There are several types of medical practices that you should know about. You can check out our helpful guide here to learn more.
If you’re a doctor looking to get out of hospital work, you’ve come to the right place.
Opening or joining a practice usually comes after many years of schooling and on-the-job experience in a hospital or clinic. If you’ve been looking forward to the change in lifestyle you get from switching over to your own practice, you’re not alone.
Many doctors would rather be at their own practice, but just don’t have the means to make it happen. However, there are numerous different ways to go about it. Today, we’re going to look at different types of medical practices so you can get an idea of what your options are.
No doctor should have to work in hospitals for their entire career. Here are your options for getting involved with a practice and reinvigorate your love for helping patients.
1. Going Solo
Having your own private practice is every young doctor’s dream, but they come at a steep price and you have to put in a huge amount of work. It’s kind of like running your own business as well as being a physician; you have to put the work into finding a building, hiring employees, and finding patients at the start.
Fortunately, services like CARR healthcare real estate are there to help you find a good location and there are numerous resources online that can instruct you on how to attract new patients. After all the work is finished, going solo is a great life.
2. Group Practices
A good option for someone that wants to be in control of their practice is to go in with a few other physicians on a group practice. Instead of footing the bill and doing all of the work yourself, you’ll have two or three other doctors helping you get set up. You might even consider hiring outside services to help you promote it at that point.
You’ll work together to hire employees and purchase equipment, then split the profits at the end of the day.
3. Employed Physician
If you’re someone who just wants to focus on practicing medicine and leave all of the administrative stuff behind, you might consider becoming an “employed physician”. Some group practices and many clinics and health care corporations operate in this fashion.
4. Locum Tenens
Locum tenens physicians are paid handsomely to work out of a particular location that is short on medical professionals. Employment is often temporary, but many physicians choose to practice this way in the early years before they settle down into something more permanent.
There’s a lot of flexibility with scheduling and the cost of living is often quite low, especially if your room and board are covered by your employer. This is a great opportunity for someone that wants to travel for work and simultaneously save up to open a private practice.
What Types of Medical Practices Appeal to You?
Choosing from the different types of medical practices can be a hard decision. When you’re a young doctor, you’re more flexible with the hours you’re willing to work and where, so a locum tenens or employed physician gig might be the best thing. As you gain experience and settle down, a group or private practice will become preferable.
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