Starting a private medical practice offers physicians and other allied health professionals unparalleled autonomy over clinical decisions, practice management, and work–life balance. This independence allows practitioners to develop personalized treatment approaches and stronger patient relationships without corporate constraints, often resulting in higher satisfaction for both medical professionals and patients. Financially, private practices can be more lucrative through direct control of revenue streams and business operations. Beyond personal benefits, private practices are vital to healthcare ecosystems by providing community-centered care, increasing access in underserved areas, and fostering innovation through a nimble adaptation to emerging healthcare needs. In an era of increasing healthcare consolidation, independent practices preserve the essential doctor–patient relationship that forms the foundation of quality healthcare delivery.
How to Start a Private Practice is a comprehensive guide for physicians, dentists, mental health professionals, physical therapists, and other allied health practitioners seeking to transition from residency, fellowship, or corporate practice into a private practice setting. Written by experienced physicians Bertrand Liang, MD, PhD, and Mitchell Liester, MD, this practical guidebook provides a road map for establishing, managing, and growing a successful private practice in today’s complex healthcare landscape.
This book provides physicians and other allied health practitioners with a step-by-step guide to establishing and managing a successful private practice. The authors combine business fundamentals with healthcare-specific knowledge to help medical practitioners navigate the complexities of practice ownership. This comprehensive approach, from addressing psychological barriers to providing detailed guidance on coding and billing, ensures that readers will have the tools they need to succeed in today’s challenging healthcare environment.