Slow And Steady Wins The Race

One mistake that new practices often make is trying to offer a full scale of services in house when they open. During the initial phases of your practice it is ok to have to send patients out for diagnostic services related to your speciality. It simply isn’t feasible to purchase equipment that often costs hundreds of thousands of dollars as you are opening your practice. While this may not be ideal for patients to have to go to a secondary office for additional testing it is fairly commonplace and shouldn’t be a dealbreaker. This financial restraint in the first year or two can allow the practice to grow naturally and at a pace that makes sense for long term grown without handcuffing the practice financially right when you open the doors. Purchase and offer only what is needed when opening, far too many times we see that practices offer too much too soon and are often immediately saddled with massive debt from the beginning. The best strategy to begin with is organic growth and financial responsibility to ensure you have what you need but don’t have excess that impacts the practice financials.