To say that the healthcare community is struggling because of COVID-19 would be the understatement of the century. The essential workforce is already too exhausted because they haven’t been able to catch a break since the pandemic began, but there are no signs of the virus letting up anytime soon.
But there is progress in the form of vaccinations. Currently, about 163.9 million Americans, or 49% of the total U.S. population, are fully vaccinated. Still, that doesn’t discount the need for healthcare facilities to help fight against coronavirus. So, if you’ve been trying to find the perfect time to open your own practice, this is it. And here are three reasons to prove why you should do it now:
1. There’s a Big Demand because of Overcrowding
Unless you’ve been living under a rock, you would know that most hospitals all over the world are at maximum capacity due to the ongoing health crisis. There are not enough beds nor healthcare workers to accommodate all the patients who need medical attention, and most people are at their wit’s end.
Indeed, COVID-19 is one of the deadliest pandemics ever to hit the earth. It’s even more frightening now with the surges of the Delta variant, which is said to be the most contagious strain of coronavirus to date. Most, if not all, of the hospitals are already overcrowded and can no longer cater to other patients.
It’s safe to say that there is a big demand for healthcare services but not nearly enough people to provide them. That’s why if you’re thinking of opening your own practice, this could be the right time for it because you can accommodate the patients who want to stay away from big hospitals for fear of contracting the virus.
2. Help out Other Businesses That Are Struggling
The healthcare community isn’t the only industry that suffered a huge blow when the pandemic hit, although they did have the most casualties. Small to medium-sized businesses also struggled with the pandemic, especially since it had a big impact on their sales and bottom line.
If you were to open your own practice, you could help equipment suppliers, and vendors stay in business by getting everything you need for your clinic from them. Granted, you won’t be buying a boatload of equipment such as ergonomic steel utility carts for an entire hospital, but it’s still better than having zero sales at all.
At least this way, you can help out the other businesses that have been struggling ever since the pandemic began. So, if you decide to go through with this plan, make sure to research which businesses will benefit most from your help and get your equipment from them. But don’t compromise the quality of your purchases in the spirit of altruism.
While helping out other businesses in need is important, you also must consider what will benefit you. After all, you’re starting a business here. It would bode well for you to make a list of the equipment you need for the practice so that you won’t go over your budget in the process. Besides, you won’t want to be operating in a deficit from the get-go.
3. Learn from Other Practitioners’ Mistakes
One of the biggest challenges that medical practitioners faced during the onslaught of the pandemic is transitioning to the new normal. They likely cut their expenses and losses to stay in business, which could have meant letting go of non-essential positions or reducing their workload to make it more manageable.
It could also mean wasting a lot of their existing stocks and resources because they could no longer accommodate as many patients as they were used to. Making the transition couldn’t have been easy, which is why so many practices and businesses were forced to shut down eventually.
However, you can use that to your advantage. Since you’re opening your practice in the midst of the pandemic, you won’t have to make the rough transitions that other practitioners did. Instead, you can learn from their mistakes and apply them to how you will run your own practice.
For instance, you won’t have to rent a large space if you’re only going to accommodate a few patients a day, which means you won’t be leaving any rooms to gather dust. Also, you’ll only need to purchase the necessary equipment and tools to perform your duties as a medical practitioner, which can help you save money.
The point is that you already know what you’re facing because it’s been a year and a half ever since the pandemic began. You won’t have to go through the same dilemmas and problems that other practices did because you can make your business plan according to the times instead of having to adjust.