We doctors think of ourselves as being professionals - experts who know a lot about medicine, and are trusted by our patients to help them to get better. However, we forget that when we start our own practice, we're not just doctors, we're entrepreneurs as well. To run a medical practice successfully requires a change in mindset - it's not enough just being an expert who can apply the science of medicine to healing his patients. When you start a private practice, you're also running a business, and the rule is simple - income needs to be more than expense if you want to survive and see more patients.
You have to remember that you're a business owner, and you have to learn managerial skills. This is something which some people are naturally good at, but most doctors don't like it. They feel it's a distraction and that it takes away time which they would rather spend in taking care of…
