New Practice Guide to Support Physician-Entrepreneurs
LOS ANGELES, April 19, 2018 – The Cooperative of American Physicians, Inc. (CAP) today announced the release of another of its invaluable content resources for physicians, The Physician’s Action Guide to Starting Your Own Practice.
The autonomy of private practice is attractive to many physicians in the U.S. but, faced with burgeoning compliance costs and the introduction of complex new payment models, many are deterred from going it alone. Subsequently, 2016 marked the first year that fewer than 50 percent of private physicians owned their own medical practice. CAP’s comprehensive guide is aimed at bridging this gap by offering practical and actionable advice as to how physicians can navigate the challenges associated with establishing one’s own private practice, while ultimately positioning it for longer-term operational success.
The Physician’s Action Guide to Starting Your Own Practice reflects the collective experience of numerous CAP member-physicians who have transitioned from paid employee to self-employed practitioner. In addition, it collates valuable insights and tips from veteran practice administrators and CAP’s own team of practice optimization experts.
This “how-to” guide provides a roadmap with recommended tasks and time frames including: creation of pro forma, recruitment issues, legal requirements, financing options, risk management and business insurance, billing issues, real estate, equipment suppliers, information technology systems, and more. The publication’s implementation guidelines, checklist, and comprehensive list of vendors and resources also serve as tools to streamline the complicated process.
“Opening a private practice can be a daunting, but simultaneously rewarding, endeavor,” said Sarah Pacini, CEO of CAP. “In keeping with CAP’s commitment to positioning our physician members for success, this latest resource is replete with meaningful guidance for those that wish to enjoy the autonomy of their own practice while ensuring maximum patient satisfaction.”
In addition to its superior medical malpractice coverage, CAP offers a wide range of useful services and resources to physicians across all specialties, empowering them to focus on the provision of superior patient care. The Physician’s Action Guide to Starting Your Own Practice complements CAP’s extensive repository of vital content for physicians including its widely popular Risk Management Self-Assessment Kit.
To download CAP-published educational resources visit CAPphysicians.com/SYOP.
About the Cooperative of American Physicians, Inc.
The Cooperative of American Physicians, Inc. (CAP), established in 1975, offers medical professional liability protection to nearly 12,000 of California's finest physicians through the Mutual Protection Trust. In 2013, CAP organized CAPAssurance, a Risk Purchasing Group, to bring liability insurance coverage to hospitals, healthcare facilities, and large medical groups. Based in Los Angeles, CAP also has offices in San Diego, Orange County, Sacramento, and Palo Alto. For more information, visit www.CAPphysicians.com. CAP is licensed as a California surplus lines broker (License No. 0B72723). The insurance products provided under the CAPAssurance, a Risk Purchasing Group, program are issued by a “non-admitted” or “surplus line” insurer that is not licensed by the State of California.
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