medical practice consultants

[smarterchild]

hi everyone,

i'm in the process of opening up a private pain practice. I've found a nice office space that I like and meets my needs. to help with some of the paperwork involved in the process, I was thinking of working with medical practice consultant group. There are many of them out there and was wondering if you guys had any insight as to how useful these groups are with the start up process and if any of you have ever used them?

Thanks!

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[pastafan]

Try searching for one of the previous threads on this topic. Consensus is to avoid wasting money on them. If you have no business experience then they may be helpful but if that is the case beware of starting a practice on your own.

What paperwork are you referring to? Do you have a good lawyer and accountant?

 

[Ligament]

Look for an on-demand CFO instead. Find one with a CPA background.

 

[smarterchild]

thanks for the input guys. most of the paperwork that I was looking for assistance with his registering the practice with the state, licensing, insurance, credentialing. I did not want to make any mistakes and also, as I currently work full time at a different private practice, time is scarce. So i was just looking for some help and guidance that I thought these places might be able to provide

pastafan, I Have not found an attorney or accountant just yet. Are there any specific qualifications i should look for?

Ligament, do you know of any on demand CFOs that you would recommend? I did a google search and found lots of them!

Thanks again!

 

[pastafan]

Attorney needs to be experienced in the areas that you need. A good contract attorney can review your office lease. If you belong to the state medical society they can usually give you good advice regarding insurance contracts and pitfalls. Your state specialty society will also usually have attorneys that they work with and can recommend. You want someone familiar with medical practices. Another factor is the size of your community. In non-urban area there may be one lawyer/firm that is connected and can solve problems for you with a phone call to the right person.

Setting up the corporate entity can be done online but you need to talk with an accountant or tax attorney to determine the best structure in your state. in my experience it is very difficult to find a good accountant. Recommendations from professionals that you know will give you a good start. Interview the accountant and see how savvy they seem with suggestions to limit tax liability. Never forget the old tax maxim: pigs get fat and hogs get slaughtered.