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.

Are you thinking about setting up your own physiatry practice? Have you an idea for a new practice, but are unsure about how to proceed? If you have answered yes to either of these questions, this article will teach you how to plan and create a successful physiatry practice. 

Many doctors are looking at ways in which they can become self-employed, as they have had enough of being dictated to and are fed up with bureaucracy and frustrating amounts of paperwork. They want the freedom of being their own boss and to be able to choose their own hours. Leaving an employed position can be quite a scary prospect, however. The security of having a regular income and other benefits such as pension and guaranteed time off for a vacation can seem hard to let go of.

Many doctors, whether rightly or wrongly, have opted to stick with the security and to merely keep their practice plan as an idea, which they never see through or use. Other doctors, meanwhile, are willing and happy to take the risk and see it as a way of getting out of the rat race. If you’re a part of group that’s excited about setting up your own practice, or perhaps are even just curious, here’s some advice.

When you have an idea for a new practice, you need to think of a name to call it.

I would keep this name relatively short, as it makes it easy for patients to remember. A shorter, more direct name may be more challenging to think of, but it’s easier for patients to grasp. That’s the goal. So, as much as you can, avoid practice names that are difficult to pronounce and spell. You also want the name to have something to do with the practice philosophy you are creating. That’s one of the quickest and easiest ways to express what you do, who you are, and how you help patients.

Work out how much money you will need to set up the practice.

This can be daunting, but it is essential. In a short-term, I would advise keeping start-up costs as low as possible. You can also buy or rent better equipment in the future. Once you are aware of how much money you need in setting up, you then have to find it. You may have enough yourself via savings or a redundancy payout. However, most doctors are not in this position. If you do not have enough money, you can try and raise money via the family, by seeking a partner, or releasing your house’s equity. There’s also the option of practice loan.

The next stage is to market your practice.

There are many ways of doing this, including the internet via your website, an advertisement in the newspaper, direct marketing in the form of leaflets, advertisements on social media, conferences or exhibitions, or health fairs. I would advise finding out where other doctors from your speciality advertise, as they will have tried and tested many of the above options. 

Calculate how much to charge for your services.

A general rule of thumb is to first calculate your costs, assess the market, know your customers, consider the time you’ll invest, and, from there, come up with a fair profit margin. Remember that you’re just starting out, however. I will always keep these charges relatively low at the onset to attract as many patients as possible and get some income generated. You then hope the word of mouth will take over. The idea is that, after a few months, you will be in a position to increase your fees. 

Realize that you will make mistakes along the way.

When this happens, you need to think positively and not beat yourself up. It is an experience you can learn from. Always believe in yourself. At times, your practice will go through a rocky period. This is when you need to be strong. The more work you put in, the more rewards you are likely to obtain.

Practice self-discipline.

Being able to choose your own hours of work may seem like a dream, but it can prove to be many doctors’ downfall. You have to ensure you work the required number of hours. It is far too easy to stay in the bed for that extra hour or to arrange yet another game of golf. These things are fine once you are established, but this is a long way off at this stage.

Like any goal, setting up your physiatry practice doesn’t happen in one day. You didn’t become a doctor overnight, and you won’t be become a practice owner overnight. Take it one step at a time. Do your research, create a list of milestones, and keep moving forward. Before you know it, all of your hard work will have paid off.

Read my blog post: “Practical Guidelines for Beginning a Physiatry Practice”

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


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.