Congratulations!
The long and arduous registrar training is over, you’ve passed your exams and now you’re ready to join the greatest profession as a General Practitioner. You should be proud of yourself. It’s a remarkable achievement.
You’re probably wondering what to do next, now that you’ve completed the GP Registrar phase. To help you, here are some considerations which will help you get set up correctly and ready to practise medicine as a General Practitioner.
As a GP, you will most likely be self-employed as a contractor within a medical practice. This means you need to apply for an ABN through the Australian Government website here.
Also, as your yearly turnover will be more than $50,000, you will need to register for GST during this process.
Apply for your ABN early so that, when you are accepted into a Medical Practice, you are ready to go.
Trust us: you will certainly need a professional and trustworthy accountant.
They will help you get all of the business structure details sorted for you.
Are you going to form a company or be a sole trader? There are points in favour of each, but an accountant is the best person to advise you. Whichever one you choose, you will still have to lodge a business activity statement every three months. Your accountant will no doubt do this for you, but that will come at a cost. There are several accounting software packages that can be used to perform this task, so it is possible to do it yourself.
But make sure you comprehensively understand your responsibilities and software. So, it’s best to speak to an accountant upfront so you are well-informed.
Have you heard that old saying: “there are only two things certain in life: death and taxes”.
Well, nobody knows this better than Doctors.
It’s crucial to understand your liability in this area right from the start and make provision for it with any income you receive.
One of the great things about joining the greatest profession is be continually learning new things.
Doctors do this anyway, but you will need to amass evidence of continuing education to maintain your registration. Approach this with enthusiasm and use it as the basis for developing a special interest.
For more information, visit the RACP website here.
Ok – it’s time to get out there and find a GP role you can fill.
Like many newly qualified GPs, you will probably give preference to working in a practice you know. This is right and proper, but don’t forget to consider all of your options. One of the biggest decisions to make is whether or not to be a practice owner or simply work within a practice.
That’s completely up to you – but do your research and decide which path you wish to pursue.
For example: ask yourself: “Is General Practice the best place to invest my capital?”
Think long and hard before you reach a conclusion.
It’s hard to try and discover all of the answers for yourself when you’ve never done this before. So, reach out around the community and see if you can ask an experienced GP to mentor you.
It doesn’t have to be anything formal or official – just someone who you can ask questions and get the answers you need.
Chances are, more experienced GPs are usually willing to help with support and guidance.
Have you considered a GP Career with Partnered Health Medical Centres?
At Partnered Health Medical Centres, we’re here to help you drive your career in the direction you want.
Speak to your local GP Recruiter today to discuss what matters most to you. Or come and visit our clinics to experience the difference for yourself.
