New Practice Start-Up

New Practice Start-Up Assistance

Select a practice name, obtain a domain name, and design a corporate logo for use on marketing materials, patient education handouts, office forms, etc.;

Write a strategic business plan for the vein practice, complete with a 24 month pro forma. In collaboration with the physician and their accountant, meet with local lenders to secure the necessary financing to provide working capital as identified in the (24) month pro forma. (Working capital is typically needed for facility build-out; capital equipment; marketing; technology; staff wages and benefits; etc.);

In collaboration with Client and an architect of their choosing, provide insight into the necessary clinical and administrative space requirements in order to complete the space plan for the new office location;

In collaboration with the physician and their real estate agent (if necessary), evaluate available office locations until a final site selection has been made and the real estate lease terms negotiated. Once the practice address is secured, obtain a local telephone number so that physician credentialing with all relevant payers can begin;

Determine administrative and clinical equipment needs (telephone system, computers, EMR software, exam tables, ultrasound equipment (permanent & portable), lasers (EVLT and/or RF), exam tables, etc.);

Actively work with Client to look at various EMR systems; select a vendor, and negotiate the purchase price;

Consistent with the strategic business plan, develop a direct-to-consumer and direct-to-physician marketing campaign based upon the allocated budget. The direct-to-consumer marketing plan will focus on reaching out to potential patients who are able to self-refer to the practice for various vein treatments.

1. The direct-to physician marketing campaign will focus on identifying opportunities to grow physician referrals. The marketing plan will include sample PCP marketing materials to be used by a physician / clinical liaison. Perform a SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis of the Client’s service area within 15 to 20 miles of the practice site, identifying current and potential competitors;
2. Identify potential referral physicians within your 15 to 20 mile service area, by specialty, for targeted marketing efforts by a physician / clinical liaison. Specialties may include but are not limited to, Family Medicine, Internal Medicine, Obstetrics & Gynecology, Orthopedics, Podiatry, Pain Management, Chiropractors, Dermatology, Plastic Surgery, Occupational Medicine, etc.);

Develop a practice staffing plan, inclusive of an Employee Handbook, staff job descriptions, staff wage scales, staff benefit plan, and staff policies for physician review, modification (if necessary), and subsequent approval;

Create staff recruitment ads. Recruit, interview and hire the appropriate administrative and clinical personnel required to adequately staff the medical practice;

Develop administrative and clinical forms to be used within the practice and present to Client for review, modification (if necessary), and subsequent approval;

Establish the practice fee schedule. Educate the providers of the practice on the appropriate use of CPT and ICD-10 codes applicable for vein care;

(2-3) weeks prior to opening, begin staff training on each position.

To find out how VSA can help you successfully establish your new vein practice, contact us today!

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