How Much Does it Really Cost to Start a Medical Practice?

Whether you have recently contemplated starting your own medical practice or it has been a dream of yours for years, there is no time like the present. When considering the logistics of starting a medical practice, it is important to consider a variety of factors. One of the main elements that will make or break the decision is the cost of your medical office for lease.

According to the experts, the cost on the launch alone can be anywhere between $70,000 and $100,000. In order to experience success and longevity, you must educate yourself on the specifics. For more information on finding the right place for your new practice, contact the experts at Boulevard Medical Properties today. From finding the right medical office for lease to medical office design, we’ve got you covered.

Your New Office Space

Perhaps one of the most obvious expenses involves securing your new space. Some initial aspects you will want to consider are:

  • Location of the office
  • Size of the space
  • Cost of the lease

However, there are additional factors you must consider as well. For example, does the office include convenient parking for your staff and patients? Or is the leasing agreement flexible to your changing business needs? The process of selecting the right space alone can be overwhelming. Consider using a trusted ally to find a medical office for lease, like Boulevard Medical Properties.

Office Equipment and Supplies

Aside from the space itself, there are some additional expenses that can come with starting a medical practice. One of the first things you will need to account for is the cost of furnishing the space. Although you do not need to buy the most expensive items on the market, there are enough items needed to make it a hefty purchase in and of itself. These purchases can include comfortable sofas for your waiting rooms, decorative paintings for your walls, medical equipment for your services, and computers for your staff. Additionally, there are also smaller purchases you need for a well-run office. This includes office supplies and toiletries.

Insurance

As you may know, there is insurance to cover just about anything that can and could go wrong with your new practice. Some types of insurance that you may want to consider include renter’s insurance, fire insurance, and malpractice insurance. Additionally, if you are opening a practice in an area that is prone to natural disasters, like earthquakes, then you may want to consider adding earthquake insurance as well. If this is your first time creating a new practice from the ground up, then Boulevard Medical Properties is a great team to have to guide you through the process. In addition to helping you find the right office for you, we will also be able to advise you on additional costs to consider.

Staff

When starting your own practice, you will likely be too busy to handle all day-to-day tasks. Having a helpful, experienced team allows you to focus on your expertise, while they manage the rest. These staff members can include receptionists, medical assistants, sales experts, marketing enthusiasts, and any other specialists you need to make your practice run smoothly.

Starting with the Right Medical Office for Lease

Starting your own medical practice can come with its share of obstacles. With a variety of factors to consider and scarce resources available to you, it can seem daunting at times. That is why having the experts at Boulevard Medical Properties is crucial to your experience. Not only are we extremely knowledgeable, but we also have years of experience and will be able to get you started with incredible guidance and confidence. For more information, contact us today.

How to Handle the Stress of Running Your Own Medical Practice

Running your own medical practice can be one of the most rewarding experiences of your life. It can also be one of the most stressful. While you are helping to improve the lives of countless patients, it’s important to make sure your own mental state doesn’t take a toll. Here are some ways to handle the stress of running your own medical practice. To find the right medical office for rent, get in touch with Boulevard Medical Properties today.

Find the Right Medical Office for Rent

Finding the space that’s right for you can be daunting. When it comes to price range, location, size, and overall layout, you want to make sure you find the right fit. With so many factors to consider, it’s wise to seek help from experts who are able to assist in the search process.

At Boulevard Medical Properties we work with a range of medical professionals and to help them find the medical office space they need.

Settling In

It’s unlikely you will stumble upon the perfect medical office rent parameters. You will want to find something that falls within your budget, and also matches the length of time you want to be secured in your location. This will likely require negotiation.

Boulevard Medical Properties can assist in this process. Once the lease is negotiated, we can also help with all your construction needs. From initial design to decorating your medical office space, we will bring you to a space you desire.

These initial steps can be overwhelming, which is why it’s so important to seek professional help. Do not take on more than you can handle. Remember that it’s okay to need help along the way.

Seek Supportive Staff

It’s so important to make sure you have enough staff to support your business. Hire reliable and focused staff members to assist with tasks from ensuring on-time payments, making sure appointments are kept, and following up about on-time payments.

Hiring experienced companies to help with medical billing services may prevent worries about payment collections, giving you more time to focus on what matters: Helping your patients.

Maintain Healthy Habits

Prioritize a work-life balance. While many people enjoy the hustle, allow time for your mental and physical health. You have chosen a rewarding career, but remember to find joy outside of work as well. This could be going for a daily walk at sunset, cooking yourself a nice meal, and taking time to meditate and clear your mind. Maintain healthy habits, including eating a balanced diet and taking care of your body. If you prioritize your own mental health, you will likely increase your ability to focus at work.

Meditation is a great option to clear your mind, and breathing techniques can help you relax if you’ve had a stressful day at work. Research phone apps that guide you through meditation, or you can do it on your own simply by sitting in an upright position with your eyes closed and silently focusing on your breath for five to ten minutes.

Use Automated Technology

Use automated services to assist when possible. Technology can be for sending out newsletters to clients and appointment-reminder texts or emails, or for scheduling purposes. There are actually real-time online scheduling services where clients can set their own appointments. However, ensure prior to using that all parties involved are able to properly use the technology you are offering. Some of your older patients may be more comfortable setting appointments in a traditional setting at the front desk.

Keep a Positive Attitude

In the medical industry, having a positive attitude and professional relationship with patients is so important. Although some diagnoses are unfortunate, your attitude can help guide the patient to accept their new reality. Focus on what matters, helping your patients to the best of your ability. Seek help when you need it.