Your Specialist Medical Accountants

Our tailored medical accounting services are a lifeline for your enterprise, ensuring it not only survives, but thrives. Thiel Partners proudly takes on the multifaceted challenge of managing your practice’s financial health, from billing, coding and insurance reimbursements to compliance with non-negotiable industry regulations.

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Our medical accountants will enhance your financial health

In Australia, rising healthcare and daily living costs have led to restrictions and constraints on vital resources such as skilled staff, advanced technology, medical equipment, and safe, secure facilities. Efficient financial management is the key to ensuring that your practice secures and allocates these resources optimally for quality patient care.

At Thiel Partners, our mission goes beyond basic financial upkeep. We strive to optimise every aspect of your practice’s financial health, reduce tax liabilities, and craft innovative strategies for long-term business growth. A thriving medical practice relies on solid financial foundations, and we’re here to help you make that happen.

From overseeing patient billing and business cost control to managing insurance claims and disbursements, our dedicated medical accountants will keep your financial records and status in check. Our unwavering commitment allows you and your healthcare team to spend your valuable time and energy on what truly matters – delivering exceptional patient care.

The healthcare industry is heavily regulated, and achieving 100% compliance is non-negotiable. Our dedicated medical accountants help practices adhere to these rules, reducing the risk of costly penalties and unfortunate legal issues.

Thiel Partners have decades of experience helping businesses like yours adhere to healthcare regulations. We keep our finger on the pulse of all industry-specific laws, updates and opportunities, giving you the much needed support to keep your enterprise at full health.

We’ll stay on top of all of this, so you don’t have to:

  • Privacy and Data Security: secure handling and storage of patient health information, including electronic health records per the Privacy Act 1988 and the Australian Privacy Principles (APPs).
  • Medicare Billing: abiding by the Medicare Benefits Schedule (MBS) and the Pharmaceutical Benefits Scheme (PBS) to prevent fraud and ensure proper reimbursement.
  • Tax Regulations: compliant income tax, Goods and Services Tax (GST), and Capital Gains Tax (CGT) to avoid legal issues and penalties.
  • Superannuation: correctly managing and handling employee superannuation contributions and employees’ retirement benefits.

Ben Thiel

Managing Partner

Our partners are experts in their fields so you don’t have to be

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Some quick answers for you

The applicable taxes for your medical equipment can vary depending on the specific circumstances and the financing arrangement. The main types you may come across include:

  • Goods and Services Tax (GST)
  • Depreciation and Capital Allowances
  • Instant Asset Write-Off
  • Interest Expenses
  • Fringe Benefits Tax (FBT)
  • Customs and Import Duties
  • State Taxes

The best entity structure for your medical business depends on various factors, including your specific goals, the size and scope of your practice, tax preferences, and long-term plans. It’s crucial to consult with legal and financial advisors specialising in healthcare and medical businesses to make an informed decision.

Yes. Thiel Partners takes pride in providing customised, value-focused audit services across various industries and sectors. Check out our audit service page for more information.