Starting a medical practice from the ground up – your complete guide

Are you thinking of setting up a medical practice from the ground up? Congratulations! Your decision marks a significant turning point in your professional career. Before you dive in, get the lowdown on what you should consider.

A smart medical practice business plan is built with efficient, agile and scalable processes in mind. It also ensures patient care remains a top priority.

To help you navigate your way, MedicalDirector is pleased to announce the release of our new free ebook, ‘The Smart Guide to Starting a Medical Practice’.

We’ll walk you through how to start a medical practice from the ground up.

From getting your medicare provider number to opening the doors on your own business, we’re here to help. You’ll find out how to:

Start your own medical practice business plan and what to include if you’re starting a private practice
Calculate set-up costs (including medical equipment, business insurance, medical supplies, medical indemnity insurance, professional indemnity insurance and other things you might not have considered)
Use technology effectively to help you operate in a streamlined, efficient way and maintain a healthy cash flow
Attract and retain the right team of medical professionals, including a practice manager who supports your practice vision
Avoid some of the common pitfalls that healthcare providers often face when setting up their own medical practice
Minimise risk and plan for the future success of your medical practice.

Get tips from leading health, finance, business and technology experts. Discover helpful checklists, infographics and tables to help get you organised and set you up on the path for success with your own practice.

Your guide to starting a medical practice from the ground up

As a new practice owner, there’s no sense doing things as they’ve always been done in an existing practice. MedicalDirector’s CEO, Matt Bardsley explains. “Healthcare is undergoing significant transformation. There are changing patient expectations, increased competition, digital transformation and tighter health data reforms. This means medical practices need to keep up with the pace of change if they want to deliver the best patient experience and optimise health outcomes. In this ever-changing landscape, traditional ways of setting up a practice won’t set you up for success.”

How will you provide the best outcomes for your potential patients?

According to Bardsley, a future-thinking business plan for any successful practice should begin with this premise. Every dollar spent in healthcare needs to contribute to the most efficient and effective way to provide the best outcomes for patients.

“Leveraging the smartest, most innovative practice management methods from the start will help empower your practice to boost efficiency, streamline and grow,” he added. “At MedicalDirector, what drives us in achieving our vision that together we can make people healthier around the world, is to add greater value to the digital assets a practice needs. This is in order to increase the serviceability and demands of the market.”

A future-focused approach to delivering patient care

In this ebook, we break down how to adapt your business plan to meet today’s highly digitised and personalised medical landscape. This way, your private practice can play a more pivotal role in delivering exceptional patient care in the long-term – and pave the way for an exciting future in healthcare.

“Greater efficiencies and smarter ways of setting up your medical practice will enable you to grow your reputation as a leader in your industry, while balancing your work and lifestyle in a way that suits you and your family best,” Bardsley said.

Are you starting a medical practice from the ground up? If you want to get it right first time, download our free ebook: ‘The Smart Guide to Starting a Medical Practice.’