I’d like to introduce you to a group of professionals
whose sole purpose is to assist doctors in the business of running their
practices. Their group is called the Fintuition Institute and
its aim is to be an education and resource centre.
Steven Macarounas presenting in Melbourne.
As one of their network of consultants, Synapse has partnered with the group to provide advice on billing and other administrative services. In July 2010 in Melbourne, I delivered a talk at their three-day workshop for gynaecologists and obstetricians.
The response was fantastic. Attendees button-holed me after the session
and I couldn’t leave. In the end, we were kicked out by the venue
management because they were waiting to set up the room for another
There’s obviously a huge interest in the medical profession
about all the ancillary services that allow for the
of patient care.
Below you’ll find an interview with Steven Macarounas who is the
force behind the Fintution Institute. You’ll also see an excerpt from a
report by one of the guests attending the Melbourne workshop to the
Australian and New Zealand Society for Geriatric Medicine. You won’t be
surprised to hear that he recommended the Society support a similar
The next workshop will be for dermatologists and, as with Melbourne,
we expect to be packed to the rafters.
The Business of Practicing Medicine
“Fintution has been providing financial advice to doctors for 23 years. It was a natural outgrowth of that service to incorporate education as well. The concept of providing an independent program is only a year old,” says Steven Macarounas, Director of the Fintution Institute.
“The aim is to be an education and resource centre for all aspects of business and lifestyle management for doctors.”
While the Institute has already delivered a number of workshops, supports a website and produces the quarterly magazine The Private Practice, it plans to expand its online offering to include the delivery of e-tutorials to accommodate doctors in their hectic schedules.
“Specialising in the medical community over the years, our financial advisors have covered a range of disciplines such as superannuation, cash flow management, estate planning, insurance – most of the things to do with managing personal finances.
“But what we’ve always known is that there is an enormous gap in doctors’ education around setting up a practice and business management. Without the ability to create business efficiencies, the hard work of running a practice can result in bad health and stressed personal relationships.
“Doctors are often poor managers of time, money and human resources. Retiring doctors always say that they didn’t spend enough time with their family or take enough family holidays.”
“So we set up an education company that goes beyond giving one-on-one financial advice. We want to lift the level of knowledge so that doctors can make informed decisions. We provide a comprehensive educational network now in which financial advice is only one element. We cover IT, marketing, professional indemnity – everything to assist doctors to transform their practices and their lives.”