Doctors graduating from medical school would typically open their own practice in the past. However, young physicians graduating today are more likely to work for a large healthcare service provider or hospital. The American Medical Association (AMA) reports that 17% of medical practitioners now have a solo practice, which is significantly down from 40% in the 1980’s.
The business acumen that’s required to run a solo practice is deterring most doctors from starting their own practice. However, millennial graduates are making a move towards smaller private businesses; businesses with a more personal touch when it comes to both commerce and medicine.
If you’re interested in establishing your own medical practice, here’s what you need to know before you get started…..more