How to start a clinic business

Read the step-by-step guide on how to start a clinic in Nigeria. Here, you will find the eligibility, registration procedures and equipment needed. A clinic is a healthcare facility where people; mostly outpatients are diagnosed and treated for ailments. As opposed to hospitals, clinics focus more on rendering general practice services to outpatients. Running a clinic in Nigeria is actually a very profitable venture. This is because there is a constant need for the delivery of health care services in our country.

As a matter fact, there seems to be a shortage of clinics to serve the people. Private clinics appeal to a majority of people because the government owned health care facilities are seen to have been largely mismanaged over the years.

Coupled with this, doctors and nurses in Nigeria are notorious for going on strike to press home their demands. When this happens, people are left with no other option than to consult private clinics.

Engaging in this business venture will definitely yield profit for the proprietor, if it is done properly. In this article, you will see the basic steps on how to start a clinic in Nigeria. In Nigeria, only properly trained doctors with significant years of experience are allowed to own their own clinics. Also, according to the Nursing and Midwifery Council of Nigeria, any registered and properly trained nurse with a minimum of five years working experience can set up a clinic to handle only minor cases.

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These clinics must ensure that they refer all cases beyond them to the nearest general hospital for assistance. The setting up and running of a clinic in Nigeria is very strictly regulated by the government agencies. The following are some of the steps one has to take before you decide to start a clinic in Nigeria. As earlier stated, the set up and running of clinics in Nigeria is very strictly regulated by the government. It is very serious offence to operate a clinic in Nigeria without doing all the required registrations and accreditations.

After completing the registration with the CAC, you will have to go ahead to register with the Federal Ministry of Health. Here, they will confirm if you have the required qualifications that will give you the legal rights to operate a clinic. See How To Register a Business. In most states of Nigeria, there are bodies that have been set up to monitor the activities of private clinics within the state. These bodies are set up to ensure that clinics maintain a laid down standard and to prevent the proliferation of quacks.

These are the requirements for the registration of a clinic according to the Lagos State government. Although the requirements in all states might be similar, you will need to research on the requirements that are specific to the state where you intend to start your clinic.

The above listed requirements clearly shows that the registration of clinics in Nigeria follows a very strict process. The regulating body will also require you to pick a suitable location for the clinic.Do you want to start a health clinic from scratch? Or you need a sample health clinic business plan template? If YES, then i advice you read on. By now, you no doubt know that health is wealth, which is why as humans we would always want to be in good health.

Those who for one reason or the other have found themselves bed ridden, so wish that they could get back to their feet to pursue their dreams, hopes and aspirations. It is for this reason that the government of most countries of the world takes health issues a serious matter.

Looking at the medical profession, you may want to agree with me that enrolling to study as a medical doctor for instance and then later on emerging successful at the end of the years of study may not be an easy task. This is because of the several amount of money that is needed to study these courses and all. Consequently, after one may have emerged successfully and have worked to garner some hands-on knowledge, the next thing that just may crop up on the minds of these individuals may be to own a health clinic.

As a matter of fact, there is ample opportunity to make profit when one starts a health clinic. So, if you are in the medical professional, and are looking to start a business like this, then you may want to take the following tips seriously. Here go the tips. Market Survey is Key. Even though that you may or may not have background knowledge of what setting up a health clinic is all about, it would still be very vital that you do a market survey.

What does this survey entail you may ask? It simply means that all vital information has to be researched upon. Like how much it costs to start a health clinic, the registration processes, licensing, how many employees to start with and what have you.

Do ensure that all these are tackled so that you would be starting armed with loads of information. You have got to determine from the outset the type of clinic you want to run. Would it be a general clinic, or would there be consultants on ground to man core areas. Consultants like; pediatricians, orthopedists, surgeons, dentists, amongst others.

This step is very vital because once you are able to determine the area of specialty then you can then channel a lot of focus to see that things work as planned. The training that you need may not only be in the area of medicine. You also need to go and get some business training. This is important so that you are able to grasp some foundational knowledge on how a business is run.

Accounting and what have you. You also need to be a trained doctor to run a health clinic. You may consider enrolling for a course in medicine if you are really bent on starting a health clinic. If you do not have background knowledge in medicine or do not have the luxury of time to go back to school, then you may look at hiring a doctor to help you man core areas while you see to other aspects of the business.

Draw up a Business Plan. A business plan is one of the very important things that you must work at putting in place. Why is this important, you may ask? This is important because all the information on how you want your business to be must be contained in this template. If you do not understand how things work here, then you may consider getting a template from the internet. Otherwise, you are required to hire the services of a professional business plan writer. More often than not these people are consultants who help people proffer solutions on how to run their businesses right.

Do note that it is very important that you register your business at the appropriate quarters in your country. This is because most clinics that start without first properly documenting its business may like risk to be clamped down on.

Therefore before you do the needful things first and please do ensure that you provide them with the appropriate document that is required of you. After you might have done the registration, your next port of call would be to work at being issued a license.Thanks, Jack!

But the truth is, you can. There are plenty of articles out there that will tell you that opening a private practice requires tens of thousands of dollars and a team of accountants, lawyers, and consultants.

While that might be the case for some people, it does not have to be the case for you. All it takes is a little creativity—and being a cheapskate.

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We will discuss getting patients later. Buying equipment for your office does not need to break the bank. And with the Internet, you can quickly compare prices to save significant amounts of money. You will have a lot of choices to make. Just make the more efficient choice in each instance. Or, watch for other clinics going out of business, and you may be able to snag a high-low table at a discount.

You get my point. Use your referral and peer resources and networking to find good deals. They just want to get better. Furthermore, there is a very practical method to designing your office. Do you need to buy bulky and expensive exercise machines, or can you accomplish the same goals with smaller, less expensive materials?

From Medical School To Private Practice - What I Learned About Physicians, Medicine, & Business

A great idea is to utilize different length ballet bars attached to various positions top, bottom, and middle on a wall.

You can then attach various sport-cords and resistance bands for patients to perform hundreds of exercises. Also, keep in mind that when designing an exercise program for a patient, they are not going to have access to that expensive exercise equipment at home.

Giving them exercises in your office utilizing sport cords and resistance bands ensures that those exercises are reproducible and practical in a home environment. Moreover, not having all those large exercise machines will enable you to utilize your space more efficiently. Do you need to rent the 3,square-foot office and pay rent for space you are hoping to grow into? Or can you get your practice up and running in the to 1,square-foot office for one-third the rent?As part of its ongoing efforts to improve access to health care in rural areas, General Medical Center is subsidizing the start-up and first year of operations of a new family medicine practice, Park Square Family Medicine.

The business will be owned and managed by Dr. Nathan Detroit, MD as a sole proprietorship. He will be responsible for ensuring the general health of his patients and creating a viable and profitable business medical practice.

Throughout the first year, Dr. Detroit will work closely with advisers from General Medical to get the clinic on a sound financial and operational footing, using this medical clinic business plan as a guiding management tool. Detroit will focus on diagnosing and treating conditions of all ages while emphasizing preventative medicine and the overall health and wellness of his patients.

The clinic will utilize new equipment and a trained staff that will be able to optimize the care of each patient. He understands that there are many factors that can affect health, including exercise, diet, environment and heredity.

Park Square Family Medicine will try to provide the most comprehensive medical care possible in order to optimize the care and well-being of each patient. Ongoing training and support for these employees will be provided by General Medical Center throughout the first year.

With only five other family practitioners in town, we project a gradually increasing patient load over the first several years, as we find out place in the community. They will also cover Dr. Detroit's salary and payroll taxes for the first year of operations. As patient volume increases, we will begin supporting our expenses from revenues. At the end of the first year, the subsidies will cease, and Dr. Detroit's compensation will become one of the clinic's expenses.

how to start a clinic business

We will begin making a small profit in the fourth year. Detroit will use all his experience and knowledge to create a successful and profitable practice.

His past experience in conjunction with his progressive and diversified approach to each patient will allow him to rapidly grow a large and devoted patient base. The mission of Park Square Family Medicine is to promote the health and well-being of the local population by providing accessible, high-quality medical care for people of all ages.

Park Square Family Medicine is committed to providing services that will exceed the expectations of our patients, resulting in a successful and profitable business.

how to start a clinic business

Your business plan can look as polished and professional as this sample plan. It's fast and easy, with LivePlan. Business planning has never been easier. With complete sample plans, easy financials, and access anywhere, LivePlan turns your great idea into a great plan for success.

Learn more about LivePlan. Please click here if you are not redirected within a few seconds. Executive Summary As part of its ongoing efforts to improve access to health care in rural areas, General Medical Center is subsidizing the start-up and first year of operations of a new family medicine practice, Park Square Family Medicine. Start your own business plan Start planning. LivePlan is incredibly simple and easy to use.

The financial sales forecasting tool is very intuitive and makes writing a business plan more fun.Opening your own medical practice is an exciting way to take the practice of medicine into your own hands.

Unfortunately, it is also complicated and challenging. To ensure success, it's critical to have a clear and detailed plan at the outset that can help keep things moving on schedule. Between putting together a team, finding financing and choosing equipment, opening your own medical practice is already a big undertaking.

Add in moving parts that depend on other organizations, such as completing insurance credentialing and securing a tax ID, and you've got a herculean effort on your hands. To help you prepare for things to go smoothly as possible, Business News Daily spoke with expert advisors to create an outline of the steps you'll need to keep in mind.

Of course, when the rubber meets the road, we recommend consulting with professionals who have gone through the process before and have a proven track record of success. If you've already got a plan in place and want to focus on choosing the products and services you'll need to run your business, you can read our medical practice services reviews.

The inherent risk, upfront expenses and difficulty of opening your own practice may explain the breakneck pace of consolidation within the healthcare industry. According to Becker's Hospital Review, for-profit insurers control 43 percent of the marketwhile 60 percent of community hospitals are part of an enterprise health system. The influence of large enterprise systems and big-name hospitals over healthcare providers has grown as control of the industry has become concentrated in fewer hands.

how to start a clinic business

For many providers, joining these conglomerates seems to be the only realistic choice. Indeed, after spending so much money and time attending medical school, why go through the risk and trouble of starting your own practice when you could simply step into a well-paying job, where business operations are already established and there are no overhead costs to you?

For starters, when smaller, private practices open, it means more competition and more widespread distribution of profits throughout the industry.

It also means that more healthcare providers are granted more autonomy, becoming free to determine their own workflows. Another major byproduct of proliferating smaller practices is that they help expand healthcare access to local areas that might currently be underserved.

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Also, the ability to "be your own boss" is a large draw for entrepreneurial providers who choose to enter private practice. The sense of ownership and agency that comes with running your own practice is unmatched in a larger hospital system. The good news is that as difficult as it can be to get your practice started, it's well within reach if you have the right information.

There is no universal formula for starting a medical practice. It might be worth your while to hire a professional consultant who has started medical practices before and is aware of the potential pitfalls. After all, the details of starting up will vary from specialty to specialty, and some laws and regulations might differ by state.

A professional will understand the variables and help you plan accordingly.

Family Medicine Clinic Business Plan

Some new practices might need to hire contractors to outfit their new offices, while others might find an available turnkey location. Overall, many common items must be on your checklist when building your practice from the ground up. With so much to do, you might be asking yourself where you begin. In a word — financing. In your pro forma, account for all your expenses, debt and anticipated revenues.

Bankers can tell what projections are realistic and which aren't; it's their job to make wise investments, so you'll want to back up any numbers you use. A strong pro forma will project at least three years into the future, sometimes as far as five years out.

You're building a crystal ball of what the practice looks like, and you have to be able to tell how all of those numbers came into being. Obtaining financing, typically through a traditional bank loan, can be tricky, especially considering that many healthcare providers have a negative net worth after taking on debt to attend medical school. That's where a solid, realistic pro forma comes in.

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Furthermore, in healthcare you don't get paid very much when you perform the services. You're really at the mercy of the insurance companies and the government. So, there is a tremendous lag … on cash flow on top of this tremendous capital investment you're making. Find the specialists.

These people specialize in the healthcare industry and understand the risks, expenses and revenue models of that sector.During these challenging times, we guarantee we will work tirelessly to support you. We will continue to give you accurate and timely information throughout the crisis, and we will deliver on our mission — to help everyone in the world learn how to do anything — no matter what. Thank you to our community and to all of our readers who are working to aid others in this time of crisis, and to all of those who are making personal sacrifices for the good of their communities.

We will get through this together. Having your own medical practice or medical office can mean freedom to be your own boss and to choose your own patients. If you are thinking about opening your own practice, you will need to be organized and have a plan. You will also need to be a licensed medical doctor, having completed all of the necessary training for your profession. To start a medical practice, begin by choosing a location for your practice, and getting any permits or licenses required by the local Health Department.

Once you have an office, buy furniture, medical equipment, and computers, and get malpractice insurance for your new business. After that, work on hiring staff, like a nurse, a receptionist, and a bookkeeper. You may also want to consider bringing other doctors on board, who can help bring in patients and cover office hours.

For information from our Medical reviewer on how to manage the finances of a new medical practice, read on! Did this summary help you? Yes No. Log in Facebook Loading Google Loading Civic Loading No account yet?

Create an account. We use cookies to make wikiHow great. By using our site, you agree to our cookie policy. As the COVID situation develops, our hearts ache as we think about all the people around the world that are affected by the pandemic Read morebut we are also encouraged by the stories of our readers finding help through our site. Article Edit. Learn why people trust wikiHow. This article was co-authored by Janice Litza, MD. There are 9 references cited in this article, which can be found at the bottom of the page.

Explore this Article Getting a Medical Degree. Setting Up Your Office. Hiring a Team. Managing Finances. Storing Patient Information. Show 2 more Show less Related Articles. Article Summary. Part 1 of The United States' Surgeon General's Office notes that public health priorities for America are presenting disease and removing disparities in the medical field with regard to race, culture, age and other demographics.

Other priorities for the Surgeon General's Office involve preparing government organizations and medical facilities to deal with disease outbreaks and viral attacks, and educating the public on ways to improve personal health.

Medical clinics play a key role in the government accomplishing its health priorities. Fax your form to your state's IRS office. Click "Apply by Fax" and locate your state's fax-in number and submit your completed form. Complete state filings. Register to collect sales and use tax by visiting your state's Department of Revenue website. Locate your state's revenue office by clicking "State Links" in Resources below. Keep in mind that many states allow you to complete forms and file your taxes directly online.

Build a thorough and complete business plan. Include a detailed line item budget, in-depth description of your business and researched data on other medical clinics in your area in the plan. See the link titled "Small Business Administration, Write a Business Plan" in Resources below to review step-by-step instructions on creating your business plan. Remember that many banks will require you to submit a thorough business plan before approving your business loan application.

Satisfy licensing and inspection requirements. Contact your state's health department to identify the licenses required to operate your medical clinic. Visit the United States Food and Drug Administration website to locate your state's health department. Conduct required building, equipment and medical procedure inspections with state and federal organizations.

how to start a clinic business

Keep in mind that typically, the U. Food and Drug Administration conducts annual inspections of medical clinics. Get insurance. Reach out to your insurance provider and obtain adequate insurance coverage for your medical clinic including liability, property, medical malpractice, and employee-related insurance such as workers' compensation and disability insurance.

Contact the Center for Medicare and Medicaid Services to enroll to receive the insurance from eligible patients.

Guide to Start Clinic Business

Raise capital. Connect with your financial adviser or banker to locate funding for your clinic. Reach out to experienced grant writers by posting ads at professional writer boards such as Writer's Digest, Poets and Writers, and GrantWriters. Write and submit federal and local grants to foundations and through websites such as Grants.

Raise enough capital to purchase medical equipment, pay the first few months on your building lease and hire employees. Hire qualified staff. Consider building your staff using a team approach that includes one or more primary physicians, one to two nurse practitioners, one to two physician assistants and one to two office personnel such as an administrative assistant or file clerk.

State the requirements for each open position including licensing requirements, years of experience and availability. Keep in mind that depending on the hours you operate your clinic, you may need to post jobs for medical staff who are available to work night shifts.

How to Start a Medical Clinic

Establish formalized relationships with other medical providers in your area including nearby hospitals. Ask about the process to refer patients for care at the other facility in the event that critical medical assistance beyond what your clinic provides is needed.

Contact the Children's National Medical Center to refer children to any hospital in the country. Call and ask for a Physician Referral Kit, which contains a directory of services, a referral pad and a reference card.

Keep detailed patient records. Purchase filing cabinets and computer systems that allow you to maintain accurate and current patient medical records. Adhere to strict confidentiality policies when storing and sharing patient records.

Include items such as the patient's identification, examination findings, original copies of signed consent forms, physician orders, reports from laboratories and the written updates on patient's health assessment. Create written policies and procedures related to the protection of patient records.