It can be very intimidating to start a new medical practice. The current state of the health care industry seems to be constantly fluctuating based on new laws and rules. Private and independent practices also face a lot of competition from larger medical organizations.
With all this going on, it can be scary to know where to start. Luckily for you, we have come up with a medical practice checklist to help you get started. So keep on reading and we will take you through everything that you will want to know!
Prepare the Practice
The first step to starting your new medical practice is going to be choosing which kind of medical practice you want to run. You’ll probably want to choose between traditional, concierge, and direct primary care.
Get Malpractice Insurance
A malpractice lawsuit could end up being detrimental to your business. This is why it is so important that you acquire malpractice insurance.
When you are looking around for medical liability insurance, you should ask the insurance providers if they also offer personal life insurance, health insurance, and corporate insurance coverage.
You also want to make sure that your business is following proper HIPAA compliance.
Set Up a Fee Schedule
Another important part of setting up your organizing operations is to come up with a fee schedule. This is a simple list of all of the services that you will offer and how much money you will charge for each.
One of the best ways for you to do this is to see what other companies in your area are charging.
Ask your colleagues for a copy of their fee schedule so you can get a better sense of what you should charge. See what adjustments you need to make so that your company can stay above water.
Delegate Employee Roles
This is the stage where you want to know how many crew members you are going to need to help run the practice. For example, a doctor who decides not to outsource billing and expects to have a lot of patients would assign an employee to handle scheduling and billing. They will also want a medical assistant or nurse.
Also, medical practices that depend on medicare reimbursements might want to hire a compliance officer to make sure that all requirements are being met.
The Importance of Having a Medical Practice Checklist
Hopefully, after reading the above article, you now have a better idea of what items you should have on your medical practice checklist. As we can see, there is a lot that needs to be done before you can get your medical practice up and running. But by following the checklist above, you should be ready to start your business without an issue.
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