Business

Medical Start-up Checklist for Doctors who do it all

Indian healthcare is growing at a rapid pace, with over 4,000 start-ups already sprouted up in healthcare space.

Overall, the nation’s healthcare start-ups raised a total of Rs. 35,000+ Crore between 2017 and 2019 and will be valued at Rs. 276,000+ Crore by 2022.

However, despite such significant figures, the country’s healthcare system still suffers from insufficient infrastructure to meet the medical care demands in India.

Being a medical practitioner, you can lend your expertise in setting up a start-up clinic and contribute to the nation’s welfare.

Plus, the availability of customised advances like doctor loan for the clinic can help you to bear the substantial expenditure of setting up a medical start-up.

So, if you are opening a clinic, here is a checklist for you to start with –

  1. Obtain medical equipment and supplies

The key area of focus is to purchase the right medical tools and finding the correct medical equipment financing to bear the high cost into acquiring them.

Make sure to invest in a dedicated in-house billing system, medical check-up instruments, refrigerators, diffusers, etc. It is also advisable to purchase e-filing, record checking and stock monitoring equipment. This will not only eliminate human errors but also make the process quick and efficient.

Nowadays, the expensive medical tool can also be rented – so you can consider this option as well. All of these require sufficient funding, which can be met with a credit facility is a Loan for Doctors from lenders like Bajaj Finserv.

Furthermore, if you are an existing customer of the lender mentioned above, you also get to enjoy their pre-approved offer.

  1. Hire staffs

To run a successful medical start-up, hire skilled staffs and manage the workflow. It is also essential to set up personnel benefits.

Take some time off to introduce facilities like health insurance portions or, paid time off and arrange for services, if required. Also, do not forget to perform a security risk assessment.

Make sure you are training your staffs or, they are operating on best practices to avoid legal hassles. Take a professional indemnity insurance policy to provide added layers of security in case any malpractice occurs in your clinic.

Nevertheless, running such a multitude of operations often requires a substantial amount of capital. This is one of many reasons to consider a business loan for doctors for your clinic’s smooth operation and workflow.

A doctor loan for the clinic will help a medical practitioner to hire experienced staffs, oversee the operations of the clinic, and further expand in business and boost revenue input.

  1. Promote your services

Once all the logistics have been taken care of, it is time to start promoting your services to gain maximum reach. You can consider joining a medical association or signing up a physician-only social network.

Here, you will come across specialists in your area who can promote your practice to their existing patients. Plus, you also benefit from significant advice from seniors who can also help you in endorsing your practice.

Finally, you can also appoint a marketing team who will assist you in developing an online presence of your medical start-up to attract patients. Although it is a time-taking and expensive process – the outcomes are mostly favourable.

Hence, if you experience a monetary crunch in hiring such marketing professionals – a doctor loan for the clinic can provide you with the necessary financial assistance. But, do not forget to eligibility for a doctor loan beforehand.

Following this checklist will assist you in opening a thriving medical start-up facility in future. It might feel intimidating to venture single-handedly into the healthcare business, but once you manage to run it effectively – it will make all your work worthwhile.

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