Anyone willing to chat about starting a private practice?

[sbp111]

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How long you been at it?

Just finished the 6th week

 

[mille125]

Just finished the 6th week

It takes awhile to break even.

 

[DrSpine]

Any good companies for credentialing, billing, and PA?

 

[Pain Applicant1]

I'm planning on starting a pain practice solo next year in the Midwest. I have a location in mind and am starting the credentialing/equipmemt purchasing process. This forum has been a big help, but if anyone is willing to chat over phone or text to bounce specific ideas off of, please DM me. These would be things like logo/should I offer this service/is this a good deal etc. My other pain doc friends are all in academics or HOPD, so any help would be appreciated.

I started my own practice right after fellowship. This is what I did:

1. Convince local hospital to guarantee your salary and pay your start up costs. You pay them back with time, not cash
2. I started with 3 exam rooms and a small space, I don't remember the size, maybe 1500 sf
3. After one year, I purchased a commercial building. If you can do this, it would be great. Rent out other suites to other companies. Keep in mind that you now have two businesses. Business #1 is your medical practice; Business #2 is your building
4. My office space now is 2200 sf. It has plenty of room for me, including my fluoro procedure suite. I sublease within my space to other businesses. Design for efficiency.
5. Before designing your space, bring a tape measure to your fellowship and measure their space. See if each room is too small or too big and design your layout accordingly.
6. If you're handy, learn how to do construction to save on the buildout. You can cut construction costs by probably 50 to 75%. You can then start a construction company if you want to, as these services are in high demand. That's what I did.
7. For logo design, skip American companies as they are too expensive. Go to Fiverr and have a foreign artist design it for you. A Pakistani artist will cost pennies on the dollar. Or better yet, if you want it for free, just have chatgpt do the design. My friend is a graphic designer and he designed my new company's logo. I put it in chatgpt and chatgpt made it much, much better. It's my avatar.

 

[Pain Applicant1]

Thats about what I have now in my current W2 job. The space Im looking at is basically a room with no walls. Its 2200 sq ft charging 4500 in the Midwest. If anyone could share how much they put into their initial build out, let me know. They are covering HVAC and plumbing for one bathroom but ill have to cover the rest.

Is the second bathroom already there or are you building it out from scratch? Take a pic of your space and floor plan and post it.

I do a lot of construction, including all trades except HVAC, and love figuring these things out.

 

[Pain Applicant1]

Any good companies for credentialing, billing, and PA?

Use CAQH for sure