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.
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 your name with friends and family, it’s how people will find you online. 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.
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, all revenues that don’t go into your pocket.
How do you get more patients into your practice? The answer certainly isn’t “by spending most of your time handling medical records and billing.”