Episode 1. Increasing Practice Profitability
In this the first episode of the Health Practice Insights Podcast, host Wallace Long speaks with business advisor and chartered accountant Philip Arnfield.
Philip shares practical strategies for health practice owners to address their biggest business challenges. The conversation covers pricing for profitability, becoming an employer of choice, customer segmentation, and the crucial distinction between compliance and advisory services.
Whether you’re a sole trader, small or medium sized practice, this episode is a must listen.
You can listen to the podcast on Apple Podcasts, Spotify, head to the Podcast page or click the player below.
Our Guest
Philip Arnfield is a chartered accountant and business advisor with over three decades of experience. After selling his successful chartered accounting practice, Philip now delivers his ‘How to Build a Better Business’ training programs across Australia to small businesses and accounting firms.
Key Takeways
- Price Strategically for Profitability: Don’t just absorb rising costs—review and adjust your pricing to ensure you can invest in your people and maintain a profitable practice
- Become an Employer of Choice: Attract and retain quality staff by offering a valued work environment, professional development, competitive earnings, and modern facilities
- Segment Your Customers: Analyse your patient base by payer type and value, and manage appointment bookings to ensure higher-value clients aren’t crowded out by lower-paying ones
- Leverage Your Team: Recognise the critical role of front-desk staff in shaping profitability through strategic diary management and customer prioritisation
Disclaimer
This podcast is for informational purposes only. The views expressed are those of the hosts and guests and do not constitute professional advice. We make no representations or warranties regarding the accuracy, completeness, or applicability of the content. You should consult your professional advisors for specific advice relating to your situation.
