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The Mystery Of Medical Transcription

In House Medical Billing vs. Outsourcing

How To Choose A Medical Billing Company

Employee Benefits

Business/Casualty Insurance

Retirement And Estate Planning For Physicians

Events

How to get a DEA license

Merchant Services – ACH Payments

How to Choose a Medical Legal Firm

What Is Money Factoring?

Document Imaging

How to Find a Medical Management Firm

What is a Medical Commercial Building?

Building a Team of Experts

How to Find a Medical Legal Firm

How To Choose A Medical Doctor’s Insurance Company

The Best Software for Doctor’s Offices

How to Choose a Medical Bookkeeper

The Mystery Of Doctor Credentialing

How to Prepare a Cash Flow Analysis

Private Practice vs Hospital

The Mystery Of Medical Transcription

In-House Human Resources vs Outsourced

What is HIPAA Compliance?

Long-Term Care Insurance

HIPAA & OIG Compliance Plans

Life Insurance

Promotions

OIG Compliance

Advertising

Direct Mail Marketing For Your Medical Practice

Capital Funding Needs: Pre-Opening, Opening

Equipment Selection Process

How to Find a Medical Practice Lender (resources)

Medical Office Structure, Layout And Design

Recruiting

How to Purchase a Commercial Building

HITECH Act of 2009

College Savings Accounts

Patient Experience

HITECH Compliance

How To Choose A Medical Collection Company

Medicare And Medicaid Audits

What Is A Marketing Mix?

How to Find a Medical Bookkeeper

The Mystery of Doctor Credentialing

Build Or Buy: In-House Medical Coding Vs. Outsourcing

HMOs vs PPOs

What Is A Merchant Processor?

The Pros And Cons Of Money Factoring

Leasing Medical Equipment Vs Buying

In-House Human Resources vs Outsourced

Types of Commercial Loans for Buying a Commercial Condo

What Is A Commercial Condo?

Determining Location Options

The Medical Coding Company That Could

What is an NPI, difference NPI 1 VS 2?

Purchasing a Commercial Condo

What is Fraud Investigation?

The Mystery Of Medical Coding

What Is Practice Succession Planning?

Overhead Business Expenses

Patient Education

Communication Vs Branding

How to Determine a Timeline to Open Your Medical..

Information Systems and IT for Doctors

In-House Doctor Credentialing VS. Outsourcing

The Medical Coding Company That Could

Practice Publication Marketing

Practice Social Media

Capital Funding Lenders

How To Choose A Merchant Processor

Leasing Medical Equipment

How to Create a Draft of the Employee Handbook

How to Find a Medical Accounting Firm

How To Choose The Right Corporate Structure For Your Medical Practice

Practice Direct Mail Marketing

The Mystery of Medical Staffing

Doctor Credentialing With Hospitals And Insurance Companies

Must-Have Medical Doctors Insurance

How To Choose A Medical Transcription Company

Setup Your Practice

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What is Money Factoring?

Setting Up a New Practice

Your Medical Practice Opening Check-List

Logo Development

How to Choose a Medical Practice Lender for …

What is Medicare, Medicaid, etc?

Merchant services – credit cards

Mission, Vision, and Values

Asset Protection

Estate Planning

How To Choose A Medical Accounting Firm

Life Insurance

Physician Profile Development

Determine a Practice Name

What Is A Marketing Plan?

How to Determine a Timeline to Open Your Medical..

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How to Determine a Timeline to Open Your Medical..

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!.

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What is Money Factoring?

How can your medical practice stay afloat when it takes 30, 60, even 120 days for your customers to pay? The truth is that until you’re running an established practice, it’s very difficult to maintain a positive cash flow. One way around this problem is a process called money factoring. Money factoring allows you

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