Expert Advise: How To Chose The Right Location For Your Practice

When it comes to opening your own pediatric practice, you don’t have to be a seasoned business person to know that location matters. But knowing location matters is one thing. Deciding  which location is the best choice for a practice is  another matter. Common sense tells us to not open a practice in an area that is saturated with pediatricians, but how do you define saturated? Is 1 or 5 or 20 competing offices too much? What if there … [Read more...]

Is Your Medical Practice “That” Office?

Everybody has that guy or that restaurant or that clothing store. And most people like to talk about that guy, that restaurant or that clothing store. They want you to experience what they’ve experienced. You know what I’m talking about… When you are at a friend’s house and you mention, “I’m looking to paint the house.” And someone says, “I know a guy that can paint your house. He's great! Just let me know, and I’ll give you his … [Read more...]

Running A Restaurant Like A Medical Practice?

Private practice, in many ways, is unique to other business. One particular distinction is that doctors are not paid at the time of service, but rather after a long administrative and burdensome effort.   Funny Reimbursement Model I’ve always found the whole physician reimbursement model odd. It would be like going to a restaurant, eating a full meal, handing over a “card,” as some sort of good faith gesture of payment, and leaving the … [Read more...]