If you are fresh out of medical school and already thinking about heading into private practice, well, we wouldn’t blame you. The money just isn’t there otherwise and you’ll be struggling with long hours as well as difficult patients. We’re not saying you won’t find difficult patients in private medicine. But, at least you’ll be paid more to deal with them. In fact the situation has gotten so bad that junior doctors in the UK are currently planning a strike. So perhaps, it’s not just the patients that are getting a rough time. The doctors aren’t having it as easy as we once thought either. That’s why you might consider taking things one step further. You might set up your own private medical practise. What exactly would you need to do for that?
1. Get Funding
Ah it always starts here doesn’t it. It doesn’t matter what the business is that you’re trying to set up you always need one thing and that’s hard cash. There are a number of different options you could take to get it as well. You might want to speak to the government. They might be willing to back you. Particularly if you’re trying to set up in an area that desperately needs more doctors and nurses. Or, you might take out a private business loan. Be wary of the type you get though. A Short term loan is easy to grab but not as easy to pay back. The interest rates are huge so if it takes a while to get started you’re looking at a huge bill. It’s also wise to share this risk between you and a partner. If you’ve just come out of medical school we advise you look for someone who’s interested in the same type of venture. Or, you might want to recruit a partner who has got some experience and a big list of patients.
2. Buy A Property
Unfortunately, you can’t run a medical practice out of your house. Or, we suppose you could. But we don’t imagine you’d get a lot of patients. It sounds a little too similar to the setup of a horror film. So, you will need to use some of that money you borrowed to buy a property. We recommend you look for a place where the demand is high. In the country, you often find town populations have to travel half an hour to their nearest doctor. If you set up somewhere like that, you’ll already have a strong demand for your services.
You will need to kit your practice out with all the necessary equipment. But these days that’s quite easy. You can find it all from a company like Kemper Medical. They’ll provide you with the safety equipment that you need as well as things like exam tables. Once you’ve bought all the equipment you need, you might be ready to open.
4. IT Software
Lastly, everything runs on computers these days. You’re going to need some software to make sure you can manage patient files and keep data secure. After you have that setup it’s time to start hiring. We wish you luck with your new private practice.