Occasionally I get asked this question and a very important question it is too.
The normal answer is to open a practice at the nearest hospital to home. After all, nobody wants to commute more than they need to.
Bu there is another critical factor in the final decision.
Lack of Patients?
Three years ago, I was contacted by an orthopaedic surgeon who was seriously struggling to grow his practice. His practice had been open for just over a year.
But he was struggling to get new patients either a self funders or via an insurance company.
Desk Research.
It didn’t take more than an hour of desk research to work out what the critical factor was.
A search of Google indicated that there were eight orthopaedic surgeons practicing at his hospital. All of them were recognised by the major insurance companies. All but one were fee assured. With the exception of three, they all offered consultations twice a week. He offered one.
In other words, patient requirements were already well covered.
Now What?
It was, and still is, difficult to compete for a finite number of patients against either well established consultants.
Nonetheless, never quit or give up.
There are many different steps to take. A well drafted marketing plan supported by a formal strategic objective would be the first item on my list.
But included in that would be a reality check.
His practice is not going to grow and grow and grow.
Expectations need to be managed accordingly.
Lesson
There is, however, a lesson to be learnt.
Before you decide precisely where you are going to open your practice, make sure you check how many consultants are already there.
pete@medicalhealthcaremanagement.co.uk