STARTING PRIVATE PRACTICE
Staring a private practice is something that was not taught to us in medical school or residency training. It was a very interesting and eye opening experience. I only have one word for it though: Expensive.
The first question is always WHERE? Location! Location! Location! I have always known that I would like to set up in my hometown. Aside from the fact that there are no other pediatricians in the area as of this writing, the opportunity to set up other businesses, i.e. pharmacy, laboratory, etc., is boundless.
Tip: Find OTHER doctors who you can partner with. Having someone who can split the operating expenses during the first few months when income is scare really helps.
Designing the clinic was one of the most exciting part of setting up a clinic. Pinterest can give you lots of idea. Just be realistic enough to realize that some of those designs may not be appropriate for the building or the amount of space that you have.
Here are the things that you need to set up a clinic from A to Z:
1. Airconditioner - P31,000 + P10,000 (Installation cost) + P1,200 (Exhaust fan)
Whether to go for a split or window type aircon is up to you. Just be mindful of its energy efficiency. In my case, I opted to buy a split type because I knew it would eventually save me money in the end. I bought an LG SPLIT TYPE DUAL INVERTER AIR CONDITIONER for P31,000. Installation fee was FREE but we had to pay for the wires at P300/feet. The P10,000 installation cost might be much lower if it can be set up near a window.
2. BED, CABINETS, DESK, and EXAMINING TABLE - P25,000
I had one contractor who did all the furnitures from cabinets to desks to the examining table. The cost included delivery and installation. Overall, I thought the price was a reasonable one.
3. Furnitures - P4,000
I purchases colorful monobloc chairs for the waiting area. There is really no need to purchase everything up front since it is expected that there wouldn't be more than five to ten patients sitting at your clinic during the first few months :P You can purchase these one by one slowly as your practice picks up.
4. GOODIES - P500
Since I am a Pediatrician, I opted to by some goodies like lollipops and stickers to give out to my patients after a check up.
5. PRINTER - P4,800
I purchased an HP LasterJet Pro M15a. BIG MISTAKE. Although the price point of this printer is really really good, its maintenance is very very steep. This printer allowed me to print out 500 pages of prescription pads before the toner gave out. I had to purchase a second toner at P2,800. Worse, the toner was not readily available at the computer store where I purchased it. According to the sales clerk, it had to be ordered from HP's head office and took two weeks to arrive. Lesson learned: always take into account the maintenance cost. I would have been better off with an P8,000 inkjet colored printer which would have allowed me to print up to 7,000 pages. Refilling its ink would have cost less than P1,000. Oh well.
6. RENOVATIONS - P20,000 + P15,000 (Glass doors & windows)
This would have been much much bigger if I did not have a partner. Good thing I found one in nick of time. God is good.
7. RENT - P5,500 Upfront
Again, I would have paid much much more if I did not have a business partner. She offered to pay for the advance and deposits since it was her name on the lease.
8. SIGNAGE & TARPAULIN- P10,000
I was suprised at the price. But a big signage and tarpaulins for advertisement really helped during the first few days. It made people aware of our existence within the neighborhood. Some of our patients were informed of our existence by tricycle drivers who regularly pass by and took note of the clinic.
Since we started super late in the year, we opted to postpone securing permits until the first month of the next year. We asked if this was allowed and we were informed that local governments usually gives leeway for small businesses to do this.
I am sure there were other little expenses that I failed to jot down. But the above were the most expensive items that we need to prepare in setting up a private practice. I wish someone had told of these early during residency years. I would have definitely prepared for them earlier. Ha. Ha. Ha.
I will be posting on how to secure business permits for a medical practice soon.
Hope this helps!
Ciao!
Tip: Find OTHER doctors who you can partner with. Having someone who can split the operating expenses during the first few months when income is scare really helps.
Designing the clinic was one of the most exciting part of setting up a clinic. Pinterest can give you lots of idea. Just be realistic enough to realize that some of those designs may not be appropriate for the building or the amount of space that you have.
Here are the things that you need to set up a clinic from A to Z:
1. Airconditioner - P31,000 + P10,000 (Installation cost) + P1,200 (Exhaust fan)
Whether to go for a split or window type aircon is up to you. Just be mindful of its energy efficiency. In my case, I opted to buy a split type because I knew it would eventually save me money in the end. I bought an LG SPLIT TYPE DUAL INVERTER AIR CONDITIONER for P31,000. Installation fee was FREE but we had to pay for the wires at P300/feet. The P10,000 installation cost might be much lower if it can be set up near a window.
2. BED, CABINETS, DESK, and EXAMINING TABLE - P25,000
I had one contractor who did all the furnitures from cabinets to desks to the examining table. The cost included delivery and installation. Overall, I thought the price was a reasonable one.
3. Furnitures - P4,000
I purchases colorful monobloc chairs for the waiting area. There is really no need to purchase everything up front since it is expected that there wouldn't be more than five to ten patients sitting at your clinic during the first few months :P You can purchase these one by one slowly as your practice picks up.
4. GOODIES - P500
Since I am a Pediatrician, I opted to by some goodies like lollipops and stickers to give out to my patients after a check up.
5. PRINTER - P4,800
I purchased an HP LasterJet Pro M15a. BIG MISTAKE. Although the price point of this printer is really really good, its maintenance is very very steep. This printer allowed me to print out 500 pages of prescription pads before the toner gave out. I had to purchase a second toner at P2,800. Worse, the toner was not readily available at the computer store where I purchased it. According to the sales clerk, it had to be ordered from HP's head office and took two weeks to arrive. Lesson learned: always take into account the maintenance cost. I would have been better off with an P8,000 inkjet colored printer which would have allowed me to print up to 7,000 pages. Refilling its ink would have cost less than P1,000. Oh well.
6. RENOVATIONS - P20,000 + P15,000 (Glass doors & windows)
This would have been much much bigger if I did not have a partner. Good thing I found one in nick of time. God is good.
7. RENT - P5,500 Upfront
Again, I would have paid much much more if I did not have a business partner. She offered to pay for the advance and deposits since it was her name on the lease.
8. SIGNAGE & TARPAULIN- P10,000
I was suprised at the price. But a big signage and tarpaulins for advertisement really helped during the first few days. It made people aware of our existence within the neighborhood. Some of our patients were informed of our existence by tricycle drivers who regularly pass by and took note of the clinic.
Since we started super late in the year, we opted to postpone securing permits until the first month of the next year. We asked if this was allowed and we were informed that local governments usually gives leeway for small businesses to do this.
I am sure there were other little expenses that I failed to jot down. But the above were the most expensive items that we need to prepare in setting up a private practice. I wish someone had told of these early during residency years. I would have definitely prepared for them earlier. Ha. Ha. Ha.
I will be posting on how to secure business permits for a medical practice soon.
Hope this helps!
Ciao!
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