General practice tool kit

Becoming an owner of a general practice

Introduction

Last revised: 24 Oct 2019

About this module

Owning your own practice can be a highly rewarding experience, but you need to be fully prepared before you take the leap into ownership. This module takes you through the initial decisions and planning that will help you establish your new business: your general practice.

Running a successful general practice requires more than just having the clinical knowledge required to provide quality health care: it also requires understanding and managing the business aspects of the practice. Therefore, you need to seek expert advice from business specialists while you’re thinking about starting your own practice, and throughout the early stages, and regularly once you’re a business owner. Most owners of general practices take advice from a business advisor, an accountant, a financial advisor, a lawyer, and a practice manager who has appropriate experience in the medical field.