I’m Dr. Hassan, a Board-Certified Physiatrist and Independent Practice Owner. I help physiatrists start and grow their own profitable practices so they can achieve financial independence and live without limits.
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For those who long to be their own boss and make some profits, you will find that you can develop tons of ideas to focus on your practice in the market. But once this occurs, you must take action. You will find the best course of action to start your own practice by doing research and seeking mentors.
There are many perks to starting your own practice:
- being your own boss
- making your own schedule
- planning your own strategies
- developing your own care protocols
- and being able to keep all the profits
There are plenty of people who you will meet along the way, and you will embark upon new, exciting adventures as well. You will find that there are many important things to consider when you are writing your practice plan. Patients, other practices, and even your own life demands will determine if a practice is right for you.
Don’t be afraid to ask the general public what they think about your idea.
This includes friends, family members, and colleagues. If there’s deep uncertainty, then you may want to rethink your plan. You will also want to ask yourself how much you think others will pay for your services or products or how often they will need these services. This will help you with your prices and focus on the demand part of the practice. This can help you learn if it is financially feasible.
You will also want to get a better grasp on your finances.
Remember, you can learn from others’ mistakes. There are lots of financial fees that you may not realize (e.g., licensing, employee benefits, and equipment expenses). You may want to seek out others’ advice, who run their own practice in your local community, to get an idea of how much the practice will initially cost you. They may recommend services such as practice plan writing companies to help you get your ideas on paper.
Make sure you ask yourself several times if this is really what you want to do.
If your excitement for your service, product, or idea disappears after a week or two, then starting a practice based around this idea will probably fail. Ensure that the time and money you will put in the commitment will help you see benefits. And make sure that you are willing to put your time into the practice, since it can take at least two years before you see success.
Keep in mind that the hard work and dedication needed for the practice will take some precise time away from other aspects of your life.
When it comes to starting your practice and becoming your own boss, it is never easy. So many ideas or practices fail before they even give it a chance. Only start your practice if you have carefully seen all the advantages and disadvantages of owning your own practice and are ready to proceed.
Feeling like you’re ready to proceed with launching your practice? Here are some questions you should ask before doing so.
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Attention, Physiatrists! Stop leaving money on the table. Sign up for the free video series: How To Build A Profitable Practice in 90 Days or Less: http://www.sixtytosuccess.com
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I’m Dr. Hassan, a Board-Certified Physiatrist and Independent Practice Owner. I help physiatrists start and grow their own profitable practices so they can achieve financial independence and live without limits. Follow me on social media @DrHassanRehab.
