The medical profession in Australia appears to be following a litigious trend from the USA:
“The Wall Street Journal 10/2/2010 reports that prior to the Medical Malpractice Reform Act, damages against doctors grew by more than 247%, while Chicago doctors saw insurance premiums rise 10 to 12% a year. Following a trend in other states with runaway litigation against doctors, physicians left Illinois for other states, resulting in fewer doctors to treat patients, especially in rural areas.

What is clear is that doctors must protect their assets from aggressive litigants and plaintiffs lawyers. Asset protection allows doctors to maintain reasonable levels of liability insurance. In the event that a patient is in fact injured, he can be compensated, but unable to go after the doctor’s personal assets to satisfy an unreasonable judgment. Asset protection is most effective when implemented prophylactically, before the patient’s lawsuit, rather than as a reaction to the lawsuit.”

Our message to G.P.s, Locums, & Specialists is to : 

“Plan ahead and feel secure, that their personal assets are protected from future threats”.

As your Accountants we will complete your annual compliance work and look at the best possible way to arrange your affairs for maximum asset protection and side step any potential  financial loss. You have worked hard to accumulate assets over a long period of time. Don’t risk that by sitting on your hands and relying on your insurance policy to cover a potential future claim.

“A healthy business strategy and Asset Protection makes for a healthy client”