DPC Myth #2: You Need a Lot of Money to Start a DPC Practice
I started my DPC practice in 2018 for less than $5,000, but I could have started for half the cost. My first mistake was paying a lawyer to create a PLLC (professional limited liability corporation) when this can be completed easily online for $50. My second mistake was feeling the need to immediately purchase expensive medical equipment. I spent over $2000 on an EKG and a spirometer prior to starting my practice. I didn’t use the EKG for the first 6 months, and it was over a year before I used the spirometer for the first time.
I felt like it was imperative to have everything I could possibly need for any medical situation, but I learned that it’s easy to order supplies as the need arises. Part of the beauty of DPC is the time and freedom to schedule follow-up appointments as needed without any additional cost for the patient. If a patient comes in, and they are due for a pap smear or they have a skin lesion that needs to be biopsied, you can order supplies and bring the patient back in a week once you receive them. For emergencies, you will be calling 911 regardless of the equipment at your disposal, and even if you happen to perform an EKG before the EMTs arrive, they will repeat it and so will the ER.
For equipment and supplies, I recommend starting out by purchasing what you know you will need to use for every patient for performing a basic examination, such as a stethoscope, pulse oximeter, B/P cuff, scale, stadiometer, and otoscope with disposable tips. You also need gloves, hand sanitizer, and sanitizing wipes.
I spent my first four years renting a single exam room from another physician to keep my overhead low. I bought a used exam table from a retiring physician for $375. Most of my furniture was used and very inexpensive. It’s also possible to start without a clinic space with a telemedicine plus house calls practice, which would have such low overhead that you would be profitable after your first few patients sign up. I became profitable with my 13th patient.
It’s easy and inexpensive to create your own website and business pages on social media. Eventually, I turned over my website management and social media marketing to my amazing marketing team, but I really enjoyed expressing my passion for DPC online during that first year of practice. One of my other costly mistakes was signing a contract to invest thousands of dollars on magazine ads with an ROI of zero dollars. Direct Primary Care is still a new idea, so don’t waste your money on print or radio ads. Ultimately, you are selling yourself, so you need to share your story, and you can do that for free online, and your first patients can help you to spread the word.
This DPC Mythbuster Series aims to debunk the most common fears, misconceptions, and half-truths that deter doctors from embracing Direct Primary Care. These opinions are from each individual blogger. You may or may not agree with them, but either way, leave a comment with your thoughts.
I have had a slower startup than I expected for individual sign ups. Six months after opening I am now going to buy an EKG (will start with a $500 for now and then get the SmartHeart when more revenue is coming in – then I will have a backup EKG). I went supply shopping at another good friend’s DPC clinic so I did not have to purchase boxes of things that I would not use before expiration. A local University had a warehouse clean out sale where I purchased some cheap, gently used furniture.