SHOULD YOU SET UP A PRIVATE PRACTICE?
Whether you are leaving a public system or another private one, setting up your own private practice can be the goal for many. However, you need to make sure that you are fully prepared to meet some of the challenges that can come with such a business. Let’s take a look at some of the factors that you need to consider.
The location of a private practice is always going to be incredibly important. It can often dictate the types of clients that you are going to receive. For example, if you wish to be a family doctor with the aim of becoming a pillar of your local community, a practice should be centred as close to the middle of the community as possible, near public transport links, and should have a carpark for patients who wish to drive to you.
Considerations should also be given to the building itself, particularly if you intend to have a lab on-site rather than send out samples to another. You need to make sure that the building you select for your practice is able to meet the needs of your staff and your patients.
It is important to treat this private practice as the business that it is. No matter what, you need to make sure that you have a good business strategy at the heart of the practice. Since your talents might lie with care-giving and medicine over business acumen, you might want to consider hiring an experienced practice manager who is able to help you out here. They will help to ensure that this side of the business is viable, so that you can then focus on delivering the best care possible to your patients.
You also need to ensure that you have all the other aspects of business covered, from insurance to employee contracts and more. Having key insurance policies like medical indemnity can be crucial in helping you protect the business that you are working so hard to build. Find out more about medical indemnity and some of the other policies that you should be investing in to create a good business that will stand the test of time.
When you announce that you will be leaving your current place of employment, what will the reaction of your patients be? Do you think that they would be willing to move with you? You need to lay the groundwork for a smooth transition of data and patient records if you are going to be retaining their custom.
You also need to make sure that you come up with a plan for attracting new customers. Since this is a company of your own, you need to ensure that you have the means to attract new business, no matter what. Word of mouth is not enough – you need to make sure that your practice has a marketing strategy that can be used to get your name out to potential patients who are searching for somewhere new.
The healthcare world can be very difficult to navigate, but there are plenty of opportunities out there for those who are willing to chase them down. Sometimes, this can mean leaving an established institution and setting up your own. You could have a speciality that you wish to focus on, or you could just want to become the best general practitioner in your local area. Opening your own practice will take a lot of work, but it could prove to be one of the best decisions that you ever make for your career. Take a look at the opportunities your own practice could offer you.