Whether you are and experienced physician looking to leave a practice and open one of your own or fresh out of medical school and aiming to hang your own shingle, there are certain things that you will want to consider. All medical or dental practices have some of the same issues to deal with and same decisions to make. What will you choose?
You want your office to run as effectively and efficiently as possible. This means some decisions need to be made on the front end. For example, what sort of software are you going to use, and for what are you going to use it? Will you book appointments online through a website or via phone only? How will front desk personnel be trained? Will you bring in someone to train them on the software or will you send one for training and have that one train the rest? Will you do your charting electronically? Will your website offer the ability to ask questions via an email platform? These are all things to consider in the beginning.
Insurance Acceptance and Payment Policies
Will you accept insurance? Maybe there are some insurance companies you do not intend to work with. How will you handle patients without insurance? Will co-pays be due at the time of service or will you bill. Whatever your policy is will be your prerogative, but posting them on the front door, on the first page of the website, in every room, and anywhere else you can find to post them will be to your advantage. You cannot generate revenue without setting up payment systems.
This should probably be first, as it is likely you will not even have a practice if you do not find new medical practice financing. Physician loans are a little different, since most new doctors come with a lot of debt from their medical school loans. There is also the issue of cash flow due to insurance companies paying on their own time. There are options however.
If you are looking for funding for your medical practice, Biz2Credit can help. The lenders in our extensive network understand the unique needs of physicians when it comes to financing a medical practice, and they offer many options. Visit Biz2Credit today for more information.