By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Health Works CollectiveHealth Works CollectiveHealth Works Collective
  • Health
    • Mental Health
    Health
    Healthcare organizations are operating on slimmer profit margins than ever. One report in August showed that they are even lower than the beginning of the…
    Show More
    Top News
    How Not to Become a Victim of Medical Scams
    How Not to Become a Victim of Medical Scams
    December 22, 2021
    11 Ways You Can Care for Your Elder Family Members Health
    11 Ways You Can Care for Your Elder Family Members Health
    April 6, 2022
    How Can Brain Injury Lead To Dangerous Long-Term Effects?
    How Can Brain Injury Lead To Dangerous Long-Term Effects?
    August 30, 2022
    Latest News
    7 Most Common Healthcare Accreditation Programs: Which Should You Use?
    August 20, 2025
    Hospital Pest Control and the Fight Against Superbugs
    August 20, 2025
    Hygiene Beyond The Clinic: Attention To Overlooked Non-Clinical Spaces
    August 13, 2025
    5 Steps to a Promising Career as a Healthcare Administrator
    August 3, 2025
  • Policy and Law
    • Global Healthcare
    • Medical Ethics
    Policy and Law
    Get the latest updates about Insurance policies and Laws in the Healthcare industry for different geographical locations.
    Show More
    Top News
    health suppliments
    Experience Life in a Better Way by Experimenting with Supplements!
    November 15, 2022
    Are There Differences in Medicare Spending Across States?
    September 9, 2017
    Obama: Ryan’s Ideas Are Too Radical Unless They’re Also My Ideas
    April 21, 2011
    Latest News
    How Social Security Disability Shapes Access to Care and Everyday Health
    August 22, 2025
    How a DUI Lawyer Can Help When Your Future Health Feels Uncertain
    August 22, 2025
    How One Fall Can Lead to a Long Road of Medical Complications
    August 22, 2025
    How IT and Marketing Teams Can Collaborate to Protect Patient Trust
    July 17, 2025
  • Medical Innovations
  • News
  • Wellness
  • Tech
Search
© 2023 HealthWorks Collective. All Rights Reserved.
Reading: Cover Your Bases: What To Think About When Starting A Health Practice
Share
Notification Show More
Font ResizerAa
Health Works CollectiveHealth Works Collective
Font ResizerAa
Search
Follow US
  • About
  • Contact
  • Privacy
© 2023 HealthWorks Collective. All Rights Reserved.
Health Works Collective > Business > Cover Your Bases: What To Think About When Starting A Health Practice
Business

Cover Your Bases: What To Think About When Starting A Health Practice

Phil Cohen
Phil Cohen
Share
6 Min Read
SHARE

 

Contents
  • Research Behinds Your Idea
  • A Good Market In Your Area
  • Client Base
  • How Will The Practice Be Classified

Starting a practice of any kind is a huge investment of both time and money especially when it comes to healthcare. The success of a starting a health practice can turn it into a group of practices or a mainstay in a local area for decades to come. People tend to visit the same doctors, dentists, and chiropractors unless they are given reason not to like poor quality of care or appointment times not being respected.

Quality care at an affordable price is not the only factor that impact success. Other factors can include the neighborhood the practice is in as getting dental implants can cost thousands of dollars per tooth, a low income area will not churn out many of the same customers. The following are those factors that you need to think about when starting a health practice of any kind.

Research Behinds Your Idea

Certain areas of health tend to come with speculation as although the benefits of acupuncture have been known for hundreds of years, certain insurance providers will not cover this as a form of treatment for a bad back or shoulder. This leads to treatments being more expensive than expected for a demographic of patients with insurance plans that do not cover this. Those nutritionists preaching the newest diet or a certain way of life need to have research to back this up as well. Consumers are more intelligent as ever as a quick internet search can disprove false claims incredibly quickly.

More Read

Does Your Hospital Have Social Media Guidelines for Employees in Place?
5 Best Billing Practices for the Bundled Payment Initiative
7 Tips for Effectively Marketing a New Medical Practice
How Patient Experience Will Affect Medical Billing
Cutting Costs Through the Medical Loss Ratio & Independent Review Organizations

A Good Market In Your Area

Putting a cosmetic surgery practice in a wealthy area of the Hollywood Hills is going to yield much more business than if you put it in a rural part of the country. Location could not be more important when opening a health practice, especially for areas like dentistry. Patients can go to the local dental college for certain procedures for free or a steep discount so staying away from these could be important to a fledgling practice.

If there is no competition in the area this might be because others have tried but failed. Do this research as if you find that five holistic massage practices in the area went out of business without one being left, it is a good sign that there is not a healthy market in the area to open a practice. Oversaturation of a specific type of healthcare practice can set a practice up for disaster. Most people are not going to go to the newest practice in town if they are not in the market for a new doctor, dentist, or plastic surgeon.

Client Base

Mobile healthcare professionals are not as prevalent as they used to be but they still exist. People often times have their trainers come to their homes in order to get a workout in without worrying about the commute. This could be the same for physical therapists as well as occupational therapists. A healthy client base can help a practice break even until new patients start to pour in the doors. Without this client base there is going to have to be a good deal of marketing and advertising as people are not willing to trust just anyone when it comes to their health. This client base can also build itself through a referral program offering discounts on certain treatments if referring a new patient/client.

How Will The Practice Be Classified

Healthcare practices have to make the decision on what type of business they will be classified as. If more than one person is going to be a partner in the practice this might need to be taken to a vote. To clear things up take a look at this C Corporation vs S Corporation vs LLC Table as different classifications mean different liabilities. This could impact the way that the business is taxed and whether management will be up to shareholders or things of this nature. For those that took on funding it is important to take a close look at the options as one might be much better for the business than others.

Starting your own practice is going to be stressful to say the least but it is important not to leave things up to chance. Take the proactive approach on certain potential problem areas to prevent issues in the future. Be detail oriented in your approach to opening up the practice and you will not regret it!

TAGGED:health advertisinghealth practicehealthcare clientshealthcare practicemarketingmedical practiceopening a practice
Share This Article
Facebook Copy Link Print
Share

Stay Connected

1.5kFollowersLike
4.5kFollowersFollow
2.8kFollowersPin
136kSubscribersSubscribe

Latest News

travel nurse in north carolina
Balancing Speed and Scope: Choosing the Nursing Degree That Fits Your Goals
Nursing
September 1, 2025
intimacy
How to Keep Intimacy Comfortable as You Age
Relationship and Lifestyle Senior Care
September 1, 2025
engineer fitting prosthetic arm
How Social Security Disability Shapes Access to Care and Everyday Health
Health care
August 20, 2025
a woman explaining the document
How a DUI Lawyer Can Help When Your Future Health Feels Uncertain
Public Health
August 20, 2025

You Might also Like

Ladies and Gentlemen, the Final Accountable Care Organization Regulations!

October 20, 2011

A Look at Oncology Medication Management

March 4, 2012

Cleveland Clinic and Genzyme Will Pursue New Multiple Sclerosis Treatments

May 5, 2014
mobile app regulation
BusinesseHealthMedical InnovationsMobile HealthPolicy & LawTechnology

Five Tips for Folding FDA’s New Medical App Oversight into Your Business Strategy

March 31, 2014
Subscribe
Subscribe to our newsletter to get our newest articles instantly!
Follow US
© 2008-2025 HealthWorks Collective. All Rights Reserved.
  • About
  • Contact
  • Privacy
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?