Have you decided to start your own medical practice? Are you looking to open a concierge practice, specifically? It can be a difficult journey, but it's worth it! To make things easier on you, new physician entrepreneur, we've compiled some expert advice from around the web. Take a look!
"The Association of American Medical Colleges estimates that there will be a shortage of 91,500 doctors by 2020 as the Obamacare insurance coverage provisions are implemented and 30 million Americans become eligible for health insurance coverage."
- Dike Drummond, The Happy MD
"Patients will "chose you or lose you" just based on who you hire. We started with just one employee to answer the phone and added more as we got busier."
- Linda Girgis, MD, FAAFP in Medical Practice Insider
"If you’re the only pain management specialist within a hundred mile radius, then you’ll own the market, at least until another pain management specialist moves nearby. The same applies for either high-end concierge or low-cost concierge services."
- Jason Hull, Hull Financial Planning, for Physicians Practice
"As a physician, you are very familiar with different types of practices and different models, and you know the advantages and disadvantages of each. Patients, on the other hand, are not familiar with all this information, and it is your job to educate them on why you are choosing to become a private physician, and how it will benefit them."
"...There are several attractive business models that could be implemented and be suitable to a specific demographic and geography. But you must write a business plan with a practice model in mind that is suitable for your local area and demographic makeup. The business plan you write for your future practice must make sense to those whom you will serve."
"Typically, there's a period after start-up when income goes way down as patients decide whether to stay. It often takes a good two years to bring the patient level up to where it should be."
- Allison McCarthy, Corporate Health Group, in Medical Economics
"Some physicians don't realize that there is a high level of customer service that they're going to have to market to their patients, not just that you're going to give them your cellphone number."
- Helen Hadley, VantagePoint Healthcare Advisors, in MedScape
“I tell physicians this is not entirely a recipe to work a lot less and make a lot more. It is just a different, more satisfying, type of work."
- Tom Blue, AAPP Executive Director, in Profitable Practice
"I get home by 5 or 5:30 at the latest,” Izbicki says. “My paperwork is complete. I leave smiling, I’m happy, I’m not grumpy and irritable. My life has gotten a lot better. I feel like a professional, that I’m doing what I signed up for.”
- Dr. Jonathan Izbicki, Izbicki Family Medicine, in U.S. News Health