What do you need to know before starting a private practice? Know your numbers, and talk to experts that understand the business better than you.



Does it matter if I am an NP, DO, MD, DC can I start a private functional medicine practice? Anyone with a license can start a private practice.



How do I prevent embezzlement in my practice? Manage your money carefully and be on top of where your money is going. 



Do not miss these highlights:



01:26 How Dr. Deb started her own private integrative medicine practice 12 years ago.



02:44  It takes a huge leap of faith to be able to go into private practice for yourself. Have faith in yourself and trust that you can learn absolutely anything you put your mind to. 



04:49 Private practices are up 6% since COVID, just in the first quarter of 2022 patients want to see per providers in private practice. 



05:30 Don't be afraid to ask people that are experts - Ask people around you for their guidance, ask questions so you understand what you're doing and what you're liable for.



09:43 You can get more people in faster and have more money in your practice by not having that long waiting list.



11:04 If you build a good reputation, spend time with your clients and get them results, more people will come because word travels. 



11:43 Don't niche down your market so narrowly that your patient population is limited.



12:12 Find your ideal client. 



13:40 Know your numbers - You have to know the financial health of your practice, your numbers tell the health of your practice.



Resources Mentioned



Join Us in the FMBI Mastermind Group on Facebook.  You can find the Group at https://www.facebook.com/groups/5461914567153276/







Transcript of Episode #32:



0:01You're listening to the Functional Medicine Business Podcast featuring Dr. Deb, one of the most creative functional medicine business practitioners in her industry. She shares the wisdom and knowledge that she has gained over 25 years of functional medicine, a pioneer in functional medicine, scheduling, leadership and Practice Management. Dr. Deb has a wealth of knowledge and he's eager to share to help functional medicine become more productive, and for the practitioners and patients to live better lives. Our podcast shares the good and the bad of our industry because Dr. Deb knows the pain you live every day building a functional medicine practice with practical tools of how to manage money, taxes and patient care. She will discuss it all with you.



0:54Welcome to the Functional Medicine Business Podcast, FMBI. I'm your host, Dr. Deb and today's episode is the three keys to my success as a private practice nurse practitioner, we're going to talk about those exact three key steps to building a private integrative medical practitioner. So if you're a nurse practitioner, naturopath, physician, chiropractor, or do who is interested in starting their own medical practice, these tips are for you. Keep watching. I started my own private integrative medicine practice about 12 years ago, after I left another practice, I was an owner in this other practice by wanted to create a practice that shared like minded practitioners under the same roof. The goal was to share knowledge patients and provide a practice that could eventually run without me. When I tell you I was scared, that's an understatement. I remember telling my husband that we may not be able to survive, I didn't know how long it would take for me to collect a salary from this business. And it kept me up at night.