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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.