New Practice Start-Ups

After much deliberation and research, you have decided to start your own practice.

Whether launching a solo practice or a venture with multiple colleagues, careful planning is the key to ensuring your success. Planning and hard work will assure practice success and growth. Physicians starting a new practice must develop and follow a sound strategy to open an efficient and profitable practice in a timely and cost-effective manner.

Physicians must undertake many actions to prepare the practice for the first patient. Proper sequencing of these actions and events will enable everything to proceed smoothly. You will want your facility and operations to be set up so that you can provide the best medical care possible while securing timely payment for your services.

A first step would be to interview and select trusted advisors for your practice.
Some of these professionals would include:
  • Certified Public Accountant (CPA)
  • Attorney
  • Insurance & Risk Management Consultant
  • Real Estate/Architect/Construction Advisor
  • Financial/Banking Professional
  • Marketing Specialist
  • Physician/Business Coaching
Their knowledge and experience will be critical to a smooth start up.

These professionals will help you with the planning and implementation required for the launch of your practice.

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