Manos Partners’ precise advice helps medical practice prosper
Debbie Ashmoneit and Dr John Pakos engaged Manos Partners in 2012 to help them assess the financial viability of a new medical practice that they wished to establish.
“From the outset of our relationship, Peter has demonstrated a genuine interest in the success of the Pasadena Medical Centre,” Debbie said. “He was our guide through the finance process with MEDFIN and thoroughly reviewed documentation before preparing the profit and loss forecasts.”
During the preparation of forecasts, “Peter adopted a conservative rather than a best case approach,” she said. For example, rather than being based on best case scenarios, “his revenue projections were calculated on practice fees being generated through Medicare rebates alone.”
Debbie was impressed that “Peter provided us insight into all costs” so that the business partners could accurately assess the viability of the new venture.
Financial due diligence was necessary. Rather than being located in traditional doctors’ consulting rooms, the Directors’ had decided that the practice would be located next to pharmacy within a shopping complex – so that it could be conveniently accessed by elderly patients in the community. This location, of course, would attract significantly higher lease fees.The strategy has been successful. Since opening, the practice has grown from a zero client base to over 3,600 registered patients within a two year period. This growth has been supported by the accounts systems that were set up by the team at Manos Partners when the practice first opened.
Debbie said that working with Peter leaves her “feeling very secure. For example, I know our accounts are precise because Peter helped us set them up in the first instance.”
“Peter’s very good with strategic advice…such as making structural changes to reduce tax. He’s always available and provides clear, concise responses,” she said.
“Peter is an important part of our business…who has removed any financial burden that can be avoided.”