Why Doctors Still Struggle: Gaps, Tax, and Practice Profitability (with Dr. Melanie Lau)

Disaster planning

As we prepare for Cyclone Alfred we discuss what business need to do to prepare for disasters. Work with us: https://relevate.com.au/ [https://relevate.com.au/zoho-one/] Join the Relevate Community and get in depth guides, tips, tricks and tutorials on how to grow your business with digital skills and technology. Join our Digital Accelerator membership and take your business to the next level: https://join.relevate.com.au [https://join.relevate.com.au] Choose the right software for your business with the Relevate Directory: https://directory.relevate.com.au [https://directory.relevate.com.au]

Why Doctors Still Struggle: Gaps, Tax, and Practice Profitability (with Dr. Melanie Lau)

Avon interviews radiologist Dr. Melanie Lau about why doctors earn high incomes yet can still feel financial pressure, discussing the role of specialist qualifications, niche demand, hours, legal risk, and motivations such as helping people, money, respect, and cultural expectations. They explain how doctors are often strong in science but weaker in business and financial literacy, leading to budgeting issues, keeping up with the Joneses, and being caught out by high marginal tax rates. For practice profitability, Dr. Lau highlights a key “small change” for radiology and similar practices: appropriately charging patient gaps due to long Medicare rebate freezes and rising costs, while considering bulk billing for some patients. She also stresses improving patient experience via front desk engagement, hiring strong staff, and ensuring practice managers have support, including her Melolux community and articles for practice managers.00:00 Welcome and Guest Intro04:05 Motivation and Culture07:03 Doctors vs Business Mindset09:29 Simple Profit Lever Gaps13:06 Ethical Upsells and Utilization16:16 Tax Shock and Spending21:14 Practice Manager Challenges25:02 Patient Experience Matters26:53 Top Tips and Wrap UpYour network is your net worth. Everyone tells you that you need to do it but nobody tells you how to do it. You go to traditional networking events and get pitchslapped left right and centre. It feels yuck and you don't want to go back.There is a better way. Thinking strategically about your network can be more impactful. Connect with stakeholders, find new opportunities, build partnerships. Whatever it is you want to do, having a network will help you get there faster. Get the free guide on building your network rather than just going through the motions. Download the free guide here: https://join.relevate.com.au/networking-mastery

Organisational Key Result Areas

These help you to create goals that cascade down from strategic goals to initiatives and projects right down to the very tasks that lead to achieving the end result. People often get hung up on the terminology and end up missing the point. In this session we discuss what is an OKR and how to you get results for your business. Work with us: https://relevate.com.au/ [https://relevate.com.au/zoho-one/] Join the Relevate Community and get in depth guides, tips, tricks and tutorials on how to grow your business with digital skills and technology. Join our Digital Accelerator membership and take your business to the next level: https://join.relevate.com.au [https://join.relevate.com.au] Choose the right software for your business with the Relevate Directory: https://directory.relevate.com.au [https://directory.relevate.com.au]

Avoiding Key Person Risk - The Big Red Bus Problem

Key person risk is unavoidable but there are ways to minimise its impact should the worst think happen. Do you know what you would do if one of your key staff (or you) got hit by a big red bus? Work with us: https://relevate.com.au Join the Relevate Community and get in depth guides, tips, tricks and tutorials on how to grow your business with digital skills and technology. Join our Digital Accelerator membership and take your business to the next level: https://join.relevate.com.au [https://join.relevate.com.au] Choose the right software for your business with the Relevate Directory: https://directory.relevate.com.au [https://directory.relevate.com.au]

Knowledge Management - why you feel like you can never leave

If the knowledge on how to do everything is contained within your head, then you can never truly get away from your business. If you ever want a day off or allow delegation in your team, you need knowledge management. This also increases your business valuation because it is an asset you can hand over.