So you’re ready to open your own medical practice. Congratulations! But how can you tell if you’re just ready in theory, or if you’re actually ready to admit your first patient or client? The key to opening the doors to your very own practice is to determine a realistic timeline that will set you and your practice up for maximum success. If possible, give yourself a minimum of 12 months to open your medical practice. One year before you open, make sure you have all the proper medical training and certifications needed to practice independently. If you don’t, you’ll still have time to acquire additional certifications.
6 months before opening, you’ll need to:
- Set up a corporation or LLC
- Acquire a federal tax ID number
- Begin the credentialing process
- Start interviewing potential staff
5 months before opening, you should:
- Choose a billing company
- Choose an EMR program
- Start looking for a facility to house your practice
4 months out, you should:
- Hire a tax professional
- Obtain malpractice insurance
- 3 months before opening, don’t forget to…
- Rent office space
- Have phone lines installed
2 months before opening, you will….
- Apply for city permits if needed
- Begin marketing your practice 1 month before opening, you’ll….
- Turn on utilities
- Hire and train staff
- Get a credit card machine and merchant account
- Create patient intake and followup forms
There is a lot to do before the grand opening of your practice. But with ample pre-planning at least one year in advance, you’ll have plenty of time to get all of your ducks in a row!
To learn more about doctor credentialing, insurance, coding, outsourcing, and everything you need to establish a successful healthcare practice, follow all of Sherlock Doc’s adventures on the DoctorsBusinessNetwork.com or Doctors Business Channel on YouTube!.