Among the many costs associated with launching a clinic, rapidly escalating real estate prices in major cities are often the primary reason that new doctors are unable to open their own practice. But some young physicians have financed a practice with family money, and have even secured bank loans. Key…
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Key Point: When you are planning to open a new clinic, experts say that it’s important to assess where you’re at in your career and to make a decision about leasing, buying, or other options in the context of your overarching financial goals. Timing is everything, especially for doctors starting…
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Controlling expenses requires prudence, monitoring, and teamwork
Many physicians see productivity as the sole measure of a healthy clinic. While it is true that a nonproductive clinic cannot stay open (see “To maximize productivity, use benchmarks, delegate tasks, and download free web-based tools”), no amount of productivity can save a clinic from wasteful spending or poor investments….
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