The Economics of Owning a Medical Practice

Owning your own medical practice is quite the big undertaking. While the freedom to make decisions about the care, treatment, and the way things are run in your own practice is liberating, it also comes with a handful of responsibility and exasperating expenses. There are many options to consider when starting up your own practice. For example, it is difficult to decide whether owning your own building for your medical practice or renting a medical office space in Los Angeles is more beneficial, as there are definitely advantages to both. There is also the looming statistic that most new businesses don’t have what it takes to stick it out after 5 years and end up folding altogether. Here are some expenses to keep in mind when making the decision of starting your own medical practice.

Start-up Fees

Initial fees to register a small business vary by state but can easily climb up to $800. Physicians are also required to pay government fees in order to practice in each state, another added expense.

Insurance

Another fee for starting your own medical practice is malpractice insurance, or professional liability insurance. This protects doctors from claims made against them by patients or damages from a civil lawsuit. All physicians are required to have this insurance before starting their own practice. Expenses for this insurance vary by state and focus or specialty. For example, a surgeon in California can expect to pay anywhere from $22,000 – $34,000 a year.

Other types of insurance also build the list of expenses. A physician’s own health insurance is one that is highly important, as well as any insurance being offered to their employees. In addition, property insurance for a medical office space in Los Angeles can range depending on location and size.

Equipment

Owners of their own medical practice are also responsible for purchasing all their own office furniture and equipment. This can range from basic stationary like paper, printers, fax machine, filing cabinets, phones, etc, to very expensive computers, patient scheduling programs, and medical tools, which are probably one of the biggest expenses.

Staff

In addition, physicians must keep in mind salaries for their employees. Medical assistants make a median salary of $34,785 and a nurse anesthetist’s median salary in 2019 is $180,100.

Hiring a consultant to help you start your practice is also very costly but may help you save money in the long run. They estimate that starting a private practice can add up to more than $100,000. This does not include continuing costs of owning a private practice to maintain and keep it running.

Owning Vs. Renting

Owning your own office building is another huge expense. Leasing can be a financial nightmare as well. There are, however, ways to maneuver around this, like renting from a medical office space in Los Angeles. Renting with a medical office space takes some of the stress out of starting your own medical practice and is possibly the best option. For example, Boulevard Medical Properties helps negotiate your lease step by step. They will walk you through each step of the way and put together a lease that fits your unique needs.

In addition, Boulevard Medical Properties’ consultants will help you negotiate the design and construction of building your own medical practice. Their specialists will meet with you to discuss your design ideas and take the construction off your hands from there with a hired team of professionals, leaving you with one less task to worry about. Boulevard is also highly conscientious of its energy use and takes the time to practice eco-friendly habits.

Medical Office Space in Los Angeles

If you’ve been considering starting your own medical practice, you may want to consider renting a medical office space in Los Angeles. Working with Boulevard Medical Properties will take some of the more troublesome aspects out of your hands so you can focus on the practice itself and all the other expenses you have to keep in order. Contact us today to learn more about your renting/leasing options.

Deciding on Your Medical Practice Setting

Whether you have the opportunity to start using your medical degree at an established facility, or begin your very own medical practice, it’s important to focus on the actual city and building you choose to establish your business in. Deciding on your medical practice setting as a whole is an influential aspect to your entire career, and what you want to do with your expertise. But making these large decisions on your own is not easy, so the experts at Boulevard Medical Properties are here to help you make important choices with a list of the best ways to determining the right setting for your practice. Find the best possible medical office space in Los Angeles with Boulevard Medical Practice today and start your journey to the medical career of your dreams!

Deciding on Your Medical Practice Setting

If you have been offered a few different potential jobs to use your medical expertise, it can be difficult to decide which setting is the right choice for your personal goals. However, choosing the right option can be a little easier when you think carefully about your true strengths and through evaluating your personal work tendencies. If a teaching job has been offered to you, consider whether or not the academic scene is a place you would fit in with easily. While the education of the next generation of medical professionals, extensive time off and other added benefits may be enticing, it may not be the specific field for you if you are interested in a career of applying your medical skills to real patients. If you have been offered a position to join an established medical practice where your skills would be applied to everyday patients, you would benefit from the consistent application of your expertise, but you also may be required to work longer hours throughout the year. Another great option is joining in on the creation of a new practice with a group of physicians, or beginning your own individual practice. Creating a joint practice with other doctors allows you to have partners throughout the start-up process, but any financial benefits would also be split between all members. In the same vein, creating a new practice on your own may benefit with more money, but all of the responsibility would fall on your shoulders. Find the right medical office space in Los Angeles no matter which setting you choose when you contact the experts at Boulevard Medical Properties today!

When choosing the physical setting for your new medical practice, consider a few factors about yourself and your business when making this incredibly difficult decision. The first factor is to think about whether or not your practice will offer a specialty in the field of medicine. If you and your team are certified specialists in an area of medicine, there may be parts of the country, or the state, where your skills would be more beneficial for the demographics. If you practice more pediatrician medicine, establishing a practice in a community of families is a great way to know that you will be able to give care to a larger amount of people. Take into consideration the kind of medicine you practice and do some research to see if your business would benefit from being in a specified area of the state or country. Another factor to consider when planning for a great medical practice setting is how many team members will be joining you in your medical efforts, and whether you would like to own or rent your building space. The number of physicians and support staff on your team will directly affect how large your office space needs to be, and whether or not you should consider buying or renting the buildings you are considering. Don’t attempt to find the perfect medical office space in Los Angeles on your own. Let the talented team at Boulevard Medical Properties help you find a great office space solution for your practice today!

Pediatric Office Decorating Ideas

Looking for the perfect medical office space in Los Angeles is just the first of many steps to achieving the pediatric office of your dreams. At Boulevard Medical Properties, we want your pediatric office to be comfortable not only for you, but for your young patients as well. Having a well-decorated medical office can help your child patients feel a lot calmer and happier.

If you’re at a loss for how to decorate your office, let our experts help you out. Here are some of the top-rated pediatric office decorating ideas to help get you started on this exciting new journey to having the best doctor’s office in the area.

1. Pick a Theme

Something that kids really enjoy is a friendly themed area. Have you ever been to your local bookstore or library? If so, you may have noticed that the children’s area of the store is often painted with fun murals of animals or a fantasy scene with a fire-breathing dragon. This gives the kids something to look at, helping them to feel comfortable and immersed in their imagination.

Some popular themes include:

● Safari
● Jungle
● Ocean
● Fantasy
● Space

2. Let Them Help You Decorate

At a loss for what to decorate the walls with? Well, what better way to represent your clients then with some artwork they made themselves? Dedicate a corner or section of the wall to children’s art. Ask your patients if they are interested in coloring or painting and display their masterpieces for everyone to see. This will make them feel proud, accomplished, and much more willing to come back to see you soon.

3. Think About Good Vs. Bad Colors

There are certain colors that are better for kids than others. Some colors are just a big no-no when it comes to making kids feel comfortable and welcomed. For example, too much bright or solid red can raise blood pressures and heart rates. This will cause kids to become anxious or even irritable when they are waiting for their appointment.

Instead, use colors like yellow, blue, green, and purple. Yellow and blue are relaxing and joyful, while green and purple inspire creativity and imagination.

4. Give the Kids Something to Do

Having a fun and dynamic play area is key for entertaining the kiddos when they come in for their appointment. While play areas are pretty much standard in any medical office space in Los Angeles, you can do so much more to boost the fun levels around the room.

Instead of just settling for a play table, add a whole box of safe toys. You can even set up an art or coloring station so the kids will be engaged, with their brains active and happy by the time they’re ready to see you.

5. Find the Right Décor

If you’ve confidently chosen your theme for the waiting room, make sure to incorporate it on more than just the walls. Find decor that matches the tone so your kids can be truly immersed.

For example, if you’ve chosen to go with a safari theme, make sure the decor matches the style of that culture. You can put African drums on a stand for play or display. Add cheetah-print designs to chairs and tables. Set up some toys resembling African animals so the kids can let their creativity run free.

Have Fun with Boulevard Medical Properties Today!

When it comes to the kids, it’s all about fun. Making sure that your space is inviting, entertaining, and safe is the most important thing you can do for your medical office space in Los Angeles. Successful pediatricians know how to make children feel safe and loved so that their appointments are more bearable. Remember to be patient and colorful, and everything will come into fruition. For more design ideas, or to start looking for your perfect medical office space in Los Angeles, get in touch with our Boulevard Medical Properties professionals today. Contact us online at any time or give us a call at (818) 882-5700 to set up an appointment. We look forward to working with you!

Workplace Resolutions for 2019

The New Year has finally arrived, and it’s time for you and your entire business to start 2019 off on the right foot! You’ve made your own personal resolutions for the New Year, but what about your workplace resolutions for 2019? Put together a curated list of attainable, positive resolutions for your business with the help from the team at Boulevard Medical Properties. Discover how you can get the best medical office rent in Los Angeles when you choose the experts at Boulevard Medical Properties to help you find your new office for this year!

Creating Team Spirit and Unity

While at work, it can be difficult to really get to know your colleagues. Depending on your office culture, some of your coworkers may prefer to be more acquaintances than friends, but that doesn’t mean you can’t still foster an environment of teamwork and trust. If your office culture already provides a beneficial environment for team unity, try to step it up a notch by inviting more workers who may be new or not as active to join in on any group activities! Creating a new team mindset in a professional place may be challenging at first, but there are great steps you can take to integrate new methods that inspire unity. Start with the coworkers you are closest to and see if they would be interested in activities as a group. From there, think about what activities everyone could participate in and be interested in! This can range from weekly group lunches to after work drinks and even to weekend team building retreats. Once you’ve found something that fits with many of your coworkers’ preferences and schedules, make it a routine, and try to expand to new activities over time!

Creating a More Efficient Atmosphere

Your team is probably working at a steady pace, but now that the New Year has arrived, there are minor adjustments you can make to ensure that all employees are working efficiently. This doesn’t just mean working faster, but instead refers to working better. Efficiency in the workplace includes the quality of work that is being done and the speed at which quality work is performed increases over time. Resolve to become a more efficient work space by advocating for short, but effective workouts as a team either in the morning or during lunch. Making sure that every one of your employees has had a chance to stretch their legs not only improves office health overall but is actually proven to increase brain function throughout the day. If your office is too small or cramped to give you and your employees ample room to stretch out, it may be time to look for new medical office rent in Los Angeles. Find a great new office for the New Year with professional insight from Boulevard Medical Properties!

Introducing New Policy

The New Year is also famous for being a time of implementing new policies and ideas that you may have thought of during the year. It’s an effective time to instate new procedures because the New Year represents a fresh start for everyone, and employees are more likely to accept changes easily in the New Year. Anything from important business changes to implementing an enjoyable new daily activity can be addressed in the New Year meeting with your team. If you have been waiting for the perfect time to transition into a getting new medical office rent in Los Angeles, the New Year is also the best time to move into the new building of your dreams. If moving if one of your New Year’s Resolutions, don’t wait to make it happen! Call Boulevard Medical Properties to start seeing incredible new options now!