From Clinic to Polyclinic: Tips to Expand Your Practice
Amish Misra co-owned a clinic with his brother, Dilip, who is a doctor. While Dilip oversaw the medical aspects of the practice, Amish’s job was to look after the management and the finances of the business that was based in Jodhpur. Being an entrepreneur, Amish soon identified the potential the business had and promptly decided to expand it into a larger polyclinic. He knew he needed to arrange the finances to fund the polyclinic and he also had to take care of all the other requirements. If you too are looking to expand your medical business but don’t quite know how to go about the task, take a look at the guidelines mentioned below.
What Is a Polyclinic?
Quite simply put, a polyclinic is a medical facility that is larger than an individual clinic and smaller than a hospital. It is a medical centre where you can meet a number of doctors, get pathological tests done and even have minor procedures done. A polyclinic is usually set up by a group of physicians who run the practice under a single registration.
How to Get Started:
If you are a doctor, you need to mostly focus on patients. If you an ability to manage a business, it is an added advantage. However, if you think finance, business administration are tasks that occupy a lot of mind space, you can get a partner on board who knows business. You need to combine your skills with someone who has a business acumen.
What Matters Most:
- Your experience: You have spent a few years on practicising medicine. You wish to expand the scope of treatments that you offer. You may also want to work with fellow medical practioners and offer niche practices. You want to have more expertise on specific treatments. You can certainly think of a clinic expansion.
- Your patients: You have already nurtured relationships with patients. You want to create one-stop shop for your patients so that they do not run around for diagnosis or expert advice. If you can provide your patients with a place where they can meet you, get an X-ray done and show the reports to a radiologist, they will be happy and you will have successful business in your hands.
- Finances: After some years of medical practice, you would have learnt a few things about personal finance. It is crucial that you have a proper record of accounts. This is critical for your future expansion plan. You must have the adequate finances to expand your health clinic. Polyclinic funding is possible and you must be financially strong enough to be able to arrange a business loan for this purpose.
Factors to Consider When Expanding a Clinic:
Now let us take a look at the factors that you must consider when you expand your clinic into a polyclinic hospital.
- Management and staff: Running polyclinic is not only about medicine; it is also about running a business. So make sure you have a good management team who can take care of the paperwork, the finances, the legal aspects and the marketing strategies. From doctors to nurses to lab technicians to receptionists, you will have to hire them all. Every person you employee will play a role in the expansion.
- Space: When expanding your local clinic into a larger polyclinic, you have to arrange for a larger space. So identify a large space at a good locality and make sure it is accessible, has parking facilities and is safe to operate the business in.
Expanding a business is always an exciting prospect. However, a medical enterprise is far removed from any other, economically driven business. It is an ethical business that requires a lot of time, attention and care. Keep this in mind when you expand your clinic into a polyclinic. Once this is taken care of, you can go on to arrange the funding of the polyclinic and open a wonderful new facility that would help the patients in getting better treatments and help you in becoming a successful entrepreneur. Good luck!