How MNP Can Help Physicians

Whether you are just graduating, starting a new practice, or planning for your retirement, MNP provides a full range of business advisory services to assist you at every stage.

Recent Graduates

After residency, you are excited about starting your career and realizing your vision for the future. With so many choices, you may be wondering what the best approach is. We understand your situation and work with you to answer your most pressing questions such as:

  • Should I incorporate? If so, when?
  • Should I be an associate of a practice? On what terms?
  • Should I start my own practice? How? When?
  • How do I finance a start-up?
  • How do I pay off student debts as quickly as possible?

Growing Your Practice

At this stage, your practice has grown and you wonder if you are doing everything you can to achieve your full growth potential. You may want to take your practice to the next level, but may not know how to effectively manage this growth. A trusted business advisor can help advise you and answer important questions, including:

  • How do I establish reasonable benchmarks?
  • How do I compare to other medical practices?
  • How do I control costs and manage cash flow along with my other finances?
  • How do I grow the business?
  • How do I minimize taxes?
  • When and how do I attract other doctors to the practice?
  • What are my priorities for work/life balance?

Mature Practice

As a well-established practice, you have managed your operation successfully for many years and it may be time to explore your next move. At this stage, you might have a number of questions such as:

  • What are my retirement needs?
  • What is my succession plan?
  • When do I want to retire? What will that look like?
  • Will my family be looked after?

By understanding your needs, we can help you determine what success looks like to you today, five years from now, twenty years from now and when you retire. At MNP, we help you answer any questions you may have to ensure you understand your options and make the best choices that fit with your unique situation and goals. From strategic planning and setting up an efficient tax structure to recording transactions and working with your banker and the Canada Revenue Agency (CRA), MNP is here to help. Working with you one-on-one, we help you achieve your personal and business goals.

To find out what MNP can do for you, contact your local MNP Advisor or call Calvin Carpenter, CA, Professional Services Leader at 1.800.661.7778