The business of medicine: how to overcome financial obstacles and secure financing for your private practice and ancillary services business.
Doctors across the country who operate private medical practices are facing increasing financial obstacles, namely shrinking income as a result of rising costs and lower reimbursements. In addition, as hospitals have become overburdened many physicians have opened up private surgical centers; magnetic resonance imaging and computed tomography and positron emission tomography scanning facilities; pathology labs; colonoscopy/endoscopy suites; lithotripsy centers; and other medical businesses typically performed within the hospital. Moreover, many doctors seek loans to purchase existing practices or for their capital contribution in medical partnerships. The past decade has thus seen a significant increase in the number of doctors taking out small business loans. Indeed, banks view the healthcare industry as a large growth market. This article includes practical information, advice, and resources to help doctors to secure bank financing for their practices, ancillary services business, real estate, and equipment on the best possible market terms.
dnayor@boefly.com
David
D
Nayor
D002202:Capital Financing / Q000191:economics*; D006801:Humans; D011216:Practice Management, Medical / Q000191:economics*; D011331:Private Practice / Q000191:economics*; D014481:United States