Questions to Ask Yourself About Improving Your Practice

Whether you’re an established medical practice with years of patient experience, or you’re a new business just starting to get off the ground, doctors everywhere are always striving to make their medical offices more efficient, to bring in more monthly or yearly revenue, and to deliver an even better experience to every patient that comes through the door. Read on for some helpful advice on what areas of your practice could improve with some simple tweaks in your business plan.

To see the recent trends in medical office rent in Los Angeles, get in touch with Boulevard Medical Properties today.

Multitasking Employees

If your practice is struggling to keep more administrative or part-time employees for an extended period of time, you may want to consider shaking up the job descriptions and train multiple staff members for multiple jobs. For example, if your practice employees a single receptionist, it may be difficult to replace them if there is ever a vacation, sick day, or other reason for an extended leave. By training multiple employees to do a handful of jobs, staff members can more freely take days off, and no miscommunications occur as they do when temporary workers are hired. These multitasking employees can be part time workers to ensure that your business can still afford the wages and increase productivity at the same time.

Location

Co-working offices are popping up all over the country in an effort to decrease single office spaces and increase the affordability for start-up and small businesses. Medical office rent in Los Angeles, New York, Chicago and Boston are very popular since these are some of the largest cities in the country and they house some of the worlds’ greatest doctors. Looking into renting medical office space may be a great way for your business to save extra money on rent and could lead to a more collaborative atmosphere at work.

Atmosphere

Doctor’s offices, whether they’re general physicians, specialists, or dentists, are often feared by patients. Even if the idea of going to the doctor’s office isn’t scary, sometimes being in any sort of medical room can cause stress, especially in younger children. If your waiting areas and overall atmosphere is more geared towards making people feel happy and comfortable to be in your medical environment, it can be a fruitful idea to invest in an immersive area.

Place magazines and books around for adults, fix televisions in certain spots around the room, and, if you have younger patients, create a special area where they can play or read children’s books. Making small tweaks to bring your patients comfort can allow them to feel significantly less anxious about being at the doctor’s office and they can be more relaxed when it’s time to attend their consultations.

Half-Day Schedules

There’s a reason so many medical students dream of one day opening their own practice. They dream of the freedom and opportunities of being a business owner, and they want to be their own boss. The benefits of running a medical practice on your own are endless. One of the main reasons is being able to create your own schedule. If you run a practice with other physicians, chances are they’d love half days too! Create a schedule with one half day a week can prove to be a positive process. Employees look forward to the shorter day, patients are attended to more efficiently, and the schedule can be flexible. If you tend to get more patients in the afternoon, have a late-start half day schedule. Cutting your schedule in half can also substantially increase revenue. By closing the business early (or late) and not paying anyone for those hours of time, your business will save money by not running if there are no patients to see during that period.

Medical Office Rent in Los Angeles

With a little creativity and an open mind to your business model, you can efficiently find ways to improve your practice over the years. If you’re interested in researching up-to-date medical office rent in Los Angeles, contact Boulevard Medical Properties to speak with a knowledgeable partner!

Streamlining Your Waiting Room

The average patient spends 121 minutes with you and your team every time they seek medical care; of that, only 20 minutes are spent with the physician. This estimate is based on time spent on travel, filling out paperwork, or communicating with other members of staff like nurses – but much of it is spent in the waiting room.

If you own a medical office space in Los Angeles, it is a good idea to streamline your waiting room for more efficient patient interaction. (Money magazine reports that the average cost spent for sitting in the waiting room while waiting for health services is $43 per patient.) What follows are some simple but effective ideas for simplifying and improving your waiting room.

For more information about successfully running a medical practice and to find the right medical office space in Los Angeles for yours, visit Boulevard Medical Properties today.

Collect Patient Information — Before the Visit!

Send all paperwork to the patient via email, snail mail, or mobile app (such as eVisit.) If the patient can send it back at least a day before their appointment, the attending physician can review it and familiarize themselves with the information prior to meeting. This saves time filling out paperwork and getting to know many patient details on the day of.

Explore ‘Telemedicine!’

Using HIPAA-compliant technology (such as eVisit) to see some of your patients virtually can save time and improve patient satisfaction. This can be especially true for patients who usually travel greater distances to see you at your medical office space in Los Angeles. Video consultations are rising in popularity because they offer the convenience and comfort of staying at home. Phone visits are also becoming more common, especially for people in more remote areas or others who don’t own computers or have internet service.

Have a System for Avoiding Bottlenecks!

Many times, a patient is either late for their appointment or simply fails to show, leaving empty spaces that could otherwise be filled with appointments or overly crowding other appointment windows.

Streamline your waiting room by creating a system to manage how often this happens in your office. For example, if a patient misses an appointment, they must pay a fee; if they are late, they must reschedule. You can also offer a grace period, so you don’t scare patients away. To hold patients accountable, make sure to gather their payment info and that they are aware of your policy when they make their appointment.

Create a Patient Survey!

If you are having a tough time identifying when bottlenecks occur at your medical office space in Los Angeles, how about creating a simple patient survey to help figure it out? Use the survey over several days and weeks so you can get the most accurate information available. Bonus: you will increase patient satisfaction just by showing them you value their time enough to survey them about it! This also increases patient compliance.

Questions on your survey might include:

● What time did you arrive in the waiting room?
● What time were you brought into the exam room?
● What time did the doctor enter the exam room?
● What time did you leave the office?

Try a Mobile Queue App!

Apps like QLess add patients to a virtual wait list, so they can check their spot in line without sitting around in your waiting room at your medical office space in Los Angeles. Using these apps, they can check their status and projected wait times. If your staff is running behind, your patient will be notified so they can adjust their schedule as-needed. Here are some of the Best Apps for Healthcare Professionals.

Medical Office Space in Los Angeles

Boulevard Medical Properties ensures your transition into your new medical office space in Los Angeles is as easy and smooth as possible. They provide a dedicated team of expert real estate professionals to guide you through the process from start to finish – and, they work with you through the term of your lease to make sure your practice flourishes in their community of medical specialists. Contact Boulevard Medical Properties today for an Appointment!

How to Start a Medical Practice

After years of studying and training to become a practicing physician, the first thing on new doctors’ minds is putting those years of hard work into action. They enter the workforce and begin the work they were called to do. Somewhere along their career, however, they might begin to wonder if there is a realistic way to start their own medical practice and be their own boss. We at Boulevard Medical Properties are here to tell you that starting your own medical practice is an achievable goal if you follow these steps.

Funding

Starting a medical practice is like running a start-up business. You will need to apply for business loans to cover the vast number of building expenses. Things such as purchasing an office building, construction work and remodeling will run up a large tab. Comparatively, you can find a medical office space for lease in Los Angeles to cut down your construction costs and ensure that your office is maintained by a third party. Both scenarios will require some sort of funding and are your first step towards become a small business owner.

Receiving a loan is a terrific way for you and your business to establish credit and have a cushion for the first few years while your business is growing. Doctors who can afford all the expenses themselves should still consider the advantages of a secured small business loan. If you are more partial to renting office space instead of purchasing a whole building, check out the available medical office spaces for lease in Los Angeles to explore this option further.

Insurance Credentials

To accept your new patients’ insurance, you will need to go through the process of applying for your credentials. This process is somewhat lengthy, taking up to several months to complete. Do research to discover exactly what types of insurance you want to accept and check with your state requirements to understand the qualifications your practice may need.

Once you’ve decided which programs you’d like to partner with, you will either accept their general reimbursement strategies, or negotiate new ones based on what procedures you do and what area of medicine you specialize in. While Medicare and Medicaid offer the same reimbursement benefits to the doctors they contract with, other smaller insurances will be able to negotiate smaller, more personalized contracts if you choose to associate with them. This will also widen the number of patients you are able to care for under insurance benefits.

Legal & Licensing

It’s a good idea to enlist an attorney who can help you draft your articles of incorporation, receive your employer identification number and learn about your state requirements for completing a tax registration. You’ll also need to decide what kind of corporation structure you want to follow based on the benefits each type offers. Your attorney will be able to help you research the business structure options and make a calculated decision unique to your practice.

You’ll also want to research the licensing procedures you’ll have to adhere to depending on your state and chosen specialty. Your licensing will depend on four things: state requirements, a national provider identification number, DEA registration and any additional regulations that will be determined by your specialty. Researching the requirements before you begin will help speed up the process in the future.

Challenges

Every start-up business is full of obstacles and starting a medical practice is no different. Some of these challenges include the state you practice in and the special registrations you might have to go through to create a medical business. Next, consider the healthcare facilities that are available in your state, and their proximity to your practice as this competition can either help or hinder your goals. If you want to be certain that there are limited competitors for your specialty, research available medical office spaces for lease and determine if leasing your office is the right choice based on the kind of medical facilities they lease to already.

Finally, there may be a lapse between seeing your patients, administering care and getting paid by their insurances. This gap could become a financial burden on your practice, but you can avoid it by taking down your patient’s insurance before bringing them in for their appointment.

Medical Office Space for Lease

Starting your own practice can be a daunting goal, but if you are able to efficiently navigate the terrain and formulate your business structure effectively, it can also prove to be an incredible success. To find the ideal medical office space for lease in Los Angeles, get in touch with Boulevard Medical Properties today.

Launching Your Medical Practice

There’s a lot to take into consideration when launching your first medical practice. Before you begin, you might want to think about the steps involved in launching your practice successfully.

Budgeting, financing, finding the right medical office space for lease, and legal document signing are just some of the many steps you’ll need to take on the road to having your own practice. Whether you already have a business plan in mind or not, it doesn’t hurt to look at the steps below to use as a guide.

Our experts at Boulevard Medical Properties want to make sure you are fully equipped with the knowledge and tools that you’ll need for success when opening your first medical practice. Though there are many steps involved, by following each one carefully, you can prevent yourself from becoming overwhelmed.

Step 1: Think About Financing

Budgeting is never a fun topic, but it’s a necessary one if you want to open a successful practice. First, you’ll need to develop your pro forma – which is similar to your business plan. A good pro forma gives you better opportunities for investments and financing. Your pro forma allows you to plan how you are going to obtain your initial revenue, and what kind of revenue you expect to project over the first year or so of your practice.

Don’t hesitate to shop around for the best loans and financing structures. Don’t rely on just a single lender or the first bank you see – ask around and get estimates so you know you can get the best deal around. There are waiting periods you can take advantage of too, so that you are able to prepare for the next steps.

Step 2: Think About Equipment and Staff Members

Now that you’ve obtained the proper funding and financing to start up your medical practice, you need to invest in the proper equipment and staff members so that your medical office will function smoothly. You want a talented team by your side, helping you to accomplish the day-to-day tasks as well as handle the immediate needs of patients and other clients.

Once you’ve got a healthy team of staff members underway, you also need to start considering what equipment to buy. Many practices find benefit from investing in an electronic health record system, which is a great way for keeping records and documents safe on digital files. Systems such as medical billing services and transcription software are also necessary in this day and age.

Plus, you’ll have to consider all your ancillary services as well. For example, do your patients enjoy being able to get bloodwork and other specialty tests done on-site? If you’re a specialty practice, you might want to make sure that you have all your specialty equipment and services available in your office. This will make customers happy as they can rely on you to complete every step of their medical needs.

Step 3: Consider the Final Tips Before You Open

You’re almost ready to open your medical practice! Lastly, you’ll want to make sure that your practice is insured – this is an absolute necessity – and that your physicians and staff members have their proper credentials and payment methods set up.

Next, you’ll want to clearly line out the policies, procedures, and practices that are integral to the well-being and functionality of your office. Make sure each staff member and representative are aware of the dos and don’ts of your practice, including how to deal with patients, what treatments can be given, and what billing steps need to be taken. Once you’ve gotten all this underway, it’s time to open your doors!

Medical Office Space for Lease

You’re finally ready to open your first medical practice. With your financing options locked in, your staff members hired, your equipment ready to go, and your insurance and company policies laid out, you have everything you need to get started.

Remember to stay true to your practices and to always seek advice if you have any further questions. If you’re in need of a medical office space for lease, or if you need more tips about how to successfully start on your own, you can contact our Boulevard Medical Properties professionals online or you can give us a call at (818) 882-5700 at any time.