Profit Margin
This query is : Resolved
11 September 2009
Dear Friends,
I am a Surgeon practicing for last 20 years.I have my own 14 beded nursing home.My A/C are audited. I am having profit margin of 30-35%. It may increase in future. What I want to know from you (as all of you are CA's and must be managing A/C of many doctors}is what should be profit margin for consultants ?. Because as we become senior our income increases but expenditure remains almost same as they consisit of staff salary,Electrcity bills, tel.bills etc. so naturally profit margin increases. My CA who is very senior says if I show increase in margin I may face scrutiny.
Please advice. what is profir margin in medical practice in individual proprietery nursing homes.
Thanks.
Ramesh
I am a Surgeon practicing for last 20 years.I have my own 14 beded nursing home.My A/C are audited. I am having profit margin of 30-35%. It may increase in future. What I want to know from you (as all of you are CA's and must be managing A/C of many doctors}is what should be profit margin for consultants ?. Because as we become senior our income increases but expenditure remains almost same as they consisit of staff salary,Electrcity bills, tel.bills etc. so naturally profit margin increases. My CA who is very senior says if I show increase in margin I may face scrutiny.
Please advice. what is profir margin in medical practice in individual proprietery nursing homes.
Thanks.
Ramesh
12 September 2009
There is no thumb rule for profit margin Consultancy advice given by your CA will not be billed same as the same advice given by KPMG, Yr CA is the best person in this regard as ne is monitering yr a/c closely for long.
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