Medical Practice Franchise: What to Know Before You Begin

Having a medical practice franchise is a smart way for health care professionals to enjoy business ownership without all the hassles of a sole proprietorship startup. It’s all part of what we are experiencing as a new era in healthcare. The industry is always evolving, creating new opportunities for entrepreneurs in the healthcare market. Those healthcare providers keeping up with changes and trends in the industry will be able to provide better patient care in specialty franchises. Right now, there are great innovations and technological advances in specialty medicine and the need to improve the quality of patient care.

This evolution is causing a shift in the healthcare provider industry. More and more physicians are looking for alternatives to big medical practices and hospital work for a number of reasons. First, even prior to the Covid-19 pandemic, physician burn-out was recognized as a very real problem. The National Institutes of Health addressed the issue pointing out high patient loads and long hours contributed to the lack of a healthy work-life balance for medical providers. Now, the addition of the global pandemic has only exacerbated the mass exodus. Additionally, more healthcare workers want to return to a more patient-centric focus, providing high quality care in specialty fields.

Look for This in the Franchise You Choose

Franchising allows a physician to focus on patient care instead of day-to-day business operations. Franchising gives you a stable, efficient, and proven business model to follow with the assistance of medical and franchise industry experts who train, guide, and provide on-going assistance getting your business off the ground and running smoothly for the duration of your franchise agreement. However, not all franchises are the same, so there are a few things to know before you begin.

Prior to making a commitment with a franchisor, look for a practice that fulfills a need in an area that will draw in a patient base. Choosing a well-known, trusted, reputable brand name franchise to partner with, you have a built-in customer base right off the bat, which you can focus on growing.

Additionally, you must ensure that the marketing messaging of the franchise is on point and will be successfully conveyed to appeal to the patients you are trying to reach. No service-based business is successful without a solid customer base. One of the perks of franchising is that the franchisor makes their marketing plan accessible to all franchisees—that’s a benefit as long as the marketing plan is useful and functioning well.

Marketing yourself effectively can be the difference between a make-or-break business. You need to know the landscape. How well will you be able to position yourself against your competition? Remember, you have two goals. First, you want to provide a niche medical service to a target audience to improve their health and well-being. Secondly, that can’t be accomplished if a business is not successful. Look for a franchise that is positioned for growth and scalability.

Your success as a franchisee depends on the success of the franchise model, training, assistance, support, marketing, location selection, build-out, equipment and supply purchases, staffing and daily operations. Following the blueprint is not a guarantee for success, but it does provide the guidance and know-how to grow and thrive.

Franchises typically provide a quicker ramp up to your grand opening versus a start from scratch venture. However, you need your ducks in a row prior to opening your doors. A quicker ramp up is appealing because it usually translates to quicker profit potential, however, you don’t want to rush the process. Make sure protocols are in place, staff is trained, and you are prepared to provide top-notch for patient care.

Prior to opening your doors, you will need a good system in place for patient payments. We are living in a world with mounds of medical paperwork that may at times affect patient care. With healthcare hassles and challenges with insurance companies, patients are looking for a simplified system of payment.

Your revenue should be repeatable, so you can bank on recurring income. Medical practice franchises that are structured with repeat visits and continued care services and treatments will bring in dependable revenue streams.

Another benefit of franchising is that your franchisor is qualified and knows about medical rules and regulations governing a medical practice. In most states, a licensed medical practitioner must at least be part owner of the franchise for it to be considered lawful.

QC Kinetix is the Right Choice

QC Kinetix provides a high standard of care in an innovative healthcare business. The QC Kinetix model is ideal for both medical professionals and motivated entrepreneurs. We use the latest in natural, regenerative therapies that have been proven to be effective for countless patients suffering from joint inflammation, chronic pain, or a lack of mobility.

As a franchise owner, you’ll be equipped with the latest research, to provide patients with individualized, regenerative medical care that doesn’t rely on steroids, surgery, and pain medication. As a practitioner, you will have the opportunity to spend quality time with patients, allowing you to rediscover why you chose to practice medicine in the first place. This is a concierge model, freeing you from red tape and affording you the chance to enjoy regular office hours–providing the work-life balance you’ve been missing.

QC Kinetix is a well-respected brand name enjoying great success helping patients get back to enjoying life and helping you succeed. If it’s just what you’ve been looking for, let’s get started and take the next step in your career.

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