As a veteran healthcare management consultant with more than 30 years of practical experience, I am frequently engaged to help physicians plan, launch, change, or improve their medical practice operations. Lately the calls have been coming with increasing frequency to help recent graduates and hospitalists establish a new concierge private practice. In other instances, the calls are from frightened primary care and specialist physicians (and one veterinarian) who are unsure about the future of their business under healthcare reform and don’t want to continue down the same path they’ve been on for years.
In this fifth sprint, we address the financial side of operating your business, from banking to pricing, and start up capital, cash flow, profit margins and debt. This sprint has two major accomplishments to achieve.
Two major accomplishments
In the fifth sprint we work together to achieve two major milestones:
- Dealing with money matters
- Dealing with any financing options you may need to consider
Don’t worry, you won’t be alone in all this. We’ll have your back and our team will be with you every step of the way.
Major appointments you must attend
- Scheduled meetings with the consulting team
- Scheduled meetings with your banker
- Scheduled meetings with your accountant
By the time you get to this sprint, our healthcare finance and revenue cycle specialists will have taken the information from the shared work space in IBM Blueworks Live to prepare projections, worksheets, and other documents you will need for this sprint. This will ensure that you have everything you need to be ready for your banking and accountant meetings. We’ll save you from mistakes often made by other concierge medicine start ups working without a net.
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