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How to start a New Ophthalmic Practice? In the era of corporate ophthalmology, starting a solo ophthalmic practice is a difficult and challenging task and can be very daunting for the new ophthalmologist. While some are lucky to inherit an established setup or have loads of money, for the vast majority, the initial few years are extremely crucial. We try to give a few points to help plan for a new ophthalmic practice, which may be helpful along with generous doses of good luck! • How to Start a New Medical Ophthalmic Prac... How To Start a New Ophthalmic Practice? Dr. Vidushi Sharma MBBS (AIIMS), MD (AIIMS), FRCS (UK) Dr. Suresh K Pandey MS (PGIMER), ASF (USA) SuVi Eye Institute & Research Centre Kota, India www.suvieye.com Email:[email protected] Phone 9351412449 Dr. Vidushi, MD, FRCS www.suvieye.com 2. Why Private Practice? Many options today -- Academic Institutions, Corporate Hospitals, Charity Hospitals, Further Training Private Practice -- Need to be a hard worker a people person able to handle stress multi-tasker 3. Private Practice Almost 80% of ophthalmologists involved in private practice Almost all corporate chains, large institutions, NGOs, etc. also started out as private practices and then scaled up 4. When to jump in? Compromise on anything but competence! -- Good training is a must The time to learn further is now -- do not postpone Need a certain basic amount of money in hand to start off 5. Where to start? Need an initial referral base Hometown -- smaller towns and cities some of the best potential markets -- not yet saturated and paying capacity Bigger city -- more options later like expansion, collaboration, sharing, merger, etc. Family issues -- can't keep shifting 6. Before starting Good to visit senior practitioners in the area and see the patient profile etc. -- might never get a chance later! Explore the city and the market Explore funding options and possible partners Good to get a Chartered Accountant involved from the beginning -- for financial planning 7. How to start? For an individual -- low risk is important Start at a smaller scale -- but scale up fast as the practice takes off If hassle-free funding is available -- starting with a bang with all the latest gizmos will generate very good publicity and footfall from day 1 Do not compromise on surgical results and safety at any cost!! 8. Location- Easy approach Visibility Ample parking Not too congested marketplace See the neighborhood too! Rent/ Lease/ Buy/ Home Enough space for OT, waiting for areas, immediate expansion 9. Building your team Try to get at least 1-2 trained staff Do not try to do everything yourself Supervise everything Initially, keep few staff who can multi-task between OPD/ OT/ Reception, etc. Send them for training, if needed Train in Insurance Settlement etc. 10. Buying Equipment Try to buy together with friends to enable better negotiation Many companies take deferred payments Concentrate funding for Surgical equipment -- phaco being the bread and butter Economize to the extent possible on OPD equipment/ furnishings initially 11. Systems Try to establish smooth systems right from the beginning Computerization will be beneficial in the long run, but do not attempt if not sure of hardware, software support, and trained manpower Cash flow systems Often difficult to implement later as staff resists change. #DrSureshKPandeyKota #SuViEyeHospitalKota #SuViEyeHospitalLasikLaserCenterKota