How to Start a Neurology Private Practice

Starting your own neurology private practice gives you a chance to put your medical skills to good use and be your own boss at the same time. However, starting a medical practice can be a challenging project. There are some vital steps that need to be taken before you can start seeing patients. Follow these steps to get your neurology practice started properly.

1. Satisfy the legal requirements for running a medical practice. Running a medical practice is running a business, and the legal requirements must be satisfied. Contact your state's Department of Health to learn how you can apply for and obtain all the required licenses and permits to start a neurology private practice in your state. Apply for the required legal documents and wait for them to be issued to you before you start your practice.


2. Secure funding for your medical practice. Approach banks, credit unions and other financial sources to obtain the funds you need to start your neurology practice. Also consider applying for federal and local grants. Contact your local Small Business Administration's office for assistance in obtaining the funds you need. They have knowledgeable consultants who can give you the advice you need to get your medical practice started, including securing start-up capital.


3. Purchase insurance coverage for your medical practice. Contact your insurance agent and buy adequate insurance coverage including medical malpractice, liability, disability, property and workers' compensation. For more information on how to apply for medical malpractice insurance, visit thedoctors.com.


4. Select a location for your medical office. Find a location that is convenient for patients and has enough space to accommodate all your medical equipment and office supplies as well as patients' waiting. Shop around and compare several buildings to find one that is just right for your practice.


5. Purchase supplies and equipment for your practice. Buy the equipment and supplies you need to run your medical office including computers and software, furniture, exam tables and other items. Contact other clinics and medical offices you know to find out where to get your equipment and supplies.


6. Contract with major insurance companies. You need to set up to accept insurance payments. Contact health insurance companies in your state and submit your credentialing application, along with the required documents. This process can take several months to be completed so begin the process early on. To find out how you can get set up to accept Medicaid and Medicare, visit the website of the Centers for Medicare and Medicaid Services.


7. Hire your medical office staff. Hire a medical assistant, a nurse, an office manager and a billing and collection specialist. The number of staff you need will depend upon how busy your medical practice gets. It is extremely important that you thoroughly check their background to be sure they are well qualified and reliable.


8. Market your neurology practice. Advertise your medical services and consider creating a website that describes what medical services you provide, the location and business hours. Network with family doctors and general practitioners as these physicians are in a position to refer patients to you.