When starting a medical practice, or forming a small group, a LOT of customization needs to be done to avoid problems. Using a medical practice startup consultant can make life much easier than just using a startup checklist. A checklist is general in nature and doesn’t consider the unique factors of your personal situation. Medical practice startup costs vary widely by specialty, location, size, and business plan but most can be done for under $100,000 including everything from consultants to attorneys to CPAs to furnishings, excluding specialist instrumentation like lasers or ‘scopes or surgery suites. If you have to build-out a new space in an empty “shell”, costs rise quickly, so it’s best to start your practice in an existing built space if possible, but that’s not always possible. There are a number of specialty banks that will provide you a practice startup loan of 100% of costs while your AR builds up. For those reasons, the knowledge and expertise of a medical practice startup consultant can help you arrive at the best long-term decision for your business.
There are hundreds of little steps to starting a practice (medical, podiatry, chiropractic, etc), and each one needs to be correct during the build-up. Goals need to be realistic, and financial projections reasonable. As medical practice startup consultants, we can guide you through every step and help you reach your goals.