Almost every successful doctor dreams about opening his own business. It's hard work but it's also the way to reach your potential.
Does it mean that to open a medical center you have to be a doctor? Actually, no. This article is aimed to explain the main notions of opening your own medical business. Let's take a look at the competencies and skills needed to open a medical center in 2021.
Medicine is an attractive niche because of its efficiency and stable demand for professionals in the field. However, there are many subtleties as this type of business is strongly regulated by the state. Don't be afraid and let's consider all the moments you have to be aware of, starting a medical center.
A business plan is a necessary and, perhaps, the most important component of starting a medical clinic from scratch. This is your roadmap that helps with structuring goals, identifying risks, and developing steps to mitigate them. And, most important, you'll definitely need a well-made business plan for attracting investors.
So, fine, we've understood the importance but how to start planning? Let's take a closer look at this complicated but interesting process.
Conduct marketing screening
Calculate expenses and think about the possible income
Decide on location
Make sure you understand the budget
Collecting and analyzing information is important while developing a business plan. There are several control points to focus on for an entrepreneur who decided to open his own clinic:
Decide on the services you'll provide
The best idea is to make a list of all the possible medical services you can provide. Remember to research the market before the final decision on services.
Who is the target audience of the medical center?
Make a detailed portrait of your future patients. Determine the price segment in which you will be working. Don't forget to keep a tab on your patients and put this data into the online appointment scheduling software.
Analyze the location and performance of your competitors
Study customers' reviews on your nearest competitors.
Determine the risks of the chosen concept
Formulate both short and long-term options for business development.
The financial part of a business plan contains a list of estimated income and all upcoming expenses, which include: taxes, initial and regular expenses.
While making a business plan, you have to determine the period of self-sufficiency together with the time of planned investment return. If you are going to look for an investor your business plan has to be thought-out just perfectly as it's the first indicator that shows that your project is worth funding.
Statistics shows that 75% of failures concerning the implementation of a business plan happen because of poorly detailed scheduling. So, be sure you've analyzed the financial part as well as possible.
If you don't understand the subtleties of the medical business, it'll be better to get a specialist in this field or buy a franchise. A franchise is a perfect idea if you want to start a medical business but have no idea how to do it. You'll get a ready-made business plan, a well-known name and franchisor support.
There are several factors to consider when choosing a location. One of the most important details is the target audience, the list of provided services, as well as the personalities of the doctors that'll work in the clinic. If your medical center is original: it provides unique services, which patients just cannot get in any other place, or there work highly professional doctors who are in demand, there is no difference where it's situated.
But, if you've decided to open an easy-accessible medical center, focus on the people who live nearby: their needs and desires. Don't forget to research your nearest competitors as here it's extremely important.
When selecting a perfect place for the future medical center, make sure there is enough space for parking and that the place has good transport accessibility. The proximity of the metro and public transport stops will be a huge plus for the location.
While making a business plan, it's essential to see whether the chosen location has a good passibility. Also, remember to take into account passenger traffic of public transport hubs located nearby.
As with any business, there are several options:
to have savings
to find an investor
to take a loan
to make a joint project
Today, many banks are ready to invest in healthcare: they have special medical divisions that provide loans to develop a medical sector. To get a loan, you have to be ready to show to the bank or investor a well-made detailed business plan. It's recommended to send the applications to several places as this way you'll have the higher possibility to get a positive answer or just to select what suits your business best.
Any business concerning medicine requires a set of complicated licenses and permissions as it deals with the most important – health. First of all, decide on the legal form of organization. It'll be better to consult a tax advisor together with a legal advisor as there are many trifles, which unprepared people just cannot notice at once. We advise a LLC form of organization as it's one of the best options for medical business. A sole proprietorship is also possible, however, it has one huge disadvantage – it's possible to register only the services according to the medical education you've got a degree for.
To register a LCC it's required:
to select one or more founders, CEO and chief accountant
to determine and contribute the authorized capital
to open a bank account
Quite often, especially in small companies, the founder is also a director and/or chief accountant.
After the legal form of organization is chosen, it's essential to find a good location for the future clinic. Then, consult specialists to get all the needed permits like, for example, certification on fire safety and so on.
The next step is applying for a medical license. It's a complicated process, so be ready to spend time and money while preparing to apply and applying itself.
If you are confident with all the licenses and permits, you can do all the processes by yourself, if not – it's better to consult a specialist. Also, remember that it's required to get a special license for every type of medical service.
To register a medical center it's required to get:
premises contract and sanitary and epidemiological conclusion
documents on medical equipment and supplies
employment contracts with employees, copies of their educational certificates
contract for medical waste disposal services
To start a clinic, you have to get all the licenses before the opening. Then, later the medical center can develop, expanding the profile. New services will also require licenses.
When choosing a location for a medical center, it is important to focus not only on the location of the facility. Repair work in the clinic must be done following the state laws as for this kind of business they are complicated.
To equip a medical center you will need:
reception furniture and patient waiting areas
furniture for the office of the administration of the clinic and the staff room
Computer equipment, phones
The equipment and its number depend on the specialization of the medical center. While starting, it's smart to consider buying equipment on lease or rent it. This allows you to reduce the initial investment in the project. It's also possible to buy used furniture but only in good conditions. In this case, it‘s necessary to check its performance, warranty status, and estimate its service life.
You'll have to buy some of the consumables before the opening as they are needed to pass the license check. This list includes syringes, gynecological mirrors, disposable diapers, shoe covers, disinfectants. The rest can be ordered later.
Before you've established long-term partnerships with suppliers, it is better to order consumables from large manufacturers. After the opening, the clinic will get many offers from suppliers, so then it'll be much easier to choose the desired supplier with great quality, price and service.
After the opening, it'll be useful to set up an online appointment scheduling software that will help with reports on the volume of orders and the cost of previous parties. It'll save your time and nerves during the next orders.
The reputation of a medical center is the key to success. Hire professional doctors, talk politely to your patients and be sure you'll get a positive image.
Remember the main rules of communication in a medical center and make sure your staff follows them. Being friendly and positive will always create a safe area and help to grow.
While hiring, clearly state staff commission and schedule. For a young business, it will be better to use not a fixed rate but a percent out of successfully finished services.
Promotion is essential to attract clients to the new medical center. That's why it's better to understand its laws.
Among the main tips for promotion a medical business are:
a well-made website
integration with Google and Yandex Maps
social media: Instagram, Facebook, TikTok
advertising in magazines, on TV
Motivation and teamwork create the desired positive atmosphere and attract visitors. While hiring a specialist take into account not only his education but also the ability to empathy and communication skills.
Wherever the art of Medicine is loved, there is also a love of Humanity.
To open a successful medical center, you'll need the best of the best, so make sure you hire “the right” people. To avoid problems with staff, it's useful to establish a trial period of 2-3 months.
Do not expect too much
Understand that, usually, a medical center has a hard start. Only with time, practice and reputation it is possible to make a profit with this business.
Start with a business plan, find partners, then create a good marketing strategy and be sure you will not fail!
Several factors that influence the price:
Purchasing or buying a place
Specialization of the clinic: dentistry, stomatology or multidisciplinary clinic
Wage fund and all the expenses connected to it
The expenses for launching a medical center will also depend on the state.
Initial expenses may include:
Security and fire system
Regular expenses may include:
Rent of premises
Advertising and SMM
CRM system plays one of the main roles in the work of any company. Handy scheduling is a must-have for a medical center as it helps with many complex processes: it just does it for you.
Online appointment scheduling offers:
automatization of the processes of consumables accounting
24/7 online booking
email, SMS and Push notifications
widget for online booking
and much more
Modern CRM system simplifies the work and makes your clients feel special. With its help, it is possible to analyze the performance online, even from the phone. EasyWeek has a great advantage as it is an easy solution with great functionality. The setting up takes less than an hour, during which you'll get a website, widget, and all the other tools that were mentioned before – just enter your data and you are in the game! Try it now :)
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