How to Open a Successful Private Clinic of Your Own

How to Open a Successful Private Clinic of Your Own

The majority of trained doctors dream to have their own medical practice one day. Here’s a guide on how to successfully open your own private clinic.

When you began medical school, you probably dreamed of starting a private practice someday.

Now you’ve graduated and have established yourself by working for a hospital or other medical facility. That dream may seem like it’s getting closer every day.

Opening a private clinic is hard work. However, it’s one of the most rewarding achievements in the medical industry.

If you feel it’s time to go off on your own, keep reading. We’re going over some steps you’ll need to take to open your own private medical practice.

Develop a Business Plan

Your first step is to develop a thorough business plan. This will be your guide when setting up your clinic’s infrastructure. You’ll also need it to get financing.

You must include a projection of all your expenses along with the revenue you anticipate over the course of the first three years. Your expenses should account for everything from equipment to the lease on the building you occupy.

Your business plan should also define your target market. You’ll need to think about what type of clientele you plan on attracting.

Then, lay out your marketing strategy. How do you intend to brand your clinic and what means will you use for getting new business?

If this seems overwhelming, you may want to seek the assistance of a business strategist or attorney.

Get Financing

Obtaining the proper financing is crucial to starting your clinic. Unfortunately, many doctors have extensive debt as a result of medical school, which makes this process a little harder.

Many financial institutions have a medical division that works to provide loans to healthcare professionals. They understand the challenges facing doctors and can help you get funding.

You’ll need to submit your business plan along with a loan request. It’s important you’re conservative with your expenses in your business plan, especially with regard to your medical equipment.

Make sure you submit this to several banks. This will allow you to see a number of different offers and their terms.

You’ll then have to wait for the banks to review your business plan and decide on an offer.

Pick a Location for Your Clinic

You can now start looking for a location for your new clinic. This is where your dream starts coming to life.

There are a number of factors you need to consider when picking your location. One of the most important is your target patient. Your clinic has a better chance of thriving if it’s located close to your clients.

You also need to consider the aesthetic of your office. Providing an inviting atmosphere is very important and will increase your patient retention. Also, keep in mind this is where you’re going to spend a lot of your time too.

Make sure you also consider things like ample parking and office space. The property you choose needs to facilitate a smooth workflow.

When starting out, it’s probably a better idea to rent. If you like the property, you can opt to purchase it down the road.

Obtain the Proper Equipment

Once your financing comes through and you’ve chosen a location, you’ll need to obtain all the equipment needed to operate a private clinic.

The medical equipment you need depends on the type of practice you’re opening. You’re the expert when it comes to this equipment. Just make sure you leave no stone un-turned.

You’ll also need to obtain computers and a communications system for the office. This will handle external and internal communication.

Your waiting room will need furniture. Try to provide a comfortable and warm environment for your patients.

Finally, you’ll need to obtain all the office supplies your front office staff will need to conduct business.

When outfitting your clinic, look into leasing options for your medical equipment. This may help cut some of the initial cost.

Staff Your Clinic

It’s time to start deciding on the professionals who will staff your clinic. You’ll need to start this process early so everyone is ready to go when your doors open. During the hiring process, be clear about when you plan on opening.

This is another area that depends on your particular practice. However, it’s likely you’ll need certified nurses and a front office team.

Write out detailed job descriptions and post ads online. You’ll also need to nail down the types of benefits you’re going to offer each position.

It’s very important you choose staff members who understand your values and are on board with the overall goal of your clinic. In addition, great communication skills and a pleasant disposition is very important in the medical industry.

Decide on Your Billing Process

Billing is a huge component of any medical facility. The type of billing system you implement plays a big role in patient satisfaction and the workflow of your clinic.

You may want to consider outsourcing your billing if you can afford it. This will take much of the workload and confusion off your staff.

However, it’s possible to successfully perform the billing and claims process in-house. You’ll need to choose a reputable medical billing software.

If you opt to do things in-house, you’ll want to hire someone who has experience with this process. They can then help other front office staff members get acquainted with it.

If you have relationships with doctors who run a private practice, ask them how they handle their billing services. You’ll likely get some good advice for starting out.

Market Your Practice

When you’re closing in on an opening date, you’ll need to start marketing your clinic.

An online presence is necessary, so consider investing in a professionally designed website. Make sure it’s mobile-friendly so people can locate you on smartphones and tablets.

You may also want to initiate a direct mail campaign for potential patients in the area. This will make them aware of your presence and inform them of the services you provide.

You’ll also want to claim your Google My Business listing and advertise in any online medical directories in your area.

Set the Foundation for a Successful Private Clinic

Opening your own practice can feel intimidating. However, by taking things one step at a time and making smart decisions, you’ll set yourself up for future growth.

Use these tips when forming a plan for your private clinic. You dream is right around the corner.

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