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Your Medical Practice Business Developer In this portfolio ClientMagic provides a guide on medical business development and gives you keys to running a successful business. Starting a Medical Practice The Medical Business: The medical practice business has grown rapidly over the past decade. Latest extrapolations from U.S. census data place the medical industry in the USA at over 1.2 trillion annually. Private practice continues to consolidate into small groups to share liability and control costs. With the advent of new govvernmental regulations and reporting that seem to change daily the importance of a well organized office has never before been so important for survival. Starting a Practice. A basic medical practice can be started with light to moderate capitalization. Speciality practices may require more funding to get started. The first step in starting a practice is to define the extent of services and products that will be offered. There are many trade journals that offer incite into pricing structures. Competitive anaylisys can also help, this can be done by a marketing company or by pre-hired staff. Many practices miss out on the sale of ancillary products and do not merchandize them well. Clients purchase these products anyway, a good display can increase practice profits by 5 to 25%. · Start Up Requirements The amount of capital needed to start a Medical Practice will vary depending on the type of services you will offer, some necessary equipment can be well over $100,000 which must be amortized over the life of the equipment. You may also lease equipment and retain your cash, paying a higher final price. Location Location, location, location! For most med practices it is good to be located around other practices of different types. Clients perfer a one location, one stop place to go. Ultimately your ability to provide excellent service with high customer satisfaction will be the key to your success along with building a solid referral business. But having a good location will set you up to expose your business to new customers. If you are considering starting a small two to 5 room, you may be able to do so with a 1,300-1,500 square foot building. Not all locations are zoned for Medical Operations, you must pay attention to commercial/residential zoning restrictions. For most Med. Practices you will require 2,000-5,000 square feet or more. Finding a location with ample parking available and a lot of daily foot traffic and car traffic, is optimal. Building Improvements, Fixtures and Design Depending on how recently the business location was built, and how well it has been kept, you may need to spend hundreds, to several thousand dollars to improve the building and utilities. If you are offering shampoos and conditioning, you will probably need to install plumbing for washing basins. Costs of building improvements aside, you should probably set aside between $500 and $3000 for the interior layout and design, flooring, painting, window fixtures, indoor and outdoor signage and general decorations. Equipment The equipment you need to buy depends on the services you will offer. We offer links to assist you with your equipment search. www.clientmagic.net/equipment Administrative Equipment In addition to the specific equipment you will need some basic but fundamental administrative equipment. You will need at least one cash box or drawer and computer with the proper medical software, phones, basic office supplies, desks, and furniture as appropriate. Keys to Running a Successful Practice. Customer Service and Satisfaction is the Key The success of your practice will be directly linked to your ability to satisfy and treat your customers. There is no better way to retain existing customers than to have them leave feeling that you have done all you could on every visit. Word-of-mouth can be an extremely effective form of organically marketing your practice. Customer service always starts with a courteous and professionally trained staff. Your staff must be well trained and efficient with using the practice software. Create a Comfortable, Clean and Safe Atmosphere When customers enter your practice to check in they should be presented with an environment that is clean, safe, comfortable and relaxing. Medical customers expect cleanliness. Make sure the floors, seating areas, magazine racks and lighting are clean. Make sure examinatin tools and other equipment are washed look organized and fresh for new customers. Install comfortable couches and furniture in waiting areas. Offer magazines and/or coffee table books for reading. Anything you can do to make your practice more comfortable and relaxing will help retain customers and gain new ones. Your Marketing Marketing is Crucial Every owner understands how important retaining customers is by having a quality staff that ensures customer satisfaction on each and every visit. But retaining your customer base is not enough if you wish to grow your business. You must market to new customers! Marketing and Development Most likely you have done some basic marketing for your organization. Keep in mind these key elements:
Efficiency By developing an efficient running practice you create availability for your customers Here at ClientMagic we pride ourselves on helping you develop a successful and efficient practice with software that is easy to use and provides up-to-date technology and features that meets customers’ needs. Some of these important features include:
Running a successful business today invokes multiple strategies. Here at ClientMagic our goal is to help you fine tune your into a strong industry leader for years to come. Call us today for a consultation to bettering your business at 800-583-3786; our staff is looking forward to assisting with your future. WP_Business_plan.htm Go to our home page [ Home ] We recommend you this page Go back to [ White Papers ] |
