Using Locums to Start and Fund a Successful Private Practice

Using Locums to Start and Fund a Successful Private Practice

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Doctor Situation

Two talented urologists were unhappy with their employment in a major metropolitan area and sought to start a private practice together. They faced many challenges, including:

• Being compensated  >60% of MGMA avg. salary.
• Being located in area where cost of living and business costs are extremely high, precipitating substantial capital.
• Their patient and physician referral bases were partially established, but not enough for them to fully support their expenses from day one.

UrologyLocums.com Solution

UrologyLocums.com strategized with both doctors, developing a plan that met their financial goals, without taking away too much from their burgeoning practice.

• Develop a 30 day/ month consistent schedule for a period of 6 months to start
• Obtain licensure in states with the highest number of locums needs
• Ensure credentialing and payor enrollment in complete as soon as possible
• Gradually wind down from 30 days/ month to zero once home referral base established

Outcome

UrologyLocums.com’s ability to custom-tailor a solution for these urologists allowed them to establish a successful, self-funded practice in a highly competitive metropolitan area.

• Worked a total of 200 days of locums over a 9 month period
• Earned over $500,000 to procure office space, equipment, etc.
• Stopped working locums entirely once established
• Now a successful two-urologist group with $0 in outside funding