Estimated startup cost:
$5,000
Startup Costs
Launching a practice is do-able, but not cheap. Here are the expenses you can expect based on the inputs you provided in the form.
Credentialing
$300 per payer, assuming you get help.
Licensing
$500 per license, assuming you get help.
Incorporation
LLC incorporation in your state, including basic templates.
Business Registration
Costs to register your business in your state and federally.
Website Build
Costs of designing and launching a new website for your practice.
Branding Development
Costs to get basic brand needs completed, such as a logo and colors.
Legal & Compliance
Costs to make sure your opening a legal and compliant practice.
Your estimated monthly costs are $1,000.
Here's how much you can expect to run your practice once it's up and running.
Insurance & Legal Costs
Includes malpractice and liability insurance, legal needs, and a collaborating physician if needed.
Financial Costs
Includes banking and bookkeeping needs.
Technology & Services Costs
Includes key practice tools such as an EMR and patient engagement, marketing spend, and billing (if needed).
Employees
Includes additional costs of $4K for each additional employee.
Physical Location Costs
Since you are looking to open a physical location, here's what we recommend budgeting.
Startup Costs
Costs to launch your physical location.
Rent (monthly)
Monthly rent owed on your lease.
Utilities (monthly)
Utilities, maintenance, and cleaning.
Supplies (monthly)
Medical supplies to support the practice.
Your estimated monthly revenue is
$xxx
The more patients you attract to your practice, the higher potential. We assume each patient will earn your practice $75 per month, which will vary depending on insurance and service you're delivering.
Launching with Joy saves you money, time, and headaches.
Here's how we compare.
*Additional charges apply for Business Registration, credentialing and licensing, and physical location support.
Still not quite sure?
Book a free 15-minute practice consultation with one of our practice advisors to learn more and have all your questions answered.
