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Picture this: you're finalizing your residency, or you've spent years in practice and you're finally ready to strike out on your own. You have this forward-thinking amazing vision—a practice that reflects how you want to deliver care. A place built for patients, for community, perhaps for innovation. It’s exciting. But here’s the truth: owning your own practice isn’t just about medicine—it’s about running a business. And that means you need a roadmap that’s complete, accurate, and realistic. That means a business plan with a financial pro forma and a timeline you can rely on.

Having that plan isn’t academic. It’s the difference between a dream and an actual launch. With it in hand, finding a banking partner becomes a lot more straightforward. Banks want to see organization, evidence of planning, clarity around costs, revenues, how you get paid, and when you can pay them back. And because starting a medical practice is usually a once‑in‑a‑career experience—or maybe twice at most—working with a seasoned business consultant is essential. This is your big leap—don’t just go it alone.

So, today we’re going to walk through what you absolutely need to build into that startup plan. We’ll talk through how you’ll structure your entity, how you’ll forecast your finances, how contracting, credentialing, HR, and operations all fit together, and why a realistic timeline matters.

To get the free startup checklist mentioned in this episode, please email dave@healtheps.com and he will send it to you.

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Want more formal learning? Check out Jill's newly released course: Physician's Edge: Mastering Business & Finance in Your Medical Practice. 30+ hours of online, on-demand CME-accredited training tailored just for busy physicians. Find it here: https://healtheps.com/physicians-edge-mastering-business-finance-in-your-medical-practice/

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Original Musical Score by: Craig Addy at https://www.underthepiano.ca/ Visit Craig’s website to book your Once in a Lifetime music experience
Podcast coaching and development by: Jennifer Furlong, CEO, Communication Twenty-Four Seven https://www.communicationtwentyfourseven.com/

Episode 147: So You Want to Start a Practice? Here’s the Playbook You Can’t Skip

Medical Money Matters with Jill Arena