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  • Writer's picture Sanet Riekert

Starting a Healthcare Practice

Updated: May 31, 2023

Gareth Harvey is back; the National Banking Segment Head: Medical at Investec joins us to share best practice tips about starting a healthcare practice.

Starting a healthcare practice can be complex, but following these steps will help make your life easier and keep you on the right track.

Step one - Research
  • Services - what will you provide

  • Your advantage - what is going to set you apart from your competitors

  • Location - have calculations done to determine if it's better to rent or buy

  • Patient profiles - demographics, needs in the area, medical aid or private patients

  • Billing - it's complex, get training, hire an experienced billing person or bureau

  • Systems - what Practice Management Administration system are you going to use

  • Legal structure - personal or Inc to start with, for basic tax planning. More is needed for asset protection and estate planning

  • Equipment - cost, do you need finance, do you need forex

  • Patient experience - look and feel, the comfort of the practice

Step two - Registration
  • Be sure to do the following to avoid additional admin:

    1. Inc

    2. HPCSA, BHF, Medical Aids

Step three - Other things to get in place
  • Open a bank account in the Inc's name

  • Budget with your advisor

  • Marketing - website & SEO

  • Insurance - long-term, short-term, professional indemnity, cyber



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