Medical Practice
Management Checklist
A comprehensive checklist can help ensure that the important aspects of your medical practice get the attention they deserve. Whether you're starting a medical practice, joining into a partnership or totally revamping your existing one, many factors are required to run a successful business. Management entails not only looking after staff and facilities, but also tending to all legal, marketing and financial matters.
Medical Facilities
Medical facilities are often located in hospital districts where patients and doctors are in close proximity to peripheral medical services. Choose an office suite that affords enough room for your patients and provides private staff areas and your own private office. There should be plenty of parking space, security cameras and staff and a building-management company.
Equipment and Supplies
Have the right type of equipment, instruments and supplies. Get the necessary instruments required for your specialty. This means a cast cart for orthopedic surgeons and ophthalmologic instruments for ophthalmologists. Supplies extend to disposable gloves and gowns, x-ray films, computers, telephones, clinic supply carts and all paper products required by your staff.
Staffing
The Medical Group Management Association says that staffing is a critical success factor in this line of business. Find the right people and the right number of people to suit your needs. This may mean hiring an office manager, receptionist, clinical nurse or medical assistant, insurance and billing person and surgical tech.
Credentialing
State medical boards require that you get licensed in the state where you plan to practice. You'll go through an extensive credentialing process where the medical board checks all of your qualifying documentation. This can be especially lengthy if you did any medical training overseas. Once you are fully licensed you can work at hospitals where you have contracts. Check with preferred provider organizations and health-maintenance organizations for their requirements so you can additionally serve those patients.
Legal Representation
Legal representation via a health-care attorney can help manage the formation of the entity, articles of incorporation and partnership governance issues when you start a medical practice. They can also help you get a tax ID and your Medicare provider number.
Financial Considerations
Developing an operating budget is vitally important. You'll need to list sources of revenue and list all expenses for your practice. You'll need a bank account and most likely a loan for start-up costs. It may help to hire a qualified CPA to help you with tax issues, general cash flow and expenses.
Software
Get computer software for your Windows, Mac or Linux systems. Software features include accounting integration, claims management, customized reports, patient records and scheduling. Track medical equipment and supply inventories and save time when you let transcription software translate your voice recordings into patient notes.
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