Most physicians do need financial assistance to get a new practice up and running. How long it takes to get the money in your hands depends on the type of loan you apply for.
You're ready to venture out and start your clinic in Texas, but medical practice funding still seems a mystery. What medical practice startup costs do you need funding for? How much does it cost to start a medical practice? You need answers to these questions before you can start figuring out how to get a loan to start your medical practice.
Here's what you need to know:
What’s in a name? It turns out that names are very powerful, especially when you’re selecting a name for your practice. Your practice name is how patients will share recommendations with friends and family. It’s how people will find you online, and it’s the cornerstone of your medical practice’s identity.
Although it’s never easy, there are times when terminating a patient from a medical practice is absolutely necessary. Many of those instances involve non-compliance, which can take the form of:
You have to spend money to make money, but in order to maximize your profitability, you need to keep medical office operating expenses under control before they eat your practice alive (not unlike an antibiotic-resistant MRSA).
Medical practice management consultants analyze your practice and figure out where you can streamline processes and save money. They may also provide managerial services for your medical practice.
If you’re looking to start a medical practice in Texas, you may be wondering “How the heck do I do this on my own?” or “Where do I start?”
We provide this exact guidance for clients every day. Like any major project, the key is to divide and conquer.
Here’s our working checklist for starting a medical practice in Texas, in no particular order of importance.