Health

January 16, 2026

Starting your own healthcare practice? Five tips for success. 

For many health practitioners, owning a practice is the ultimate career goal. It brings the freedom to shape your own hours, build long-term wealth, and deliver care in the way you believe best serves your patients.

But stepping into ownership is a significant commitment. From finance and staffing to compliance and cash flow, there are many moving parts to get right from the start. Without solid foundations, the move from practitioner to owner can quickly feel overwhelming rather than empowering.

Medfin Finance, NAB Health and HICAPS have supported thousands of healthcare practitioners – from dentists to GPs, medical specialists, vets and more – to establish and grow their practices.

Here are five tips to help you prepare for success.

1. Build your “A team” (Advisory team) early

Behind every successful first-time owner is a team of trusted people who’ve helped them navigate the journey. Before you begin, assemble a team of trusted advisers who understand the healthcare sector.

Think of it as building your own support crew. This might include an accountant who has seen dozens of clinicians make the leap before you, or a solicitor who knows where compliance pitfalls hide, an adviser who can help protect your income, or a healthcare banker or financier who understands the realities of running a practice.

As John Avent, Executive NAB Health and Medfin puts it: “Learn the basics of running a business by leaning on the people who do this every day.” Getting these voices around the table early doesn’t just tick boxes – it gives you confidence. You’ll have someone to call when a lease term looks confusing, when the cash flow projections don’t add up, or when you’re weighing up the best way to structure your assets.

2. Have a clear business plan

For many new business owners, writing a business plan can feel like another unnecessary admin task but John Avent reflects: “Medfin clients who go through the process of writing a plan, really value it for the clarity it provides. In the end a solid plan isn’t just for the bank – it often becomes a client’s own roadmap for making their practice sustainable and successful.”

A good plan is comprehensive. It should spell out who your patients are, how you’ll attract them, and what your costs will be. It might include details about your staffing plans, including how you’ll attract and retain key people, as well as any particulars around your premises and lease arrangements, your revenue forecasts and how you plan to grow once the business is up and running.

A business plan also shows lenders you’re serious, which is important since they’re not just backing your qualifications, they’re backing your vision.

3. Understand your finance options

Starting out usually means significant upfront costs beyond the purchase price. The good news is there are tailored finance solutions for health professionals. Medfin is a healthcare specialist lender with deep experience creating the right overall finance structure to help support individual business plans of practice owners. These structures may include:

• Equipment and fit-out finance: flexible terms to suit depreciating or long-life assets
• Draw down facilities: staged funding to match cash flow during fit-out or renovation
• Working capital loans: to cover day-to-day operating costs in the early months
• Goodwill lending: funding the purchase of an existing practice’s brand and patient list

Importantly, some lenders may allow eligible borrowers to finance up to 100% of the purchase price or valuation amount, subject to credit assessment.

Before approving finance, a lender will want to know you’ve thought through questions such as:

• What exactly are you buying – is it goodwill, equipment, or stock?
• How will those assets support your growth?
• Will the practice need upgrades or renovations, and how will you plan for them?
• If you’re already working elsewhere, how will you balance two roles without stretching yourself too thin?
• And if this is your first practice, how will you grow into the role of both clinician and business owner?

Answering these questions will not only satisfy your lender but also help you plan with clarity and confidence.

4. Plan for cash flow and protect yourself with insurance

Early months can be cash intensive, especially if you’re fitting out premises or building your patient base. You should ensure you’ve budgeted for costs such as:

• Rent or mortgage repayments
• Staff salaries and entitlements
• Consumables and lab fees
• Technology and compliance costs

While you’re setting up, remember to protect yourself. Your ability to earn is your single biggest asset, so ensuring you have income protection cover is crucial. “You insure your car and your house – why not your ability to earn?”, says John Avent.

5. Don’t overlook the fine print

It’s easy to assume that because a practice is already operating, the permits and approvals are in order. That’s not always the case. Permits can be out of date, lease terms may contain hidden costs, and payroll tax liabilities can contain nasty surprises. You should make sure your solicitor checks things such as:

• Local council permits to run a healthcare practice
• Lease terms, options, and obligations (including bank guarantees)
• Employment contracts and payroll tax liabilities (which vary by state)

Taking the time to do this due diligence means you’ll start your ownership journey on solid ground, without unexpected obstacles standing in your way.

Final word

The shift from clinician to business owner can feel like a big step, but you don’t have to do it alone. By surrounding yourself with the right advisers, mapping out a clear plan, choosing finance that fits, and keeping an eye on cash flow and compliance, you’ll give yourself the chance to thrive. With the right support, owning your own practice can be the best and most rewarding decision of your career.

Medfin, NAB Health and HICAPS are all part of the NAB Group. We work together to support you across your personal banking, business banking and health claims processing needs.

To find out more, please contact a Medfin Finance Relationship Manager. We are ready to meet with you and support you and your practice plans.

Feel free to contact us on www.medfin.com.au, opens in new window or call 1300 728 718.

This article has been prepared by Medfin Australia Pty Ltd ABN 89 070 811 148 Australian Credit Licence 391697 (Medfin) and is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on the information in this article, you should seek professional advice and consider whether it is appropriate for you in light of your objectives, financial situation and needs. Terms, conditions, fees, charges, eligibility and lending criteria apply to Medfin’s products (available on request or at medfin.com.au). Applications for credit are subject to credit assessment criteria.

Medfin and HICAPS Pty Ltd ABN 11 080 688 866 (HICAPS) are wholly owned subsidiaries of National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian Credit Licence 230686 (NAB) and part of the NAB Health specialist business. Medfin’s and HICAPS’ obligations do not represent deposits or other liabilities of NAB. NAB does not guarantee its subsidiaries’ obligations or performance, or the products or services its subsidiaries offer. You may be exposed to investment risk, including loss of income and principal invested.

© 2026 Medfin Australia Pty Ltd ABN 89 070 811 148 Australian Credit Licence 391697.