small Business Concessions
- Business Structuring and Restructuring
Elena is a Chartered Accountant with CAANZ, Chartered Tax Adviser with The Tax Institute, holds Master Degree in Business Law and is a Registered Tax Agent.Read more