How to get started with owning a practice after graduating

What should my credit score look like?

Owning your own practice will be an investment, and when applying for a loan, you want to be confident that your credit score is in a good place to make that investment. Aim for the 700s, but the higher the better, of course.

How do I choose a lender?

Although there are a lot of great lenders out there (like us!), we understand if you’re experiencing feelings of anxiety or hesitation when it comes to financing. As we said before, this is a huge investment you’re making, and that all starts with picking the right lender to secure your loan. You’ll want to find a team of people you can trust. With the right brokers, consultants, and CPAs who are specific to your industry, your mind can be at ease. You want a team who will walk you through all the steps, starting at the very beginning with the application process, and all the way to closing — that way you know which benchmarks and deadlines you need to hit.

How do I find the right practice for me?

A reliable marketplace, where you can research local practices available for purchase, can be a great tool for finding your dream practice. Even if you don’t want to get started immediately after graduation, getting a feel for what’s available is great preparation for when you’re ready to buy. If your production levels are high, you’re in really great shape. Lenders want to know that you can maintain revenues and that your target practice carries goodwill.

  • Strong cash flow margins
  • Manageable monthly operating expense
  • Fair purchase price — less than 100% loan-to-gross revenues (LTG)
  • You have an understanding of the seller’s practice philosophy (and it aligns with yours).
  • In a growing area that you’re familiar with
  • Working equipment or the opportunity to fix this equipment
  • Seller willing to stay on in a transition period after closing
  • Strong team that will remain on staff going forward
  • Year-over-year (YOY) revenues stable and/or growing
  • You’re capable of the same or higher production volume and procedure mix as the seller.

What if I don’t know where or how to get started?

Communication is key. Communicate your goals, concerns, and business plan to your network — you’ll be sure to hear that you’re not alone. At Provide, we want to address those concerns and share with you how we’ve helped clients in the same position. You’re well-versed in the field you’ve earned your degree, and that should be your main focus. It’s ok to not know the answers to these complex questions about borrowing and lending. That’s why we’re here to help!



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We help healthcare providers achieve their dreams of practice ownership through our 100% digital finance experience.