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.