Thanks, Mariana! Terrific question!
Yes. I have seen a number of medical practices of all sizes. And they definitely come with many of the challenges that you find in running a business.
Please forgive that when people come to me with an interest in becoming entrepreneurial, the first thing I do is try to talk them out of it. After all, if I can scare you out of starting something, perhaps you shouldn’t do it!
That said, I also am pulling for you to try, if it’s the right fit and you have the tenacity, capability, and risk tolerance for it. For some people (including me), it’s hard to be anything other than an entrepreneur, whether in medicine or otherwise. And I have a lot of doctor friends that have survived the challenges and done well with their practices.
As you may know, one of the toughest constraints for medical practices (and others now) is finding and keeping good employees. Of course, reimbursement changes, malpractice insurance rates, facilities costs, and other factors may affect your business in ways that might at first seem beyond your control. And like most anything worthwhile, it can be risky and challenging in many ways.
One thought is to work in an existing practice for a time, learn, and perhaps later buy into that practice, or another. At least you might learn many useful lessons and better afford your own practice when you’re ready.
Whatever path you choose, I will look forward hopefully to your great success!
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