Physicians and dentists often decide to choose a new place to practice. Sometimes it might be in the same area but a different part of town or it can be in another city or state. Whether you are considering opening a new office or simply relocating, it is extremely important to do your homework before making this decision.
Here are a few tips from an experienced Georgia health care lawyer to consider.
One of the primary factors in making this decision is physician density. In areas where there are not as many doctors, it will be far easier to cultivate a new patient base. This is especially true if there are no physicians in the area with your expertise. In areas saturated with doctors, you are provided with the opportunity to expand your area of expertise and set yourself apart from the others.
Another thing to consider is an area with high unemployment. This would mean the people in that area would be less likely to have insurance coverage. This would make them less likely to make routine visits. This may all change under the Patient Protection and Affordable Care Act (PPACA).
Nobody really wants to talk about the costs involved for medical malpractice but it is a decision that has to be faced if considering a move. If you are moving in the same city or same area, this is not of significant concern. However, if you are considering moving to another state or a smaller town, the costs of malpractice insurance could vary greatly.
Lastly, consider what your earnings will be in the area you are considering. Physician compensation in the Midwest is higher than the Southwest. In reality a reputable physician can make a good living in any area he or she chooses to go to. One way to get inside information is to visit with other doctors in the area considering that they might not be entirely honest with their answers.
Unfortunately there is no cookie cutter format for determining the best place for a physician to be; there are issues specific to each practice that will need to be answered. The bottom line is that an experienced physician or dentist will flourish and succeed in any area that they choose.
If you are considering relocating your medical or dental practice, it would be a good idea to consult with a Georgia lawyer who is experienced in advising health care professionals.
Kevin S. Little has offices conveniently located in Atlanta and Augusta for your convenience. Conferences can be scheduled at either office, to fit your needs. Kevin has two decades of experience of advising business owners, entrepreneurs, professionals, physicians, dentists and other health care providers.
Contact us at our Atlanta office (404) 685-1662 or Augusta (706) 722-7886 to schedule a confidential, no obligation consultation.
Where To? : Things to Consider When Moving Your Practice, Article by Dylan Chadwick, September 3, 2012
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*Disclaimer: Thoughts shared here do not constitute legal advice.