The Real Cost of a DIY Medical Practice Startup
Opting to put most managerial tasks on your shoulders instead of relying on outsourced services and consultations may seem appealing when starting a medical practice. It is possible to establish a practice without paying for outsourced services, but you can miss out on crucial growth opportunities.
Bogged down by managerial tasks and fumbling through the new responsibilities necessary to run a successful practice leaves little time to focus on profitability. Outsourcing frees up time to implement a robust marketing plan that draws in more patients — enabling you to see more patients in the first few years of your startup practice.
A “do-it-yourself” approach can also lead to a significant loss of revenue if you do not get credentialed with the appropriate insurance provider. This can result in missing out on two potential patients each day, resulting in a loss of $300 every day and up to $6,000 per month. These losses can happen even if you have an effective marketing strategy in place.
A standard practice startup checklist might bring the hidden costs of starting a medical practice to your attention. These costs include:
- Implementing practice management procedures
- Enhancing patient experience
- Staffing
- Procuring equipment and supplies
Being aware of these costs is the first step to creating a robust business plan, but experts like us who help erect multiple profitable medical practices can offer saving-savvy procedures to deal with hidden costs and help you achieve your financial objectives.
Medical professionals who rely on expert outsourced services and consultants have more time and energy to offer personable, compassionate patient care that sets them apart from other practices. With a reputable reputation, your practice can flourish.
DoctorsManagement is more valuable than a comprehensive list on paper. We are real people with real experiences who enable you to avoid costly mistakes and handle time-consuming tasks. We will help you determine the timing and order in which certain tasks must happen and guide you through the process with our experience setting up medical practices in almost every healthcare specialty.
Contact Us
