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Private Practice Start-up - need ideas!

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5 years 5 months ago #94138 by HAM
Hi everyone -

It has been ages (years?) since I've been on here. However, based on the advice from one special doc on these forums, I have made some good decisions (and friends).

Anyway, I am boarded in Internal medicine but did 2 years fellowship in Endocrine (long story) but am not board eligible. I left fellowship early and was burned out so took a job with a drug company as a scientific liaison. It's been fun and very very laid back BUT I miss full time medicine (and need to be paid). On the side I moonlight as a Hospitalist and have a diabetes clinic 1 day a week (most of the patients from fellowship followed me after I left). The problem is that the diabetes clinic owner isn't paying me hardly ever (3 paycheck a since January and I've audited the insurance reimbursements and know I'm not being fairly reimbursed). I was offered full time Hospitalist job, which I will begin in July and finish out the pharma gig by December. Meanwhile I have partnered with an aesthetic clinic and an outstanding nurse injector as medical director and regenerative medicine specialist. This is fun and I like seeing not sick patients sometimes too. The clinic is beautiful and the owner is very willing to let me see my diabetes patients there.

My question - how do I make the transition? What do I need to do to be a private practice doc? right now I'm credentialed with the insurance companies under both the hospital and the endocrine clinic. however, I know I have to get credentialed for any new clinic.
So do I need to set up a corporation and begin the agonizing process of credentialing again? what sort of corporation and how do I set this up? Any recommendations for small EMRs that can handle billing and charting? I am planning to still see the diabetes pts 1 day a week, do the Hospitalist gig 15 days a month and the aesthetics clinic the rest of the time. Sounds busy but what am I going to do the 2 weeks off anyway?!

Any advice if you have done this yourself would be ver appreciated.

Also, I cannot think of any catchy or cool names for a diabetes clinic (and my last name Diabetes Clinic is boring).

Thanks so much in advance. I joined MomMd when I had my first baby and he's almost 10 now!! It's been a long and hard journey but I came out the other end tougher and stronger and am glad to be where I am today (for the most part).

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5 years 5 months ago #94141 by sahmd
Don't forget malpractice insurance. Sorry, I have no experience with this, but good luck!

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5 years 5 months ago #94153 by HAM
Today I met with my husband's physician (a private, independent practice). I learned the following (for anyone interested in doing so in the future - it is actually hard to find quick info about this):

1. Establish a PLLC (professional limited liability corporation).
2. Through the PLLC, will acquire EID
3. Obtain NPI for clinic
4. Find medical software (he was old-school and had paper charts but I prefer EMR)
- most of the info I could find encourages web-based EMR
- will be speaking with several different companies this week
5. Obviously should be number one but find a location. This is already taken care of and I will really not need to furnish it as it will have exam tables.
6. Obviously need a computer that can handle the EMR (looking for a business-grade laptop)
7. Get malpractice insurance to cover new clinic/PLLC
8. Once EID and clinic NPI set up, contact all of the insurance providers under which I am credentialed and request coverage for the new location (he seemed to think this was fairly easy).
9. Set up a new account for business flow
10. Get Quickbooks to manage said business flow (hubby's new job in addition to medical billing)
11. Probably need some sort of card swiper to take payments,
12. Start practice

Pretty easy right?

So I would love all of your input as far as names for the business. I live very near the mountains. Which do you like/hate? Any other suggestions (super clever would be great...not particularly creative myself):

- Mountain View Diabetes (Care...or Center... or nothing)
- Alta View Diabetes (Center/Care/nothing...lots of "Alta" terminology in the area)
- Alpine Diabetes (Care/Center/nothing)
- Alta Diabetes (Care/Center/nothing)
- First name Last Name Diabetes (Care/Center/nothing)

Honestly, I would appreciate anyone's feedback.

Thanks so much in advance. I'll try to keep you posted how it goes - but if any one has a question about forging a similar path, let me know!

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5 years 5 months ago #94155 by sahmd

HAM wrote: Pretty easy right?


LOL!

HAM wrote: - First name Last Name Diabetes (Care/Center/nothing)


If you ever plan to sell the business in the future, it might be harder to sell it if it is named after you. Just a thought.

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5 years 5 months ago #94157 by becco
That was a thoughtful thing to post! I am sure that will help many other people planning to do what you are doing!

I like Alpine Diabetes Care. With a tree logo! Mountain View is nice, too. Both evoke peaceful images for me, of pretty mountains and forest.

I have a friend who has a practice that was originally his name. Then he acquired a partner, and made it a hyphenated business name. Then that partner moved away, so he decided that he was done with the name change thing and went to a practice name that did not have his name. You may want to save yourself that hassle, as you may want a partner or partners in the future!

My dentist uses square for payments, on an iPhone

Good luck with your practice! How exciting!

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5 years 5 months ago #94164 by HAM
Okay - coming up with a few additional names. I like Alpine Diabetes too becco. However, the only issue is that ALL diabetes clinics have rather bland names. Now I"m not sure if this is because that is better for market value or that endocrine folks are just not creative (which is definitely true about me). Regardless, I have an established patient population who won't care about the name (unless I called it Diabetes B*Tch or MoFo Diabetes) and I get more referrals than I have time for.

What do you think of these ideas:

Diabloom
Diabetter
DiaThrive
DiaBEATit (which I love but my husband thinks is super cheesy...endos are also big nerds)

All would be followed by a : A Diabetes Health and Wellness Clinic.

This is what I do to try to get to sleep - over think things. But you know how it is when you get in an argument or something and then you think of a comeback 4 hours later? I don't want that same thing to happen with a name.

Thanks again mama docs!



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