New Private Practice - Expected Breakdown by Patient Type

Hi everyone,

I wonder if anyone can help me with a quick query.

I qualified in 2009 and have been working in the NHS since - primarily outpatient MSK.

I'm looking to make the move into private practice, and my bank has asked me to put together a business plan. There are a couple of elements I'd like to check, to make the plan as accurate as possible.

- I'd like to target private-pay patients, but I'm not sure how realistic this is as a new private practitioner. Is there a 'typical' profile of patients for private practice (e.g. 20% private, 30% NHS, 50% medico legal?) What does this look like for a more established practice?

- I've noticed there are a number of practices for sale, e.g. on this website. Is this a route worth investigating? Would I be able to 'take over' the practice's patients, or is it more about taking over the physical space and equipment?

Thanks in advance for all your help!

Jon

Hi Jon,
The first steps are the most difficult and it looks like you are running into funding difficulties.
How about starting off in a different way, by taking a room ( paying by the session for the space and services only) in a multidisciplinary practice.
You may be able to do a phased start by taking sessions while maintaining some NHS work and/or working in someone else's practice as an Associate.
That side steps e funding issue!
Also your co-workers in the practice will be able to cross refer....
Take a look at
Healthcare On Demand | New, User-Friendly Multidisciplinary Clinics: Guildford and Godalming

Good luck!
Jane

- - - Updated - - -

Hi Jon,
The first steps are the most difficult and it looks like you are running into funding difficulties.
How about starting off in a different way, by taking a room ( paying by the session for the space and services only) in a multidisciplinary practice.
You may be able to do a phased start by taking sessions while maintaining some NHS work and/or working in someone else's practice as an Associate.
That side steps e funding issue!
Also your co-workers in the practice will be able to cross refer....
Take a look at
Healthcare On Demand | New, User-Friendly Multidisciplinary Clinics: Guildford and Godalming

Good luck!
Jane

Hi Jon. I've been running my physio clinic in New Zealand for over 5 years so unfortunately cannot give you the percentage patient-type split since I'm not in the UK.
However in terms of buying a private practice - yes, you generally buy the existing clientele as well as physical assets (equipment, etc). This is very important as your patient or client list takes time to build so if you can buy it - it is certainly a bit of a shortcut to success. You can market to that list virtually for free to get returning clients buying more of your services/product. Do you see how valuable it is. Much better than paying for expensive advertising to attract NEW clients/patients.Always insist on 'taking over the prctice's patients' when buying one... otherwise what are you actually buying?
Another advice I would give you is get some business/marketing training. Most of us physios... well, lack business skills and hence make lots of mistakes and struggle to earn a good living. I have a business coach who I have dealt with over the years and it certainly helped me immensely (he is reasonably priced too). Let me know if you want me to share his contact details.