Massachusetts Medical Society: Opening a Medical Practice - Your How-to Guide

Opening a Medical Practice - Your How-to Guide

263842PR_OpeningPractice_Guide The MMS Physician Practice Resource Center (PPRC) has posted a new resource on its website that provides a step-by-step plan to Opening a Medical Practice “Your How-To-Guide” from going through the business plan process, physician licensing fees and general information, practice legal structure, marketplace analysis, insurer carrier participation and budget planning.

Opening a medical practice can be the most rewarding undertaking you ever experience, but it can also be exceedingly challenging. It requires many deci­sions, each holding risks that can erode your success. Those physicians who plan well, secure proper funding, and remain flexible in the ever-changing climate of health care face a better overall chance of achieving private practice success and sustainability.

Making such a commitment to envision, create, design, and develop your own medical practice can be fulfilling, refreshing, and intimidating at the same time. There are many questions to answer, processes to think out, and tasks to com­plete during your journey to opening a medical practice. So where do you start?

There is no universal formula or one-size-fits-all approach for starting a medical practice. After all, the details of starting up will vary from specialty to specialty, and some laws and regulations may differ by state, city, and town. This resource serves as a guide that will help you navigate through the various con­siderations to have when building your medical practice from the ground up.

To read the complete PPRC resource on opening a practice, go to www.massmed.org/openmedpractice

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