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Welcome to The Accelerator Program!

The Accelerator Program has been developed by the National Skin Cancer Centres (NSCC) to partner with selected skin cancer practices. Based on discussions with the owners, we have identified potential for growth which is not possible in the current state due to limited capacity or resources. The participating practice owners aim to exit their business in the near future and would like to optimise the practice’s valuation prior to sale.

The Accelerator Program allows the owners to leverage of and work with the NSCC team of experienced professionals who will focus on building the value of the practice over a two-year period and provide the owner with a better outcome when they exit from practice ownership.

Upon joining the program, the owner will be relieved of the administrative burden of day-to-day operations and will be able to focus on optimising their work as a clinician.

STRUCTURE

Upon agreement NSCC will conduct a thorough review of the practice in collaboration with the owner and practice manager to identify the opportunities for revenue growth, workflow optimisation and expense reductions. From our experience, 80% of the opportunity for net profit growth comes from revenue growth as there are generally few expense reductions.

We will collaborate to develop a two-year plan to optimise the practice and obtain the best result possible. Once the plan is developed, the operations team at NSCC will work directly with the practice manager to ensure execution while providing monthly updates to the owner on the improvements.

NSCC will also take on the following back office responsibilities:

  • Doctor and staff recruitment
  • Human resource management
  • Patient recall and retention
  • Marketing
  • New patient acquisition
  • Lease and property management
  • Accounting
  • Compliance

HOW WE HELP GROW THE PROFITABILITY OF YOUR PRACTICE

NSCC have a proven track record of implementing value-enhancing growth initiatives via the following drivers:

  • Recruiting high-achiever doctors: With over 11,000 GPs trained by our affiliate education provider HealthCert, NSCC has relationships with Australia’s largest network of certified skin cancer doctors.
  • Increasing fees: Following a detailed review of your billing policy and a competitor analysis, we will optimally price your services while retaining existing patients and attracting more.
  • Utilisation: A simple term we use to track how effectively our doctors are being utilised in the practice daily to maximise revenue. We have developed staff training and tools to optimise doctor bookings.
  • Patient retention: If lack of patients is the bottleneck, patient retention will become the priority. We have proven processes and staff training to ensure your patients to come back every year.
  • Workflow optimisation: A doctor’s workflow can significantly improve or impede revenue. Our team have managed and consulted with over 100 skin cancer practices over the past 20 years and have developed the industry best practice workflow strategy.
  • Additional services: There are many opportunities to increase revenue per patient by providing complementary services welcomed by the patients.
  • Optimise staff costs: If staff are not being properly utilised, we will develop strategies to optimise their performance and improve doctor and other revenue streams dramatically.
  • Reducing property costs: We will ensure you have the right property for you practice and sufficient capacity for growth.

There are various additional initiatives we deploy to optimise your practice which are detailed below, including case studies of practices where we deployed these strategies.

HOW OUR PARTNERSHIP WORKS

Upon agreement of working towards a mutually beneficial outcome, we will commence a review of your practice’s current performance and assess its growth potential under NSCC management. This will provide a benchmark for a fair market valuation for you to consider.

The sale of your practice would be structured so that 100% of the practice is sold to NSCC at settlement. NSCC would then also inherit all future legal and financial responsibilities, relieving the current owner of these obligations. NSCC will determine a valuation for your clinic and make a cash offer typically paid in two payments, with a substantial potion paid upfront.

The exact structure of valuing the practice needs to be agreed on a case-by-case basis in a way that best suits your business and personal preferences. We understand that everyone’s professional and personal circumstances are different so we remain flexible at all times and will develop an outcome that works for both parties.

OUR GUARANTEE

We are so confident in our ability to grow your practice and provide you with increased returns over the two years that we guarantee a 20% improvement in your net profit from when we start. Most practices are fortunate to grow two to four per cent per year (industry average and compare against your three-year average) so your benefit will increase even if there are impediments to further growth.

BENEFITS OF WORKING WITH NSCC 

  • Remove administrative burden: Take a step back from busy day-to-day operations and managing human resources, accounting, marketing, and other issues.
  • Take advantage of NSCC’s experience: Access dedicated professionals to grow the practice, our efficient processes, and systems to optimise the practice and ensure compliance with current standards.
  • Access professional development: Your doctors and staff will be provided university certified and custom-built courses and training at no cost which will help grow you practice and retain good people.
  • Time for yourself: Focus on what you love with more time to pursue the interests that never fit into your busy schedule of being a skin cancer doctor and business operator.
  • Time for your family: Free up more time to travel and spend quality time with family without the constant worry of running a business.
  • Regain a clinical focus: Be more Doctor and less Manager, focusing on the delivery of clinical services rather than administration tasks.
  • Grow your wealth portfolio: Divest your practice to use the money for more profitable investments into your future retirement.

WHAT DO YOU DO WITH REALISED VALUE OF THE PRACTICE?

While you will continue working with us as a doctor and receive a share of your billings, you could consider putting your new wealth to work. Please click the link below to view a short video with Property Investment Expert Chris Gray explaining just one of your many options. 

 

WHY PARTNER WITH US

  • Your practice name and good reputation will remain and further enhanced.
  • We are an independent group of ‘centres of excellence’ which you know and can trust.
  • We always put the best interests of patients, doctors, and staff first.
  • We are the leaders in our field with 20 years’ experience in skin cancer medicine and practice management.
  • We understand the unique business of skin cancer and only operate skin cancer facilities.
  • All clinical decisions are made by the clinicians, including where they send their pathology and have the support of the Clinical Advisory Board – chaired by Prof David Wilkinson.

IN SUMMARY

The Accelerator Program is designed for practice owners who wish to work with an experienced team of skin cancer medicine professionals to scale their practice. We work with you, your doctors, and staff to help identify the areas that could be improved on, build a plan for execution, and monitor the results. The program also provides the owner and the NSCC team with the opportunity to get to know each other, understand how we all work and grow the practice together.

This is a win-win situation as the practice owner has a guaranteed exit strategy with a fair value. The doctors can grow their income without having to work more hours and have access to professional development in skin cancer medicine. Participating practices have seen a dramatic increase in the performance as other improved outcomes like practice culture. Please review the case studies to see how we have helped practices in the past and you are welcome to speak to the owners about their experience with NSCC.

We would appreciate the opportunity to help you achieve your goals – personally, professionally, and financially, and welcome your practice into our group of ‘centres of excellence in skin cancer medicine’.

INITIATIVES AND BENEFITS OVERVIEW

The key focus for the Accelerator Program is to increase the profitability of your business, to optimise its value and to provide you the best return on your investment.

We work together to improve the practice’s performance over a two-year period. Many of the initiatives and tasks will be handled by our experienced team but as the owner (and practice manager) on the ground, many will need your help and support to ensure successful implementation.

To help achieve optimal performance, our focus will be in two key areas: revenue and expenses. From our 20 years of experience we have learned that 80% of the growth in a practice comes from revenue.

 

REVENUE

It is critical to understand what the bottleneck is for growing your revenue. Is it more patients, more doctor hours, more space or a combination of several factors? Identifying these challenges early will help us focus our resources in the right area.

If the practice is short on patients, we will implement initiatives to retain existing patients, attract new patients and increase the income per patient via fee increases and new services. If we are short on doctor hours, we will prioritise doctor recruitment or focus on workflow changes to increase the revenue per doctor.

If the practice is short on space, we will expand your current tenancy or relocate. Please keep in mind that often the cost of relocating is negligible compared to the potential revenue it could add to the business by relocating.

EXPENSES

BEYOND REVENUE AND EXPENSES - OTHER BENEFITS

Case Studies

Case Study 1

This practice was purchased in April 2017 and offered combined services of skin cancer and aesthetic medicine. It was owned and operated by two doctors who worked in the practice along with several other doctors. Both doctors aimed to remove the administrative burden and focus on clinical work.

Our initial strategy was to increase the number of doctors practising skin cancer medicine and utilise unused space. We then focused on growing the existing aesthetics side of the practice with the introduction of new services and a revised marketing strategy. Three years after NSCC took over the management of this centre, the skin cancer side of the business is operating at full capacity and the aesthetics business is experiencing strong growth.

Case study 1

THE FUTURE

NT New facilitypngThere are current limitations to growth due to the size and configuration of the building that the practice is located in, with the centre running at capacity for the past 12 months. In addition, the room layout of the current tenancy has limited our ability to modify the workflow and potentially increase the doctors’ billings per hour by about 20%. In November 2020, the lease on this centre will expire and we will relocate to a new purpose-built facility.

Our new facility, currently under development, has been designed specifically for the treatment of skin cancer and other skin conditions. The facility includes:

  • The latest imaging technology from FotoFinder.
  • Surgical facilities designed with rear access to the central sterilisation area.
  • Two side by side entrances, one for the skin cancer centre and the other for the aesthetics practice.
  • 32 car parks for staff and patients.

CASE STUDY 2

Our second case study looks at a centre that joined the NSCC group in December 2016. The practice was owned and operated by two doctors. With high demand from patients and no success in recruiting new doctors to the centre, it had become apparent that both doctors would struggle to retire over the next few years.

Our initial strategy was to increase the number of doctors practising at the facility and shortly after we acquired the practice, we added another FTE doctor. Over the next two years, we increased the doctor levels until the practice was at full capacity.

In December 2018, we relocated the centre to a purpose-built facility within a short distance from its original location. The new location has allowed us to grow the practice to a four FTE practice.

Case study 2

Skin cancer practice before NSCC management

Reception area - before
Waiting area - before
Consulting room - before


Skin cancer practice after NSCC management

Clinic after
Waiting area - after
Reception area - after
Consulting_After
Operation theatre - after