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Running a private medical consulting practice means you’re both a clinician and an entrepreneur.

1. Strategic & Business Planning

• Business model design: Define your niche (e.g., clinical consulting, medico-legal advice, healthcare operations).

• Market analysis: Identify target clients—hospitals, law firms, insurers, start-ups.

• Goal setting & growth planning: Set revenue targets, growth milestones, and expansion strategies

2. Financial Management

• Budgeting & forecasting: Track expenses (office, technology, staff) and predict cash flow.

• Pricing & billing: Structure consulting fees (hourly, retainer, project-based), and manage invoicing.

• Basic accounting & tax literacy: Understand profit/loss, and coordinate with a professional accountant.

3. Operations & Practice Management

• Project management: Plan timelines, deliverables, and milestones for each client engagement.

• Process optimization: Develop repeatable systems for intake, reporting, and follow-ups.

• Compliance & legal awareness: Maintain HIPAA (or local privacy law) compliance and professional liability coverage.

4. Marketing & Business Development

• Branding & positioning: Build a clear personal brand and unique value proposition.

• Digital presence: Professional website, LinkedIn, thought-leadership content (articles, webinars).

• Networking & referrals: Maintain relationships with physicians, lawyers, hospital administrators, and other potential referral sources.

Most importantly for us at AJC, partner up with a good secretary who can help you with a lot more than just dictating letters and answering telephone calls and emails. Somebody that understands business too