Tuesday, June 30, 2015

Tips For How To Start A Medical Practice From The Ground Up

By Jordan Schmidt


Many physicians enjoy their work; however, sometimes it can feel confining when you work in a hospital or clinic. Working for someone else means that you cannot set your own hours and rates. To avoid this, many doctors decide to open their own practice. If you are a physician who is considering this, there are many tips for how to start a medical practice from the ground up in California and any place else.

If you have patients at the place you are currently working, send them a letter to encourage them to follow you to your new business before it launches. Starting early will give you the best chance of them joining you. Put an announcement in the local paper letting people know that you are starting the practice and when you will be accepting new patients. You should also set up an email system so that people can contact you with any questions and to sign up.

The first thing you need to do is get your finances in order. Starting your business will be virtually impossible without some financial assistance, unless you are independently wealthy. This means you will have to go to the bank for a loan. When you meet with a loan officer, they will want you to convince them that you are going to be successful and have enough patients to be able to repay the loan.

You may also want to consider working alongside a healthcare business expert during this process. These experts can help you set up your practice and offer you advice in various areas. They may also be helpful if you are pressed for time, as they can take on many of the setting-up tasks for you.

When meeting with your lender, share with them your business plan and why you believe your practice will be a success. You need to exude confidence, because you are basically asking the bank or lender to invest in you. Show them your enthusiasm and your plans, such as how you intend to recruit new patients and manage your finances.

Purchase some professional looking business and appointment cards, along with envelopes and letterhead. To give your practice a personal feel, create nametags for yourself and your staff members. Make sure the exterior and interior of the office is warm and welcoming for patients. Set up your own individualized logo so that you can create a brand for your practice.

It is not only the staff you need to think about hiring. Unless you are handling the day to day affairs of the business yourself, you may need to hire a practice manager as well as an accountant to make sure your finances stay afloat. You want to focus on patient care, not doing paperwork all day. You may also need a lawyer to draw up contracts and other legal documents, such as a lease for your new premises. An insurance specialist can advise you whether you need malpractice insurance now that you are going into business for yourself.

Your website should include general introduction about your business and the services you offer, as well as a profile of yourself. Make sure the contact information is displayed prominently. Make it easy for visitors to navigate and try to aim for a cheerful and friendly design.




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