How Dermatology Business Loans Can Help Grow Your Practice
QuickBridge offers small business loans to help you build an unblemished practice. Some of the best ways you can use your dermatology business loans include:
Business Expansion Loans
When you’d like to attract more customers, a business expansion loan provides capital to help you grow quickly. Dermatology business loans can be used to purchase or lease a new location. This can bring in new clients and increase business from existing clients who are closer to the new practice.
As a dermatologist, you work with clients to improve the health of their skin. In addition to recommending over-the-counter products, you might also like harder-to-find remedies. Therefore, helping clients tackle skin problems can include selling those specialty products right from your office. You can use dermatology business loans to stock up on inventory.
Not only do you need to ensure the highest care for your patients, but as a health provider, you need to comply with federal regulations. That’s why equipment loans for dermatology practices can be used for more than lasers and scalpels. The best example of this is with federally-mandated electronic medical record (EMR) systems. Keeping paper records is a thing of the past. Now, most every practice has switched to EMRs, and many are looking to upgrade to Electronic Health Records (EHRs). EHRs offer a better ability to share patient records among their healthcare providers. According to an EHR in Practice report, 38% of healthcare CIOs named EHR optimization as their organization’s top planned investment in the near future.
Although this software is intended to streamline and improve health care, it is costly. A study from Health Affairs found that it costs about $162,000 to implement an EHR system, plus about $85,500 for maintenance costs in the first year alone. In addition, teams can expect to spend about 611 hours training on the new system. If you don’t have the cash to handle the upfront costs, dermatology business loans can help.
Physician referrals aren’t the only way to acquire new patients for your dermatology practice. Local advertising can be the key to successfully attracting new clients. You can use dermatology business loans to create targeted Facebook advertising campaigns to reach new patients in your area. The funding can also cover newspaper and radio ad costs. And if you don’t have time to manage this task, you might use marketing loans to hire someone who can.
Business Operating Loans
QuickBridge offers business operating loans that keep your practice running smoothly. While products like SBA loans have strict usage guidelines, our working capital can be used for multiple business purposes. We know we don’t understand your business as well as you do. So why would we limit how you can spend your dermatology business loan?