Opening up your own practice is the dream of many doctors. It’s rewarding for any medical professional, giving you the chance to follow through on your career goals and directly influence the care your patients receive. But opening your own practice can be fraught with complexities and difficulties. You are essentially running a small business, but your training and speciality are as a medical professional.
That’s why we’ve put together these common mistakes which doctors make when starting their own medical practice.
Not having a proper profitable business plan
The first essential step to opening a medical practice is to build a realistic yet profit-driven business plan. Creating a proper business plan not only allows you to receive finance from banking institutions but also allows you to give clear information to your staff and plan for your long-term growth.
A thorough business plan requires an understanding of laws and regulations, as well as a vision for your practice and what unique selling point your practice will have.
Not investing in the right insurance
No matter what your plan for your practice is, investing in medical indemnity insurance is essential. Insurance provides the necessary protection for civil and legal issues that can arise when dealing with people’s health.
Implementing proper and well-planned policies are essential in protecting yourself and your staff from legal liability. Anything from faulty equipment, not enough protection from x-rays, or a lack of high-quality facilities can lead to liability. One unclear procedure can lead to years of civil cases and hundreds of thousands in legal claims. That is why Dentifit provides ongoing fitout maintenance and repairs, helping to ensure your practice avoids any possible legal liabilities.
Not thinking strategically about your location
So many doctors are that eager to open their practice that they forget about the importance of choosing a strategic location.
There are countless location factors to consider when choosing where to open your practice, from public transport accessibility, local area demographics, and town council regulations and bylaws. That’s even before you can decide if you want to rent or buy a location. Not choosing a strategic location is the difference between the success of a practice, or a very quick and costly failure.
Our expert team at Dentifit have years of experience helping doctors like you in the initial site investigation phase. By helping doctors find the right location that suits their and their potential clients’ needs, we’ve been able to help their practices succeed from before they even have signed a lease.
Not clearly planning the design of your practice
A clean, friendly, and well-designed practice can be the difference between a patient being a one-off visit or becoming a regular, returning patient. A patient might be well treated and cared for by staff, but their entire visit can come down to the lighting in the waiting room or the colour of your hallway wallpaper.
That’s a lot of finicky issues you have to think about, and you haven’t even had your first patient walk through the door yet. You’re a doctor, not a designer. You are out there helping people with their health. You shouldn’t have to worry about lampshade materials or what type of microwave to put in the staff kitchen.
The experienced designers Dentifit that have been providing specialised and tailored services for medical practitioners for over a decade. We know how to not only make your patients feel comfortable and your practice to suit the modern medical workplace, but also how to ensure your practice fits required bylaws and regulations.