2 min read
25 May 2021

As a doctor, maintaining a successful practice and keeping yourself technically updated with all modern healthcare facilities is very important. Be it establishing a new medical facility or upgrading an existing one, the challenges that come with it are similar to the challenges faced by any business enterprise.

Setting up a new practice or a medical institution involves plenty of activities to be initiated from the beginning. Expanding current premises can range from enhancing your medical facilities and upgrading the equipment to hiring more staff to handle increased footfalls. You can cover all your practice-related expenses with a business loan for doctors.

Expand your premises

With an increasing number of patients and high-end medical facilities, expanding your premises to a larger one equipped with all ultra-modern healthcare facilities is obligatory. However, acquiring such property at an accessible location can cost you a fortune.

To nurture your ambitious projects and provide top-class facilities to your patients, you may need a steady source of finance.

Banks and non-banking financial institutions (NBFCs) provide doctor loans to facilitate such needs and expand your medical clinic into a high-end multi-healthcare facility. You can also avail of the loan in a Flexi format if you feel that your expansion expenses can't be correctly anticipated beforehand. With this facility, you can borrow when there's a need and prepay when you have surplus earnings.

Medical app development

The cost of medical app development is one of the aspects that should be considered to enhance your medical practice. Technology and the internet have transformed the healthcare structure of India. Doctors and patients are adopting virtual clinics for better reach and effective management.

Medical apps can automate the workflow that takes place in a medical clinic. Usual clinical works like medication tracking, appointment scheduling and patient and doctor communication can be easily carried out with the help of these medical apps. Such app development to initiate virtual clinics may cost you around Rs. 8-10 lakhs.

Upgrade your equipment

Acquiring new technology or upgrading your existing equipment is the need of the hour. Patients are increasingly looking for the comfort of all the medical facilities under one umbrella. Patients will not have to move from chemists to diagnostic centres, whether it's routine medical diagnosis or drug availability.

However, acquiring such equipment may involve a huge sum of money. A basic X-ray machine can cost you around Rs. 3 lakh, whereas high-end machines like MRI machines can cost you as much as Rs. 75 lakh. A doctor loan can be a prudent solution to go for if you are considering buying such equipment.

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