Steps to Opening a New Medical Practice: Part Two

Steps to Opening a New Medical Practice: Part Two

Opening a new medical practice can be a daunting task, but the process is simple when following the right steps. This three-part blog post series will walk through the necessary steps your practice should consider prior to opening. Part one discussed what you should initially consider when opening a practice and selecting the right EHR.

Step 2: Determine Your Needs

Once you have started working with a salesperson from an EMR company, ask them if you can speak to an implementation specialist regarding getting started. Usually this person can help as a consultant to help you create a plan on running the practice and ensure don’t overspend on services or hardware you do not need. There are several things to consider as you startup:

  • How will you be billing (insurance vs. cash based / fee for service)?
  • Will you employ a medical biller or use an outside service?
  • Will you need a cloud based EMR or do you prefer office hosted?
  • What kind of hardware/tools will your new practice need?

How Will You Handle Billing?

One of the biggest considerations when starting your new medical practice is how you will be paid. Some business owners prefer to start with a “Cash Pay” option, where your patients pay for each visit as they come in. Others choose to hire an internal biller who manages payments through a practice management software. Many choose to use an outside billing service to manage claims. Have a conversation with your implementation specialist to determine which option is best for you and your practice.

How Will You Host Your Data?

Another item to consider is how best to host your software. Many practices are moving to cloud based or cloud hosted EMRS. Others are sticking with the conventional “Office Hosted” option, where your database is stored on your practice’s main computer or server. Again, please discuss what option is best for you with your implementation specialist. They will help you determine what option will be right for you, as well as what hardware would be required to make your office run smoothly. It is very important to know what software and tools you will be using in your office prior to purchasing hardware so you do not overspend, or buy equipment that is not suitable for your needs.

Part three of this blog post series will review your decision-making process and walkthrough final steps to make before opening your practice.

Visit Our Dedicated New Practice Page

Opening a new practice is a big undertaking; we collected useful information and a few key recommendations to help out as you embark on this journey. It can be helpful to establish a plan to execute your first steps in the proper sequence, once you know which tasks are prerequisites for others. This helps keep your startup on schedule and helps avoid costly delays. We hope the information we collected here can help you make key start up decisions with confidence and in a timely manner. Our team can help eliminate the headaches of opening a practice so you can enjoy the personal and professional satisfaction that comes with this exciting stage of your career.

Amazing Charts Medical Practice Consultants are here to help! Click here to visit our dedicated New Practice page for materials to assist you with what you should know and be aware of when opening your new practice. 

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