Depending on the nature of your specialty, a large amount of supplies may be consumed by your medical practice. These items range from tongue depressors and table paper, to medications such as lidocaine and Penicillin for IM injection. Then there are the special purchases such as the flu vaccine, tetanus shots and the myriad of [...]
Archive | May, 2009
Buying or Selling A Medical Practice
One way to jump start your own private practice is to buy one already operating. Many practicing physicians hope to sell their medical practice when they retire, either to their current partners or to a physician or group of physicians finishing their training. Buying or selling a medical practice is not like selling a car, [...]
Developing Medical Office Protocols
As you get started, and as you reassess your progress and results, you’re going to want to have standardized protocols for many of the activities in your medical office. These can be bound together and serve as the core of your employee manual which is useful for your new employees, and I believe can become [...]
Arranging the Financial Puzzle Pieces of Private Medical Practice
Let me start by reminding you I am not an accountant or lawyer. I want to give you my suggestions of how to set up the private medical practice’s financial parts when opening your practice. You and your accountant should review your plan before you do the same. I’m hoping the financial advisors on [...]
Buying Equipment for a Medical Office
This is going to be a short post as I really only want to make one main point. When you’re getting started resist the urge to buy any piece of equipment new. You need to manage your available cash and not max out your credit getting set up.
See One, Do One, Teach One
All physicians know the adage “See one, do one, teach one” from medical school and residency training. Typically it’s used in reference to some procedure we need to master, like starting an arterial line or putting in a chest tube, etc. While it over simplifies the learning process we all go through, because we usually [...]
Improve Outcomes in Private Medical Practice
It’s all about “outcomes” these days. I’m referring to all the initiatives to measure and compare the clinical care we provide against the results. Much of medicine can be measured with datapoints, but because medicine is as much an art as a science, in my opinion, these new initiatives probably miss the benefits obtained with [...]
Your First Medical Office
You’ve picked a name for your private practice, you’ve become incorporated and now you need to find the office space that will soon become your home away from home. I’ve gone through this process a few times, finding my first private practice office then moving and adding offices, and I learned something new each time. [...]
What's in a Name?
Deciding your new practice’s name is an important task, and one you need to accomplish as one of your first practice start-up steps. I found the job surprisingly difficult. I’ve started two practices in my life and my first one was eponymous, with a “P.C.” tacked on the end. That was a big mistake
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