Dudley Eye Care, P.C.. So you graduated…now what?
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Transcript of Dudley Eye Care, P.C.. So you graduated…now what?
Dudley Eye Care, P.C.
So you graduated…now what?
The Advantages of Private Practice
• I get to set my own hours
• I get to set my own eye exam prices
• I get to sell my own contacts and glasses
• I get to spend more time with my patients
Use UABSO ‘s resources
• Contrary to popular belief your professors are not here to make your life miserable…GET TO KNOW THEM!
• Get to know the frame reps• Get to know the contact lens reps• Get to know Michelle in optical• Start looking at exam forms and other
paperwork
Supplementing your Income
• My work schedule is crazy!
• Mondays, every other Wednesday, and every other Saturday I work outside my practice
• Tuesdays, Thursdays, Fridays, and every other Saturday I work at my practice
• I work 6 days a week
Your 4 new friends
• Attorney• Accountant• Commercial Lender• Commercial Builder (if you are
building your own practice)
Location Location Location
• Make use of the local Chamber of Commerce
• Find out projected growth in the area
• Find out traffic flow on your road
• Become a member!
What comes first?
• Set up your TAX ID (attorney)• Set up your Corporation (S corp
vs. C corp) (accountant)• If you are building your practice
find out if you need a Commercial Builder or if you can apply for the Builder’s Permit yourself and hire out the subcontractors.
• Business Plan- took about 1 month
(How many patients do I have to see per day to make this work?)• Pick a bank and find a good
commercial lender
Design It!
• Do I need to hire an architect?
• Eye Designs- pricey but good!
• Apply for your builders permit from your City inspector’s office.
How many business licenses do I need?
• AL State Sales Tax- for selling contacts and glasses
• 2 County licenses (in AL)-one for you as a doctor, one for your business
• 1 Local City License
(Most forms you can find online)
What else do I need?
• 2 NPI numbers-one for you as a doctor, one for the business (apply online)
• DEA number? (apply online, good for 3 years)
• Malpractice insurance (AOA)
• General insurance for equipment and office (Allstate)
Sales Tax
• Sales tax is due the 1st of every month NOT the 20th. The 20th is the grace period. You get a tax break if you file early!
• State of Alabama 4% Sales Tax
• County 2% which is broken down into 1% Educational Tax and 1% Sales Tax
• City of Bessemer 3% Sales Tax
Applying for the BIG 3 Medical Insurances• BCBS• Medicare-fill out 3 forms, one
for you as a doctor, one for your practice, and one rendering your services over to your practice.
• Medicaid-fill out 2 applications, one for you as a doctor, one for your practice
• This can take up to 60 days so start early and go online to download the forms!
Vision Insurance
• You don’t have to take every insurance out there.
• Decide who pays well and apply for a provider id.
Other Accounts
• Frames• Contacts• Labs• Optical supplies• Buying groups• Pharmaceutical reps
Don’t give up!