How to Open your own Medical Practice

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The vast majority of health professionals dream of opening their own practice. In fact, after years of study, residence and specialization, having your own business is an achievement that, unfortunately, is not available to many of them, because it requires a high initial investment. However, thanks to their medical talent and academic achievements, they can easily access funding of any kind, so you only need to know how to set up a doctor’s office.

Thinking about it, here are some basic tips on how to set up a doctor’s office.

Structure of the office

Each doctor’s office needs a reception, waiting room, restrooms and, of course, at least one space for consultations. But everything depends on exactly the objective of your business and also your experience.

Some clinics that attend specific medical specialties require a room for exams.

Important detail: when setting up your office, try to choose places where there is the possibility of expanding the structure of the business.

As mentioned by the head investor at Brio Dental, if the number of patients in your clinic grows – and we hope that this happens – it is important that you can increase the space to better serve everyone. If not, you run the risk of having to change your office location – which is not advantageous to anyone, much less to you.

Target audiences

You will surely be saying to yourself, “I want to open a doctor’s office, not an advertising agency, why should I be thinking about the target audience?” Quiet Doc, it’s just that, the secret of success.

As mentioned by the head surgeon at Better Body Bariatrics, for your practice to be successful, you can not rely solely on your professional skills and the kindness of your receptionist. You should see your doctor’s office – or medical clinic – also as a business.

And, as such, you should think about marketing strategies. One of them, and the most important, is the target audience of your practice.

“Who will be my patients?”
“What specialties will be met in the office?”
“What is my main objective?”
“How much would my patients pay for the consultation or examination?”
Ask yourself those questions and voila publico-objetivo!

Office location

Taking into account the target audience of your doctor’s office, choose a location that meets the needs of your future patients. I think the main thing to keep in mind is the ease of access to the site. As recommended by a realtor at Baja Rosarito Realty, make sure there are many bus and metro lines in the region, as this will allow the practice to be frequented by those who depend on public transport. On the other hand, it is also important to provide parking facility for those who have their own vehicle. I always say that real estate in the most central and commercial areas are more accessible and have more visibility, so you should have preference at the time of the election, even if the cost is higher.

Documentation

Like any company, before starting your operations you will have to have all the required documents and records.

In the case of clinics and medical clinics, there are some details that should be addressed directly to a person who is an expert in these legal procedures, such as an accountant.

On the other hand, it is also important to know the requirements of your local laws and regulations.

Attention: run behind all the paperwork in advance, as some processes tend to delay and you can not, in any way, start working without being with all the documents up to date.

Costs

Defined the target audience? The place where your clinic is going to run? Are you already with all the documents and records in your hand? Well, then there is only one step left to start putting to work (literally): financial planning.

In this step you will have to calculate the amount to invest in your medical center. To do this, you must do a search of all the necessary material to open your office:

  • Equipment
  • Decorative furniture
  • Legal work
  • Monthly expenses (rent, water, electricity, telephone, salaries, cleaning and hygiene products, hospital products, etc …).

Of course, this is just the start. According to the financial adviser at Molding Clinic, once this financial planning is done, you must calculate the costs for the implementation and operation of the establishment and divide it by the amount you will receive for private consultations. The return period may vary according to the size of the clinic.

The monthly income of a private medical office is in the range of between US $ 10 thousand and US $ 25 thousand (remembering that this is the gross amount, so the monthly expenses must be subtracted).

Administrative issues

Regardless of whether you are working alone in your office or shared with other professionals, you need at least two other employees.