Timing is Everything: Starting Your Own Medical Practice

Medical Practice

Medical PracticeEven before you start your residency, you should decide on your answer to a particularly important question: Should you start your own practice, or would you rather be a hospital employee? For most doctors, it’s the former if they had the choice.

The reason is simple: more autonomy. It enables you to make better and faster decisions for the betterment of your patients. Your own medical facility also means your own business. It’s rewarding while at the same time freeing.

When should you start planning?

As early as you can. Timing is essential. The best moment to decide and begin the planning stages for your new medical practice is when you’re still doing your residency. Don’t wait until that’s over, because you don’t want to be stuck. You’ll have meetings with accountants, lawyers, real estate agents, possible employees, and other people who also understand the urgency of the situation. Nobody starts a practice alone.

You need technology on your side

Technology is perhaps the most urgent thing in the world; it changes every day. If you don’t start early, you could buy outdated tech and your practice may suffer. For instance, wholesale personal emergency response system monitoring could be one of the things that will allow you to help some of your patients. Don’t hesitate to get some assistance from central station alarm monitoring firms when things get complicated for you. If you’re not ready by the time your orders arrive, they will sit there and might get left behind by newer models when you’re up and running.

Recruiting takes time and mastery

You can’t hire the first person you meet; hiring takes time and skill. You need a staff that’s as motivated and invested in the practice as you are. This means getting people who have the personality and the skill that fit your culture, and quickly getting rid of those who can’t contribute. Don’t try to hold someone’s hand hoping they’ll be ready in time. You’re running a medical facility; time is always of the essence.

Starting a practice without a clue is the worst thing you can do. Start early, plan everything, do your research, get a mentor if you have to (recommended), and be up and running in no time.