Opening a solo medical practice is a complicated venture. Two of the most important aspects (aside from cultivating your bedside manner and winning the hearts of patients) is securing the funding and getting your office systems coordinated. Creating a plan that focuses on expenditures and computer software upfront will help you focus on the patient on opening day.
It takes money to make money, the old saying goes. This is true when starting your own medical practice. Consult with a trusted advisor at your bank or the US Small Business Association about how to secure the type of business and personal loans you will need to build your practice from the ground up. You will probably need about $100,000 minimum to even open the doors. Equipment, staffing, and insurance will take a large portion of your operating capital before you make your first dollar. Purchasing pre-owned surgical equipment will … Read More