Opening a new practice is an exciting time for all parties involved. But sooner than later, you might realize how many things must get done in order to have a successful launch. Solidifying funding, claiming your real estate, building a marketing strategy, and finding the top talent in your market is just the tip of the iceberg.
With years of experience supporting aesthetic, dental, and medical practices, we’ve found that the following items are the best place to start when building your practice.
Step #1: Finding Your Key Support Partners
First things first: finding your space is going to be one of the most important steps to take initially. It gives you a timeline for opening as there may be extensive buildout needed and it also helps establish a start-up budget if you’re planning on getting a bank loan. It’s important to leverage an industry specific realtor that knows the best locations where you’re at minimal risk from competitors and one that can help you do location and demographic analysis.
Another key partner you’ll need is legal to help establish your entity, ensure you’re legally compliant to operate, and can also review your lease agreement if you don’t plan on purchasing the location of your business.
Step #2 Building Out Your Space
Next you’ll need to design your space to be both functional and friendly for the patient experience. Consider the services you’ll be offering both now and in the future, and build out your floor plan to align with these services. It’s important to maximize the space once you’re operational so planning use of space can be critical so you’re really squeezing every dollar out of every square inch of the design.
Step #2: Attract Top Talent
The success of your practice truly lies in the hands of those you hire. Being clear on your values, mission and key differentiating factors will help you communicate and attract local talent that aligns with your practice.
Using free resources such as social media, Indeed, LinkedIn, etc.. you can post job ads that explain clearly what you’re looking for. Don’t forget to include job duty descriptions, payment structures, and experience requirements. It’s also not a bad idea to email your network your job description(s) and ask them to forward on to anyone who’s in the market for a new job.
You may also consider hiring a recruiter or recruiting firm to help you source talent. We support our clients in every category of business and are happy to point you in the right direction!
Step #3: Invest In Systems
What systems will you need to run your practice efficiently and effectively? Start with an EMR or Practice Management Software that allows you to manage patient data, records, workflows, scheduling, prescriptions, billing, reporting, etc… Make sure your team takes advantage of all training opportunities offered by the EMR of your choice to ensure you’re using it at max capacity.
You will also need a payroll system to manage your employee’s pay and benefits. If you plan on offering health or retirement benefits, it’s best to implement a payroll system that provides or integrates with these offerings.
If you want to learn more about these tips and how they can be helpful for your company, schedule a consultation with us!