As one of the most essential industries in the world, the healthcare market presents an intriguing opportunity for many entrepreneurs. It may seem like a daunting process for those lacking a medical background, but the opportunity to build a business while making a positive impact on the lives of others is a hard prospect to pass up.
Are you qualified to own a medical practice? Here’s how to buy a medical practice without healthcare experience, and why entrepreneurs from a variety of backgrounds are perfect for the job.
KNOW THE RULES
Many states have laws in place that prevent corporations or non-physicians from owning medical practices in order to comply with “corporate practice of medicine” regulations and protect consumers from business owners who are more interested in profits than providing the highest level of healthcare possible.
The legalities around the practice of medicine can be a bit vague, though, and non-physicians may struggle to navigate the industry, especially if their goal is to open an independent business. The lines around what qualifies as a medical practice blur in regard to businesses like med spas and wellness centers, in particular. For conscientious entrepreneurs who want to provide essential healthcare in their communities but aren’t sure how to buy a medical practice without medical training, there are options to franchise with a trusted brand backed by experience and expertise in all areas of running a successful medical practice.
CONSIDER YOUR STRENGTHS
The healthcare industry encompasses a broad range of companies from medical equipment sales to home healthcare agencies, telehealth, and more. It is important for you to spend time determining your unique strengths and ascertaining the type of business that will best suit you. If you are a people-person, then you may want to consider a business that relies on daily interaction with potential customers. Or, based on your education and background, you may be best suited for a company that offers access to up-and-coming technology. Ultimately, one of the most important aspects to remember is whether you will remain passionate about the business path you are considering. By dedicating time to this, you can ensure that your business will retain your interest every day.
PARTNER WITH EXPERTS
Non-physician entrepreneurs who want to make a difference by looking into a healthcare business for sale can turn to American Family Care (AFC) to apply their business management and sales skills while trusting that their franchisor will assist them in staffing their centers with well-trained, qualified medical professionals who prioritize the highest level of care.
While nearly 85% of AFC franchise owners don’t come from a strictly medical background, our executive team brings that experience to the table and knows what it takes to hire and train the best medical professionals available. AFC provides support to handle operational issues, financial management, human resources and personnel issues, staff education and training, billing and collection services, medical equipment purchases and maintenance, and much more.
What you may lack in healthcare experience, you can make up for by providing strong leadership, organization, and support for your staff and clientele. While the clinical aspects of your business may fall outside your purview, the managerial duties will allow you to focus on growing and scaling your business.
MAKE AN IMPACT WITH AMERICAN FAMILY CARE
Estimates find that nearly 2 billion people across the world will be over the age of sixty by 2050. As the healthcare industry continues to adapt to address the needs of a diverse population, now is the perfect time to research how to buy a medical practice that prioritizes wellness and cutting-edge services. AFC works with qualified entrepreneurs from all backgrounds to build an urgent care business that provides both a reliable source of healthcare for your community and a promising investment opportunity for you.
To learn more about franchising opportunities with American Family Care, apply now.