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Ten Questions To Ask Before Starting a New Medical Practice

Updated: Mar 3, 2020

  1. Can I go without any income from a new practice for 3-6 months?

  2. Do I have another income stream or can I continue to work part-time at a hospital, urgent care, or with another employer while I’m building my practice?

  3. Can I envision starting my practice by myself with no staff?

  4. Do I have an existing patient base who will be interested in joining my practice?

  5. Is the community in which I want to work underserved or overserved in my specialty?

  6. Do I have a cash component to my practice that can help defray expenses while I’m building an insurance practice?

  7. Will I be able to count on unpaid help from my spouse, family or friends to get things started?

  8. Will I be satisfied to start my practice by leasing space from another practice, or at a less-prestigious location that might not be my forever-location?

  9. Am I willing to shop for gently used and refurbished furniture and equipment for my medical practice?

  10. Will I be satisfied to use a bare bones EHR, even if it doesn’t have all the bells and whistles I want or am used to?

Starting a new medical practice is not easy. No one should tell you that it is.

But, if you want to put in the work, make the decisions, and ultimately, practice the way you want to, then a solo practice may be a fit for you.

You may have to call your friends and family together to help you, and you may have to work someplace else while you’re building your practice, but the good news is, you can be the boss of you.

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