Naming a private practice is an exciting time. It can be hard to imagine, but also try to think about what is possible for the evolution of your practice 5, 10, even 20 years from now. Will your name encompass your services? I have something related to mental health in the name of my company. This fall a primary care physician will be starting who will be caring for diabetes, asthma, hypertension, etc. at the clinic. My clinic has “outgrown” it’s name.
Tying the name to a geographic area is a great idea as long as you don’t see a satellite office in another far off location: Montana, Hawaii, US Virgin Islands, etc. Who knows where semi retirement can take you while your primary office back home is making passive income.
I decided to not have my last name in the name of the company because I thought 1) I didn’t want to do all the work 2) easier to sell later if I were to sell without my name, and 3) I didn’t want the public to prefer to see me instead of someone else in the practice. Dave Ramsey has moved to Ramsey Solutions I think.