How To Find Money Factoring Resources
Money factoring is a short-term solution to help you maintain a steady cash flow in your medical practice. While factoring is not a traditional loan, it’s still important to shop around and a find a factor that isright for you. There are 3 effective ways to find a money factoring company: First, check trade publications […]
Purchasing A Commercial Condo
Are you ready to purchase a commercial condo for your medical practice? A commercial condo offers a variety of benefits for medical entrepreneurs in private practice or partnerships. Unlike other types of real estate, where up to 35% of the property cost must be put down in cash, medical professionals can purchase a commercial condo […]
Merchant Services – Payment Gateway
In order to accept credit card payments from your patients, you medical practice needs what’s known as a payment gateway. This service is responsible for processing credit card transactions each time a patient makes a payment. Every time a patient pays with a credit card, whether it’s in your office, online, or after receivinga bill […]
The Pros And Cons Of Leasing Vs. Buying
Popular wisdom would have you believe it’s better to own than rent. But does that rule still apply when deciding whether to lease or buy your medical office space? The pros and cons of leasing vs. buying are similar for medical entrepreneurs as they are for the general population, with a few important distinctions: Just […]
What to Ask for/Expect in Your Commercial Lease
When negotiating the terms of a commercial lease for your medical practice, you have a lot of power. Unlike residential leases, the terms of a commercial lease are not set in stone and can be tailored to meet the individual needs of each lessee. Here is what to look for and what to expect from […]
Group Practice vs Private Practice
Deciding whether you’ll go into private practice or group practice is one of the most important decisions you’ll make for your new healthcare business. Both choices offer advantages and disadvantages, and only you will know which type of practice is right for you as a practitioner. Entering into private practice gives you total control, both […]
What is a Commercial Lease?
If you choose to rent office space for your medical practice, the terms of your rental agreement will be outlined in a commercial lease. Much like a residential lease, a commercial lease is an agreement between a tenant and a landlord. The main difference is that with a commercial lease, you have permission to conduct […]
Market Assessment/Demographic Research
Before you choose a location for your new medical practice, it’s important to perform a market assessment of the location. A market assessment consists of demographic research on the patients, competitors, insurance providers, and policies that will influence business at your location. Armed with data-based projections for the future, you’ll be able to decide if […]
How To Choose A Medical Management Firm
As your medical practice grows and changes, your business needs are bound to grow and change as well. That’s why it’s important to choose a medical management firm with the experience and flexibility to guide the choices you make in your practice, both now and in the future. While you may start off hiring a […]