Statistics released by the Health Ministry show that the doctor-patient ratio in India is extremely poor. The number of hospitals in the country is also very less.
According to the official figures, medical negligence is the primary reason for deaths in India. This has led to a huge increase in the number of private clinics, especially in smaller towns.
However, these clinics are not easy to establish. Besides the initial set-up costs, doctors who have their own medical practice have to focus on a lot of other issues simultaneously. This is why a medical practice loan is rapidly becoming popular.
There are multiple tips for a doctor to follow before establishing a clinic. 2 important ones are as follows:
1. Hire wisely: When you start your own medical practice, employ the best technicians and helpers available. For example, if you are a dentist, make sure that you hire someone who has at least 2-3 years of experience in the same field. While you perform a complicated dental surgery or repair, your assistant must have the expertise to perform anaesthesia.
2. Create a USP: Try to be different from other clinics within the city. There are many ways you can do so. Try and arrange for a team of specialists across multiple branches of medicine.
From specialists in Neurology to Cardiology and Gynaecology, some General Physicians and dentists put together a team of experts. This will truly create a multi-disciplinary clinic.
3. Use the latest technologies: Medical Science is improving every day as more and more discoveries are being made. To cover the expenses associated with such up-gradations, you must avail a professional loan for doctors. These loans are easy to avail and provide you with quick liquidity.
Features of a business loan for doctors
● A Business Loan for Doctors can easily be availed of amounts of up to Rs. 30 Lakh. It can be used to meet a variety of expenses related to equipment purchasing, travelling, etc.
● If you are a doctor who is looking to send your children abroad for studies or planning to shift your clinic to an entirely different premise, a loan against the property for doctors of up to Rs. 2 crore is available. This will take care of your monetary issues.
● The doctor loan interest rate is reasonable and is not too high. As such, repaying such loans is easier through affordable EMIs.
Offer something extra
Try and read up on the latest technological advancements in medicine and implement the same in treating patients. Offer value-added services to patients free of cost. For example, make charts for the BMI (Body Mass Index), ideal weight, and healthy living and then hand them over to your patients. This can help you maintain a sustained footfall at your clinic. It will keep you apart and ahead of your competition in the market.
Do not blindly follow what other doctors are doing at their clinics. Especially in tier 2 and tier 3 cities, doctors can set up path lab centres and grow their reach. A medical practice loan can address the monetary requirements of setting up a laboratory.
Lastly, it is always better to have a CA handy so that you can calculate how much money you are spending, how much is your revenue and how much profits you are making. A qualified CA will be able to point you to the right direction. If advised, do not hesitate to take a professional loan.
According to the official figures, medical negligence is the primary reason for deaths in India. This has led to a huge increase in the number of private clinics, especially in smaller towns.
However, these clinics are not easy to establish. Besides the initial set-up costs, doctors who have their own medical practice have to focus on a lot of other issues simultaneously. This is why a medical practice loan is rapidly becoming popular.
There are multiple tips for a doctor to follow before establishing a clinic. 2 important ones are as follows:
1. Hire wisely: When you start your own medical practice, employ the best technicians and helpers available. For example, if you are a dentist, make sure that you hire someone who has at least 2-3 years of experience in the same field. While you perform a complicated dental surgery or repair, your assistant must have the expertise to perform anaesthesia.
2. Create a USP: Try to be different from other clinics within the city. There are many ways you can do so. Try and arrange for a team of specialists across multiple branches of medicine.
From specialists in Neurology to Cardiology and Gynaecology, some General Physicians and dentists put together a team of experts. This will truly create a multi-disciplinary clinic.
3. Use the latest technologies: Medical Science is improving every day as more and more discoveries are being made. To cover the expenses associated with such up-gradations, you must avail a professional loan for doctors. These loans are easy to avail and provide you with quick liquidity.
Features of a business loan for doctors
● A Business Loan for Doctors can easily be availed of amounts of up to Rs. 30 Lakh. It can be used to meet a variety of expenses related to equipment purchasing, travelling, etc.
● If you are a doctor who is looking to send your children abroad for studies or planning to shift your clinic to an entirely different premise, a loan against the property for doctors of up to Rs. 2 crore is available. This will take care of your monetary issues.
● The doctor loan interest rate is reasonable and is not too high. As such, repaying such loans is easier through affordable EMIs.
Offer something extra
Try and read up on the latest technological advancements in medicine and implement the same in treating patients. Offer value-added services to patients free of cost. For example, make charts for the BMI (Body Mass Index), ideal weight, and healthy living and then hand them over to your patients. This can help you maintain a sustained footfall at your clinic. It will keep you apart and ahead of your competition in the market.
Do not blindly follow what other doctors are doing at their clinics. Especially in tier 2 and tier 3 cities, doctors can set up path lab centres and grow their reach. A medical practice loan can address the monetary requirements of setting up a laboratory.
Lastly, it is always better to have a CA handy so that you can calculate how much money you are spending, how much is your revenue and how much profits you are making. A qualified CA will be able to point you to the right direction. If advised, do not hesitate to take a professional loan.
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