Are you leaving the state to open your Private Practice? Here at Practice PLUS, we have gathered all you would need to know for such a transition.
Without a methodical guide it will be daunting, take a look at our thorough list of steps to help you, start the process.
How to open your Private Practice:
- Firstly establish geographically where you would like to practice?
- Do you require rooms within a hospital or be independent of it?
- Contact the Hospital Managers in your desired place of practice and enquire about rooms.
- Should your speciality include surgery – secure surgical theatre time
Structure of the Practice
- Are you setting up a solo or a group practice?
- For a Solo practice, will it be a sole proprietor or an incorporated?
- For incorporated, register the name of the practice.
- Find a reliable Accountant. Start saving now for your tax payments.
- Open a business bank account
- Secure a loan for the initial cost of setting up your practice as you will have no revenue coming in to start.
- Obtain a practice number
- Should you already have one, update all your details with the BHF.
- Ensure your medical malpractice insurance is up to date and will suitably cover your work.
- Sign up with your speciality organisations and statutory body.
- Register with all medical aids in order to receive direct payments from them.
- Determine your billing policy
- Research which billing program you will use
- Who will do your billing for you?
- How will you keep your patient records? Paper or electronic?
- Securing IT equipment, telephones and internet services. Do you require a credit card machine?
- Purchasing of furniture for your rooms and décor.
- Organising all your stationery and forms
- Purchasing your medical equipment.
- Hire the correct staff
- Marketing yourself to the local GP’s and allied health services.
Not only does Practice PLUS assist you along with this new exciting transition from state to private, but also, we complete all the above tasks for you.
Take a look at what Dr Smit had to say about our services in assisting him in his move from government to private, along with his cross-provincial move.
“Practice Plus have proven themselves invaluable to me as a medical professional. In the months before I started in private practice, they applied for my practice number and registered my details with all the SA medical aids. They sourced appropriate electronic equipment and furniture for my practice and provided valuable suggestions on modern mostly paperless systems and dictation to improve my workflow and time management. They helped with the design and supply of all my practice stationery and helped me source and interview potential staff. At the start of my practice they helped me with the daunting process of billing and since then have proven themselves extremely capable of the daily task of staying on top of the accounts, motivations and resubmissions.”