Healthcare professionals, from general practitioners to osteopaths and pharmaceutical companies, are primarily focused on patient care over profit. But, keeping a business running requires thorough financial and operational oversight, especially in such a competitive and regulated environment. The Co. steps in to bridge this gap; you get to focus on taking care of your patients, while we take care of you.

As one of the top healthcare accountants in Melbourne, we help our clients navigate complex business structures, streamline administrative processes, and benchmark against industry standards. Along with the financial side of things, our team of knowledgeable business advisors will also work closely with you to develop and identify growth strategies. For medical professionals who want to build something sustainable or simply reduce their day-to-day stress, here’s how we can help.

Empowering the individual practice

At The Co., we don’t just manage finances; we help professionals build long-term success with actionable strategies. For our clients in healthcare, we’re well-versed in implementing reporting systems that integrate seamlessly with practice management software, ensuring accurate contractor billing reconciliation. Another important role in supporting healthcare providers is exploring potential revenue sources that don’t solely rely on the principal themselves — whether it’s rethinking the scope of services, contracting professionals, remuneration and other contributions to the clinic.

For individual practitioners, we’ve addressed functions such as:

• Hiring and allocating staff to meet patient demands
• Identifying government grant opportunities
• Provision of services to strengthen practice income

This approach leads to steady income growth, giving practitioners greater freedom. For example, one GP client has been able to reduce their workload to four days a week while maintaining financial stability.

“Utilising The Co. has helped our business grow at a rate that I feel is beyond what I ever could have done on my own. I know that with the support I have from my business advisors and accountants, we are going to make calculated, smart choices.” – Dr. Jarrod Alivizatos, Muscle Joint Bone

Partnering with medical enterprises

Our expertise also extends beyond individual practices to large-scale healthcare businesses, from their foundation through to sustainable scaling and/or acquisition. One example is our long-standing partnership with a pharmaceutical company. Since its inception, we’ve provided strategic financial guidance and operational support, focusing on:

• Month-end financial reporting
• Inventory management optimisation
• Three-way forecasting for financial stability
• Establishing and tracking sales targets with the CEO

Over five years, this company grew from a two-person startup to a thriving business with 20 employees, before successfully selling to an international firm. We continue to support its growth alongside the new global partners.

Specialised tax accounting

In a field where most professionals are time poor, having the right team around you can make all the difference. This means engaging reliable, professional, and hands-on accountants who know your industry inside and out.

We specialise in tax planning for the medical sector in Australia. When it comes to your taxes, we aim to set targets and forecasts to ensure prompt business reporting and timely decision-making. Remember; tax compliance is ongoing, and not just something to think about at the year’s end.

If you’re seeking dedicated accounting services for healthcare businesses in Melbourne, or think it’s the right time to get a business advisor on board, speak to a member of our team today to find out how we can help you.