Think of your time – it counts a lot

Probably the biggest challenge when it comes to private practice is when you’re starting out for the first time. Surgeon Mr Dev Lall has some wise words.

You will need to build your own marketing machine if you want to avoid seeing patients effectively ‘for free’

Before you can even see your first private patient, there are, of course, a number of obligate costs: medical indemnity; consulting rooms; secretarial support fees.

And there’s little you can do about these expenses except take them on the chin, because until your cash flow exceeds your costs, you’re running at a loss.

This is why it’s so important to grow as quickly as you can as a new consultant in private practice. Until those costs are met, you’re losing money the same as any other business.