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Starting in Medical Practice
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Not that long ago, a physician could leave residency or a group practice, pick a community, borrow money for equipment, rent an office, put up a sign, and start practicing medicine. Today, the administrative and financial challenges of starting and operating a practice have increased dramatically. The revenue cycle is quite complex, the cash outlays are much higher, and more government regulations affect medical practices.
To ensure a better chance of success, the physician needs to start with the right structure, people, and processes. From securing a loan to hiring staff to choosing software and equipment, a myriad of tasks and important decisions will impact practice operations for years to come. Fortunately, the physician does not have to go it alone when starting a practice. This is your guide for the journey ahead.
Released: April 5, 2013
Revised: Oct. 21, 2022
Expires: Oct. 21, 2025
ACGME/ABMS Competencies
This program addresses the following desirable physician attributes: - Practice-based Learning and Improvement
- Interpersonal and Communication Skills
Course Objectives
Upon completion of this enduring material, readers should be able to: - Examine options for the legal organization and financial structure of a new practice;
- Determine professional affiliates, vendors, suppliers, and third parties to assist in practice setup;
- Ensure compliance in hiring and managing staff;
- Employ effective billing and revenue cycle strategies for financial success; and
- Identify strategies for marketing initiatives online and in person.
Refund Policy
No refunds will be processed for this product.
Sponsored by
TMLT — Earn a 3-Percent Professional Liability Discount
TMLT policyholders who complete this program may earn a 3-percent discount that will be applied to their next eligible policy premium.
3 AMA PRA Category 1 Credits™ (Enduring)
The Texas Medical Association is accredited by the Accreditation Council for Continuing Medical Education (ACCME) to provide continuing medical education for physicians.
The Texas Medical Association designates this enduring activity for a maximum of 3 AMA PRA Category 1 Credits™. Physicians should claim only the credit commensurate with the extent of their participation in the activity.
On select courses, the Texas Medical Association requires physician to complete 70-percent of the test questions correctly to receive credit for this course.
See TMA’s Web Site Privacy Statement
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3 ETHICS
This course has been designated for 3 credit(s) of education in medical ethics and/or professional responsibility.
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1 TMLT
TMLT policyholders who complete this program may earn a 3-percent discount that will be applied to their next eligible policy premium.
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