Our Approach to TransactionsPosted by Dr Malcolm Parmenter on 03 Jul 2015
There has been considerable commentary in the press and social media recently, following the announcements made by Primary Healthcare Ltd in relation to certain changes it is making to its accounting and taxation policies. The publicity and subsequent reaction has raised speculation as to how this may affect doctors, and indeed whether IPN doctors may be affected.
It is important to note that these announcements only relate to Primary’s business, and not to IPN or to the healthcare industry as a whole. IPN has always taken a case by case approach to its transactions with practices and doctors, and considered each on its merits in a manner appropriate to the circumstances existing at the time. Our approach to accounting and taxation matters has been conservative, and whilst this may have impacted our competitive position at times, we consider it has established a platform for collegial, transparent and positive relationships with our doctors for the long term. We believe there is no reason to re-evaluate our accounting or taxation policies, and we have no plans to do so.
We will continue to conduct our business in the same way in the future. We are an active participant in the industry, and we are continually considering acquisitions and agreements with doctors who share our culture and vision for supporting better medicine. Doctors who are looking for management support, to simplify their commercial arrangements or even looking to ‘downsize’ as they head towards retirement should rest assured that they will find a great long term partner with IPN.