DRISS funding applications open

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drissApplications have this week opened for the next round of Dental Relocation and Infrastructure Support Scheme [DRISS] funding. Announced as part of the 2012-13 Budget, DRISS provides $77.7 million over four years to strengthen dental services in regional, rural and remote by supporting the relocation costs of dentists. DRISS offers relocation grants of $15,000 to $120,000, and relocation and infrastructure grants, assisting with the purchase and fit-out of dental facilities, of up to $370,000.

An important component of the application criteria is that the dentist have any pre-approved loans in plans, as well as a two-year cash flow budget as part of the practice’s business and financial plan. According to BOQ Specialist, a financial service specific to the dental profession, the emergence of technology and competitive pressures means the investment required to set up a practice has increased steeply over the past decade.

“The cost to set up a practice is one thing but there are also additional living costs to consider,” says Stafford Hamilton, a BOQ Specialist consultant. “To ensure a smooth transition, we encourage practitioners to ensure they have sufficient funding in place to support both their work life and home life.”

DRISS is administered and managed by Rural Health Workforce Australia [RHWA]. Application information can be obtained from the RHWA website.

 

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