Are you looking to start a medical practice? 99MGMT has compiled the ultimate list of medical practice checklists, tips, and forms to help you get your business up and running!
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:
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).
Research shows that today’s average medical practice overhead is actually between 60% and 70%.
Overhead is calculated as costs as a percentage of revenue. Basically, this means any and all revenues that don’t go into your pocket.