Starting a medical practice – 3 things you need to think about

Starting a medical practice is an exciting time but if you want to hit the ground running, you need to do it the right way. This means planning ahead to ensure that everything goes smoothly with your setup and you have the right systems and people in place from day one. 

Here are a few tips to help you with the planning stage.

1. Think about the technology you’ll use 

Technology is the foundation of any successful medical practice. The right technology will help your practice run smoothly and efficiently. The wrong technology can be a drain on your time and resources so it’s important to choose carefully. Think about your current and future needs, and look for a technology solution that will help you meet those needs and grow.

If you want to be in a strong position for the future, you may want to choose a cloud-based technology solution. The cloud offers extra flexibility, security and convenience and it can often be a lower cost option than a more traditional on-premise software solution. When you consider the server costs that come with an on-premise solution, not to mention the ongoing IT costs for regular maintenance and upgrades, it may make sense to consider the cloud. 

2. Look at ways to minimise costs

When you’re starting a medical practice, you’re not likely to have a lot of spare cash so it’s important to think about your expenses and find ways to minimise them wherever possible. Consider everything from design and fitout to clinical equipment, IT and staff recruitment and training. 

You might be keen to get up and running, but sometimes a small delay to help you work out the most cost-effective solution can be the best option as it could potentially save you money down the road. 

There’s no one size fits all when it comes to setting up a healthcare practice – your costs will depend on the type of medical practice you’re starting and where you are based. As well as one-off setup costs, you’ll want to factor in your running and ongoing costs when creating a budget. 

3. Consider your hiring needs

Your people are the main driver behind whether your business will succeed or fail so you’ll need to think carefully about your staffing needs and make sure you’re hiring the right people for the right jobs. This includes not just medical staff but support staff as well.

As well as thinking about the type of people you want working for you, you should also consider what you can offer them. Competition for top talent can be stiff and the best employees will be looking at more than just salary when deciding whether to work for a particular employer or not. If you’re able to offer flexible working conditions, work-from-home options and other perks, you stand a good chance of attracting the very best. 

Recruitment and training are likely to take up a large part of your budget and if you hire the wrong people you’re going to have a high staff turnover, which creates additional costs. When you do find your perfect employees, make sure they’re well supported with the right tools and technology so they can do their jobs easily and efficiently. 

With the right planning, starting a medical practice can be an exciting and potentially lucrative adventure. Make sure you pay attention to your technology, costs and people if you want to position yourself for future success.