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Going solo…… High volume, stringent quality, total control !

Going solo…… High volume, stringent quality, total control !. Dr A K Grover, MD, MNAMS, FRCS Chairman, Department of Ophthalmology, Sir Ganga Ram Hospital, New Delhi & Chairman, Vision Eye Centres New Delhi. Why solo practice ?. WHY SOLO PRACTICE?. Freedom. FREEDOM.

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Going solo…… High volume, stringent quality, total control !

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  1. Going solo…… High volume, stringent quality, total control ! Dr A K Grover, MD, MNAMS, FRCSChairman, Department of Ophthalmology,Sir Ganga Ram Hospital, New Delhi &Chairman, Vision Eye CentresNew Delhi

  2. Why solo practice?

  3. WHY SOLO PRACTICE? Freedom

  4. FREEDOM To pursue your dreams

  5. FREEDOM To pursue success

  6. FREEDOM Of thought and action not bound by straitjacket of physical and mental constraints

  7. FREEDOM • To choose work environment • Quality assurance • To pursue academics • Financial freedom

  8. FREEDOM • To develop your work environment • Work place • Aesthetics • Equipment • Employees • Work culture

  9. Work Place

  10. Work PlaceAesthetic set up

  11. Work Place • Front office

  12. Work Place • Outpatient services

  13. Work placeEquipment

  14. Work PlaceSpeciality services

  15. Work Place • Ancillary Services

  16. Work PlaceOperation theatres

  17. Work PlaceOperation theatre

  18. Work PlacePost operativePatient care areas

  19. Work Place Human Resource

  20. Work Culture Quality assurance

  21. Quality assurance Ensuring availability of and adherence to protocols Accreditation

  22. Work Culture Courtesy and behaviour

  23. FREEDOMTO PURSUE ACADEMICS Attend conferences / Other academic activities of your choice.

  24. FREEDOMManagement of finances Ensuring profitability

  25. Role of finances “A hospital should also have a recovery room….. adjoining the cashier’s office” Francis O’ Walsh

  26. FINANCIAL FREEDOM To invest in • Your work place • Your equipment • Your books /Journals.

  27. FINANCIAL FREEDOM • To give amenities to your family • To give the best education to your children • To enjoy comforts • To enjoy vacations Live life the way you want to.

  28. WHAT TO ENSUREBEFORE YOU BEGIN

  29. Questions to ask yourself ! • How much income am I willing to risk till practice develops? • How much debt am I willing to incur to reach a sustainable cash flow?

  30. Questions to ask yourself ! • Do business decisions and tasks really interest me ? • Is my family ready to fully support me and make necessary sacrifices ?

  31. ENSURE

  32. KNOWLEDGE

  33. ABILITY

  34. CONFIDENCE

  35. RIGHT ATTITUDE

  36. RESOURCES

  37. How does solo practice weigh against institution / group practice

  38. Institutional / group vs Individual PracticeDifferences pertain to: • Clinical Practice • Academics • Personal & Social Life

  39. Institutional / group PracticeDisadvantages • Administrative Responsibilities • Paper Work

  40. Institutional / group PracticeDisadvantages • Unable to mould the place totally according to one’s desire • Justification to be given for each equipment purchase • More accountability related to surgical output

  41. Institutional / group PracticeDisadvantages • Jealousies / Back biting

  42. Institutional / group PracticeDisadvantages • Financially much less lucrative

  43. SoloPracticeAdvantages • Ability to build / mould a place of your own -Can give expression to your ability / creativity

  44. SoloPracticeAdvantages • Flexibility in working • Greater control on working of staff

  45. SoloPracticeAdvantages Better financial returns

  46. Solo PracticeDisadvantages • More work • More Responsibilty

  47. Solo PracticeDisadvantages • Increasedhassles • Management of the set-up • Purchases • Inventories • Stock checking • Thefts

  48. Solo PracticeDisadvantages • More financial liabilities • House tax • Electricity bills • Water bills • Telephone bills • Maintenance costs • Insurance of equipment & space

  49. Solo PracticeDisadvantages • Official problems • NH recognition (need to fulfill requirements) • Hassles from civic agencies • Commercial rates of electricity, water, house tax, telephone

  50. SoloPracticeDisadvantages Official problems • Accreditation hassles • Empanelment hassles • TPA & Insurance hassles

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