What are the elements of a medical practice business plan?
Abstract: Physicians tend not to get serious about a business plan until they need to go to a bank and ask for money. But there are plenty of other reasons to have a business plan — starting with the fact that physicians are, after all, running businesses. This article suggests four key elements of a good business plan, such as a marketing plan and a financial budget. By getting professional advice and generating a business plan early — and then revisiting it and restructuring it as the practice changes — a physician will be able to stay ahead of the curve in this rapidly evolving business.