You’ve worked hard for your medical degree. Between late-night cram sessions, carrying heavy textbooks around, and showing up to class, you did it. You made it! Congratulations! You may be looking into starting your healthcare practice instead of joining an existing one. You may be creating a practice because you want to be your own boss or because you want to run your business differently.

Put Together a Business Plan

Starting your healthcare practice will be a lot of work, and you will want to have a plan. Detail the process of opening your practice, your budget, and how high of a patient load you want. While you likely will want to change your business plan as time passes, and only some things will go exactly to plan, creating one will help you succeed.

Get Financing

The truth is, starting a medical practice will cost a lot of money. It will be worth it in the end as your practice grows, but that doesn’t make money magically appear when you need funds for medical equipment, leasing a building, hiring staff, etc. A medical practice loan is just what you need to get your business up and running.

Find Your Location

Finding the location for your practice can be challenging. Choose a high-traffic area if you can and one that’s easy for people to get through. Consider how much space you need and how you would organize it before signing a lease. Remember, you may not be able to afford the place of your dreams initially, but find a practical building and keep the goal of upgrading for when your practice is booming.

Buy Equipment and Supplies

You’re likely starting from scratch when opening your business. You’ll need to purchase equipment and other supplies. Consider things like a blood pressure monitor, scale, ECG machine, and of course, medical supplies that you’ll need when you’re diagnosing someone. You’ll also want to have a well-stocked first aid kit. You may also want to get some things for children to make your healthcare practice seem less intimidating. Get some toys, books, and movies that children can use and play with in your waiting room—having a lollipop or sticker for after their business never hurts, either.

As you embark on your healthcare practice journey, make sure you have a plan and stick to it as much as possible. This endeavor will be a challenge, but if you succeed, it will be well worth it.