If you are considering striking out on your own and opening your own brand new medical practice, now is the time to act. Demand for medical practices of all kinds is currently soaring across the US. As a medical practitioner and small business owner, you won't find a more favorable climate in which to start your own practice.
Of course, opening a new medical
practice is easier said than done. You must navigate a maze of regulations and
procurement challenges before you can even open the doors of your new practice.
Fortunately, we're here to help. Check out these five medical industry tips
that will make opening your new practice easier.
1.
New Medical Practice Essentials
If you are opening a new medical
clinic, the best thing you can do is know the essential tasks that you need to
complete before you can begin serving the public. A good place to start is
with your business requirements, before moving on to your healthcare industry
requirements.
This means choosing a suitable
building to house your practice that is easily accessible. It means deciding on
your business model, opening up a medical practice checking account, and
getting your employer identification number (EIN). All of this can be done in
less than a day.
2.
Prioritize Paperwork
Next up, you should focus on the
medical industry paperwork that you need to legally begin your operations. You
will need to get all of your medical qualifications and credentials in order
and ensure they are up-to-date. Take any re-training that might be necessary.
Next, get comprehensive medical malpractice insurance, as you should not see a
single patient before you have this in place. Next, set up your fee schedule,
based on current market rates for the services you can provide to
patients.
3.
Software is Key
Few people realize just how digital
the healthcare industry is these days. In order to provide the best possible
service to the widest possible pool of patients, you need to invest in the
correct, HIPAA-approved
software. Make sure to choose an appropriate electronic health records (EHR)
system to securely manage patient data. Consider using an electronic
appointment booking system and outsourced medical IT management service to keep
everything in order.
4.
Don't Forget Operations
It is crucial to have everything in
place to ensure the smooth running of your day-to-day operations. One
incredibly important thing to have in place is your cleaning services. Hire a
HIPAA-compliant medical cleaning company that can keep your practice sterile
and in line with safety regulations 24 hours a day. You can read more here
about what the best medical cleaning services can offer your practice.
Remember, this one is not an optional extra, it is a legal and medical
necessity.
Better
Business Practice in 2022
We're here to help you make smarter, more empowered business decisions in 2022 and beyond. For actionable business tips that you can use on your entrepreneurial journey, we have got you covered. Make sure to consult our insider Business guides to learn more.
