Business
Huter Trego shares his perspective on listener questions about medical practice startup & development Q: 1) As a PA owner do you recommend getting a medical lawyer? 2) It’s very expensive but is it worth the money? I think I have an understanding of what I have to do legally to own a practice... but since it’s a loop hole/grey area here in Colorado I can’t help but be nervous. 3) Also, best way to get patients in the door Q: 1) What are legal must haves for starting a medical practice? 2) Must you be a medical professional/have a license to own the practice? 3) Must haves/who must be hired to manage the practice or can a provider to it on their own? 4) Are there types of state medical licenses that are just for telemedicine? 5) Which states are easiest to get licensed in? 6) Can I own a medical practice in let’s say Arizona but live in another state? Q: Best suited location for medical and or cosmetic practices Q: I’m a PA who has been asked to join a growing one MD FM cash practice (literally—no other support staff currently). I’ve got 7 years intense Internal Medicine/Primary Care experience and I’m working on IFMs AFMCP and SAFM etc but have limited experience with FM in practice (worked at VA and FQHC). If you were in my position what would you ask for? Percentage of patient payment to increase over time as I develop my panel? Percentage of overall profits? Partnership? Obviously he should cover malpractice? He’s open to anything—we both are newbies at business development. What do you think compensation for a practice development should look like? For instance, I could just be an employee and not develop the business (just see patients and nothing more). Or if I’m part of developing and implementing ideas like Group Visits (my big interest) how would the pay structure differ?