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How to Open a Medical Practice

April 17, 2024 by Missy

Medical Practice Startup

Starting your own medical practice can be an exciting and rewarding endeavor, but it also requires careful planning and execution. Here are a few things to consider in order to successfully open a medical practice:

1. Setup Legal Entity

Each state has their own laws on what is required with respect to the type of legal entity required for a medical practice. Additionally, these laws also specify who can legally own a practice.

2. Choose a Location

Select a convenient and accessible location for your practice. Consider factors like demographics, competition, zoning laws, and the availability of necessary infrastructure and resources, as well as whether you intend to own or lease the space.

3. Complete Payor Credentialing

Research what the insurance companies require for credentialing. Complete and submit required applications well in advance of opening. Approval can take up to 6 months!

4. Set Up Your Finances

Determine your startup costs, secure funding through investors or loans, and establish business banking and accounting systems. Ensure you have adequate insurance coverage as well.

5. Hire and Train Your Team

Recruit qualified medical and administrative staff to support the day-to-day operations of your practice. Provide comprehensive training to ensure a smooth patient experience.

6. Invest in the Right Equipment and Technology

Equip your practice with the necessary medical equipment, supplies, and technology to deliver high-quality care and streamline your operations.

7. Develop Policies and Procedures

Establish clear policies and procedures for patient intake, appointment scheduling, billing, record-keeping, and other essential functions.

8. Market Your Practice

Develop a comprehensive marketing plan to attract new patients and build your brand. This may include a website, social media presence, local advertising, and community outreach.

9. Choose an EMR and Billing System

Implement a billing system to ensure that you can accurately bill patients and insurance companies for your services. This may involve hiring a billing specialist or using a third-party billing service. Choose an EMR that is right for you.

10. Continuously Improve and Adapt

Monitor your practice’s performance, gather patient feedback, and make adjustments as needed to optimize your operations and better serve your patients.

Opening a medical practice requires a significant investment of time, effort, and resources, but with careful planning and execution, you can build a thriving and successful healthcare business.

Does it feel a bit overwhelming? Looking for a startup medical practice consultant? We provide a turnkey solution for all your startup needs. Having experience opening multiple practices across various states and specialties, let us help you! We have established relationships with each of the vendors needed above.

Need help after opening? We can assist with that, too! Whether you need us to manage the entire back-office or just provide medical billing, we can help!

Interested in learning more? On our website, you can schedule a FREE consultation. We look forward to hearing from you!

Filed Under: Blog Tagged With: #healthcareconsulting, #medicalpractice, #medicalpracticemanagement, #medicalpracticestartup

Private Practice Finds New Hope with Cornerstone Healthcare Consulting

December 12, 2023 by Missy

LEROY, NY —Cornerstone Healthcare Consulting and Management is bringing private practice back for doctors across the country. The consulting firm provides a comprehensive solution to help physicians open and operate successful private practices.

After years of declining private practice numbers, Cornerstone aims to revive this model of care. The company currently has a presence in 17 states, managing all aspects of private practice operations. This allows doctors to focus on patient care rather than administrative burdens.

“We believe private practice provides the best care experience for both doctors and patients,” said Melissa (Missy) Starowitz, Owner of Cornerstone Healthcare Consulting. “Our goal is to make private practice a viable and rewarding choice once again.”

In 2023 alone, Cornerstone supported numerous new practice openings. The company has an ambitious expansion plan for 2024, with many more private practices in the pipeline across several new states.

“The response from doctors has been tremendous,” Starowitz said. “We provide everything needed to run an independent practice, from finding office space to hiring staff to managing billing. Doctors can finally practice medicine on their terms.”

Cornerstone’s unique model offers hope for the future of private practice in America. As the company empowers more physicians to open their own clinics, it’s bringing personalized care back to communities nationwide.

About Cornerstone Healthcare Consulting and Management

Cornerstone Healthcare Consulting is a physician-centric company with the experience, expertise, and resources to assist physicians in many aspects of their professional lives. They offer an array of services for individual physicians or entire practices including marketing and branding needs, sustainable organizational change, and opening new practices. For more information visit their website at cornerstonehealthcareconsulting.com

Contact

Cornerstone: Melissa (Missy) Starowitz, mstarowitz@cm-hi.com, 585.409.7624

Private Practice Finds New Hope With Cornerstone Healthcare Consulting

Filed Under: News Tagged With: #directprimarycare, #doctor, #healthcareconsulting, #medicalpractice, #medicalpracticemanagement, #medicalpracticestartup

New Physicians Choosing Private Practice Again

July 16, 2021 by wpcornerstone

As the workforce evolves and younger generations are entering into the mix, there has been a big push for independence and working for oneself. This is true in every industry, and especially so in the healthcare world. Many younger physicians and medical specialists are looking for options involving private practices, not wanting to be tied down or restricted by big hospitals and healthcare systems.

Melissa Starowitz, Founder of Cornerstone Healthcare Consulting and Management, specializes in helping practitioners make the jump into private practice and expects to see a lot more of them popping up in the next few years. This is in part due to patterns she sees that resemble what happened a few decades ago, and due to the business and healthcare management environment of today.

As Starowitz explains, this draw towards opening private practices stems in part from younger generations entering the workforce, and not being satisfied with the status quo. Many people now want to go into the entrepreneurial space, while still working one-on-one with patients.

Some physicians feel reluctant to get into a contract with a big healthcare system because they are limited in how they can practice, these systems often have patient quotas, specific treatment timeframes, and treatment limitations. In other cases, it is simply a practitioner wanting to focus on a more customer-centric model, and wanting the freedom of owning their own business.

Start-ups of any kind are easier now more than ever, without the requirement of a brick-and-mortar space there is no limit to how practitioners can connect with patients. Cornerstone Healthcare Consulting and Management has a turnkey solution that can get private practices up and running quickly, with everything they need to provide the best patient care.

They also work with practitioners looking to purchase or partner into an established practice, going through all the pros and cons, helping them decide which route forward best serves their needs.

Starowitz has been in the business a long time and has herself started multiple successful private practices in the Greater Philadelphia Region and New York area, so she knows what it takes both from the management side of it and the owner side. She is not a practitioner, she is an expert in healthcare systems management, and knows the industry inside and out.

Because part of her business is working with practices looking to sell, or improve their sustainability, she knows all the different areas where things can go wrong or need improvement. Her company helps with every single phase of the process, she will do everything from the ground up, including scouting out retail space, coordinating the website, installing the phone system, literally everything.

Starowitz is so successful because she never loses sight of the objective, providing the best care and making things better for the patient. She strives to be cutting edge and on top of trends in the industry, looking at all the new methods and business models that are working.

An example of that is telemedicine, which she was offering well before the COVID-19 pandemic made it so popular. As an entrepreneur herself, she knows exactly what struggles and challenges these practitioners will face and has a ready-made way to approach it.

Starowitz is an incredibly positive and insightful person, deeply committed to helping both physicians and patients. As a single mother, and woman in business, she understands how important work-life balance is and incorporates that into everything she does.

Visit the Cornerstone Healthcare Consulting and Management website to see how they can help get your private practice started.

New Physicians Choosing Private Practice Again

Filed Under: News Tagged With: #doctor, #healthcareconsulting, #medicalpractice, #medicalpracticemanagement, #medicalpracticestartup, #openamedicalpractice, medicalresidency, medicalstudents

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  • Monday to Friday
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