Starting a medical office from the ground up can be a daunting process, especially if you want to stand head and shoulders above the competition. Amid today’s ever-changing healthcare landscape, various factors can make or mar the quality of your medical practice.
To help your medical office run as smoothly as possible, we made an outline that can help you prepare the necessary elements that build up a high-performing medical office set-up. Of course, when the rubber meets the road, some professional consultants can help put you back on track. Nonetheless, here’s the basic guide that can push you on the right path to success:
Tip #1: Prepare for Credentialing and Licensing
Credentialing, licensing, and certification are all crucial requirements for setting up a credible medical office. These are necessary for regulatory agencies to ensure that a practitioner, such as yourself, is a qualified professional in your field. In essence, these three build up your reliability as it showcases your training, knowledge, experience, and ability to perform quality service in your area.
Tip #2: Hiring the Right Staff and Purchasing Equipment
The staff and equipment are the meat and potatoes of your practice – they are what will determine the quality of your services, and running a medical office without them is impossible. For that reason, be sure to take the time to conduct ample research when hunting for suitable staffing and equipment you need.
Your job postings will need to have a clear and accurate job description, while tools that help you perform background checks are handy hacks that can aid your hiring process.
Tip #3: Double-Check Your Compliance
Your compliance is proof that you are abiding by the rules and regulations set forth by regulating organizations. These are implemented to protect the public interest from any illegal mishaps from happening under your roof, which is why it’s essential to submit the following to avoid violations:
- OSHA compliance
- CLIA compliance
- HIPAA compliance
- Stark compliance
- Develop an environmental and occupational safety program
- Coordinate Employee and Physician compliance training
Tip #4: Set Up a Sound Financial Policy
Your fiscal health is vital to the stability of your organization, which is why you need to set up a financial policy that covers multiple aspects of your business. This includes setting up an accounting system and related training, purchasing credit card machines and open merchant credit card accounts.
Additionally, you will need to prepare cash flow projections and establish medical office internal controls that handle the following:
- Accounts payable
- Accounts receivable
- Internal controls
Tip #5: Utilize a Practice Management Software
A project management software can play a significant role in the long-term success of your medical office as it helps streamline your day-to-day operations. This includes scheduling, billing, coding, and collections, to name a few, all of which are critical components that help you make informed decisions for your business.
Starting up your medical office can be tricky, but with proper planning, you can ensure that operations are running in the right direction. The tips above can help you get started when you’re handling your business by yourself. Make it count as your first steps will determine how your practice will develop in the future.
If you’re looking for medical office space in NYC, get in touch with Clinicube® NYC today! We’re happy to help!