Starting a Medical Practice: Bird’s eye view

It has been hard for us doctors to find out information about how to start a medical practice. Well! Not anymore. I will be writing more on how to start a medical practice from scratch. Most of the information is however general so please get specifics for your particular situation by doing research.

There are few common basic steps to start any kind of business. Then there are steps needed additionally for starting a medical practice. I will try to summarize these steps in the shortest possible way so that we can get a bird’s eye view. In later posts we will go deeper into each aspect.

Following are most of the steps you need to go through (either simultaneously or in sequence)

1)       Choose a name for the medical practice.

2)       Get a lawyer.

3)       Get an attorney.

4)       Register the medical practice as a company or corporation.

5)       Get a Business License

6)       Get financing for your endeavor

7)       Find a place to do business

      Get a telephone / Fax line

9)       Get insurance- Malpractice, Business etc.

10)     Hire Staff

11)     Develop a Marketing Plan

12)     Get Furniture

13)     Get Equipment

14)     Contract with Insurance Company

15)     Establish Medical Billing

16)     Open the Doors.

The only reason everybody says it is hard to start a medical practice is because there is so many things to do. But if you systematically approach them it is not too difficult to do.  In the future post we will discuss more details of each step. But as before, if we get emails about a certain topic to be published earlier, we will certainly consider that.  I do moderate these discussions and comments to ensure readability and keeping the site clean for our readers.