Did you know credentialing can take up to 120 days? If you’re looking to open one of the many family medical practices, it’s something you will need to understand moving forward.
There are some things you need to know to pull off the opening of a medical practice and we’re here to help. Here is a brief guide that will help you open the doors to your medical practice in no time.
Secure Funding
One crucial step for most medical practices is securing the funding needed to get started. The best way to estimate and present an accurate description of your startup costs begins with a professionally written business plan.
In this business plan, you need to detail everything from the cost of daily operations to how you intend to use some of the funds to purchase some ventilators for sale.
Investors want to know where their money is going before they determine whether your practice is worth investing in.
Receive Your Credentials
Before you’re able to provide any form of medical care for patients you need to obtain your credentials. Credentialing is important because without it you can’t accept insurance from your patients as a means of paying a portion of their medical bills.
Before your family medical practice receives insurance, the provider will want proof you’ve completed your education and medical residency. They want to ensure you’ve completed the requirements to be a licensed medical practitioner.
Apply for Your Licenses & Permits
Without licensing and the proper permits, you can’t begin offering your services to anyone. We recommend you check with your state because each state has its own list of required licenses that all medical practices and businesses must obtain.
There are several different types of licenses and permits you need to obtain but don’t forget to apply for your business license. This can be done online and don’t forget to submit your DEA registration.
This is a number provided by the US Drug Enforcement Administration that gives you the power to prescribe medication.
Select Your Office Space
Where do you intend to operate your medical practice? Secure an office space that you’re able to afford and can easily be reached by patients.
You should consider the visibility of your location because you want people to be able to see it when they’re driving by your office. If you’re not sure about purchasing a building location, you can always find one to rent.
Guide to Opening Family Medical Practices
Family medical practices are here to stay but before you open your doors there are some things you need to take care of. Don’t forget to apply for all business licensures and permits.
Also, remember to find a location that works best for you and is easy for people to get to. Want to know more on this topic or others related to it don’t hesitate to check out some of our other informational posts.
