To start your own medical office in New York City can be extremely thrilling and satisfying. But sometimes it can be a difficult task that needs proper planning and execution. A successful medical office needs a pragmatic approach and the right decisions. This article will provide all the information about opening a medical office in NYC. It is a step-by-step tutorial that will assist you in establishing your medical practice.
Preparing The Practice
Before you may start your practice, you must adhere to the prerequisites and the guidelines of the federal government. There are certain prerequisites and guidelines of the state of New York too. Make sure to adhere to all the rules laid down to open a medical office.
As a medical practitioner with a new medical office, you will need to choose a legal business structure. The legal business structure determines how you pay taxes. It will further lay down the extent of liability for lawsuits, debt and losses.
Identifying your office location is also an important aspect of starting a practice.
Formulate a budget for your medical office. A budget always helps to pinpoint how much you will need to borrow or take a loan for. A lot of investment goes into real estate, construction, equipment, and attorney, accountant and consultant fees.
The creation of a charge schedule is a critical task. The list should include the services you will provide as well as the prices you will charge.
Another prerequisite is that you need hardworking honest people working for you. Make sure you have an honest clerical staff, for example, a receptionist and the cashier. The other assisting staff should be very professional and accredited in their field. Before hiring the staff, it is critical to cross-check all references. Let the references they provided confirm their credentials.
You need to have a state license from the medical board of New York. All medical practitioners must have a national provider identifier. This number helps theinsurance companies to keep track of health practitioners. Furthermore, the DEA number is important. It is a number which is issued by U.S. Drug Enforcement Administration. This number is very important because it allows you to prescribe medication to your patients. There can be some other rules and regulations which need to be adhered to. Those rules and regulations can be area-specific.
You will also have to apply for an employment identification number or EIN. This is the second step after deciding the legal structure of your medical office. This number is used by the federal government to identify your entity for tax purposes. Also, you will have to register your entity at the state and local levels. These state and local taxes will be levied too.
Hire an Expert Personnel
This guide, however informative, is certainly not exhaustive, and no amount of research can prepare you for everything that might happen as you get started. For that, you need real experience, and there are plenty of professionals who have experience in spades. It is advisable to retain some advisors and professionals. For example, certified public accountant, business attorney, business coach, insurance agent, financial planner and investment advisor.
The legal status of your medical office can be a little tricky. It is advisable to choose a health care attorney. The attorney will be the best person to guide you and can help you with documentation. The legal documents may include articles of incorporation, articles of organization, or a partnership agreement.
Promote Your Business
There are times that you can forget to promote your business amidst all the preparations. But do not forget promoting your business is the most important thing. Your business will be through your patients. You need to be known so that you can increase the number of your patients.
Starting a private medical practice necessitates the use of marketing and advertising. To promote your business, you will need a robust referral network. Participating in the medical community service can be another wonderful technique. This will assist you in making personal contacts with potential patients and publicizing your medical practice. When it comes to marketing your medical office, it is critical to publicize your medical office through social networking sites. Such sites have a lot of potential to raise your business.
