Forget about experience, credentialing, marketing, and finding the perfect community of patients.
The success of your new medical practice is all about location, location, location.
When choosing a potential location to open your practice, measure its promise against Sherlock Doc’s handy Location-o-meter:
Does the cost of renting or purchasing the property fall within your budget? Remember that the last thing you need when starting a new business is to worry about paying the rent.
If you’ve found a location that’s within your price range, give yourself 5 points.
What’s the cost of business insurance on the location? Will the addition of property and business taxes blow your budget to smithereens? Add taxes and insurance to your rent and mortgage. If you still come out on top, add 5 points to your score on the Location-o-meter.
Consider noise from neighbors, traffic, construction, and other nearby annoyances. Will any of the sounds inside or outside the location bother potential clients? If not, give yourself another 5 points.
If the office is located in a neighborhood that is easily accessible by your ideal patients, give yourself 5 points. If your ideal clients live in the neighborhood itself, give yourself an additional 10 points!
If most of your patients must drive to reach your office, is there ample parking available? Consider cost and convenience when evaluating parking options. If parking is a breeze at this location, give yourself 5 points.
Does the location fit the feeling of your business’s brand? You might want lots of sunny natural light and modern architecture, or a cozy private haven that makes patients feel safe. If the location has the vibe you’re looking for, give yourself 5 points.
Add up your score to see if this location is the perfect fit for your new practice!
If you scored 25-35 points, go ahead and sign on the dotted line because you’ve found your dream space.
If you scored 15-24 points, keep this location in your back pocket as you continue to search for other options.
If you scored 14 points or less, forget this location and keep looking for the perfect home for your future medical practice.
To learn more about doctor credentialing, insurance, coding, outsourcing, and everything you need to establish a successful healthcare practice, follow all of Sherlock Doc’s adventures on the DoctorsBusinessNetwork.com or Doctors Business Channel on YouTube!.