Accountants: The “problem solvers” of the healthcare industry (Part 1)

Running a business presents daily challenges, and every decision requires observation, analysis, and multiple considerations. Accountants, also known as “problem solvers,” handle audits, tax reporting, financial evaluations, and restructuring, and provide suggestions for a company’s development. Experienced accountants can often anticipate a company’s future development, identify potential problems early, and provide solutions. They are not “prophets,” but rather rely on observation, experience, and accurate judgment to address problems early.

Part 1: Independent practice vs shared clinics in the healthcare industry

Many medical graduates accumulate experience in public hospitals before they mature or obtain specialist qualifications and then leave their comfort zone. In recent years, the sharing economy has emerged, with resources and space being shared among professionals. For “newbie” doctors who leave public hospitals with enthusiasm, how do they choose between independent practice and shared clinics?

● Acquiring clients

Most doctors who previously worked in public hospitals and later set up their own clinics or partnerships. Preparing to open a clinic involves obtaining the relevant licenses, handling equipment and human resources, which requires significant time and capital. However, the biggest challenge is actually establishing a client base.

Medical services differ from other industries, as clients’ willingness to “consume” is based on trust and a sense of security. Medical care is not like shopping where fresh, new options are desirable. Generally, patients choose a nearby clinic, a familiar doctor, or one recommended by a friend. A new clinic needs time to establish trust, familiarity, and a good reputation, coupled with appropriate advertising, to gradually stabilize its clients.

Shared clinics, on the other hand, offer a “hub” for doctors, providing stable service quality and a good clinic image, which helps to attract patients. Through system distribution, doctors can receive new patients, and client sources are relatively stable, making it easier to establish a “regular clientele” and help with future independent clinic development.

● Equipment and staffing arrangements

Setting up an independent clinic means building everything from scratch, including site selection, renovation, all operational arrangements, and recruitment. Clinic renovations and equipment must meet certain specifications, and the procurement of drugs and medical equipment also requires considerable time and effort. For doctors whose profession is treating patients, recruiting nurses, handling personnel, and arranging schedules can be particularly challenging.

The advantage of shared clinics is that they have complete sets of equipment, including examination rooms, treatment rooms, reception areas, and pharmacies. Doctors do not need to handle personnel arrangements, daily operations, or administrative affairs. In terms of work, doctors only need to focus on what they are good at, namely handling patient needs and maintaining high-quality service.

● Building personal brands

During the initial stage of a clinic’s operation, it is necessary to gradually build up a customer base, establish a team to support daily affairs and actual operations, and face different challenges. However, when starting an independent practice, the clinic usually uses the doctor’s name as its “brand,” which is more conducive to establishing a distinct personal brand. The healthcare industry values reputation, and when positive reviews and recommendations are directly tied to a doctor’s name, it also enhances their market competitiveness. Compared to doctors at “XX clinics,” creating a personal brand and establishing a connection with customers helps to expand the customer base.

Leaving one’s comfort zone will inevitably lead to various challenges or difficulties. Careful consideration is necessary when choosing a path. There is no winning method, only the most appropriate choice for you. Consult with a senior accountant, analyze your current situation and goals, and understand your needs before setting out!

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