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 Point: Ask family and friends for financial help to offset the escalating real estate costs that physicians who are starting a clinic face.
Sharad Gogate, MD, a Mumbai-based gynecologist, obstetrician, and perinatologist who would like to open his own clinic, is thinking about relocating to a less pricy area outside of the city.
“Real estate is so exorbitantly priced that it makes no financial sense for a doctor to buy and run a clinic in Mumbai today.”
—Aniruddha Malpani, MD, medical director of Malpani Infertility Clinic in Mumbai
“If the clinic is in Mumbai it will be very expensive, as real estate costs here are sky high,” he says “Even a small apartment in central Mumbai will cost Rs 20 million. Commercial establishments will be more expensive. Rental accommodations will cost at least Rs 150,000 per month.”
Physicians who intend to launch their own clinic should consider...
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Real estate costs make launching a practice unaffordable for some
Sharad Gogate, MD, a Mumbai-based gynecologist, obstetrician, and perinatologist who would like to open his own clinic, is thinking about relocating to a less pricy area outside of the city.
—Aniruddha Malpani, MD, medical director of Malpani Infertility Clinic in Mumbai
“If the clinic is in Mumbai it will be very expensive, as real estate costs here are sky high,” he says “Even a small apartment in central Mumbai will cost Rs 20 million. Commercial establishments will be more expensive. Rental accommodations will cost at least Rs 150,000 per month.”
Physicians who intend to launch their own clinic should consider...