How I learned to overcome the fear that comes when building a private practice

Starting a solo private practice can be a frightening endeavor. However, for the ophthalmologist with an entrepreneur inside them screaming to get out, the fear is part of the joy of the venture.

If you are considering opening your own private practice, a good starting point is to understand your vision, your core values and how you want to make a difference. In this article, I’ll outline the steps that I took when I first opened Oklahoma Eye Surgeons in Oklahoma City in 2019.

SEEK SUPPORT WHEN STARTING OUT

The first lesson I learned was to have crucial people supporting me behind the scenes. Along with an attorney, this included a CPA who was more than just a number shuffler — he was also a proactive visionary who wanted to participate in the success of my business. I consider him to be one of my closest allies. You need to find a CPA who will meet with you monthly to at least quarterly and who proactively keeps up with changes in the tax code and creatively makes financial recommendations catered to your practice.

Also critical to the process was hiring a medical consulting firm specializing in ophthalmology to help me set up my practice in every aspect: IT services, HR services, credentialing, billing, etc. Although expensive, I simply could not have started a practice without them.

FIND STRATEGIC PARTNERS

I have also learned that you need as many strategic partners as possible. This concept of strategic partnerships extends not only to staff and consultants, but also to referring physicians, loyal patients and even industry.

I do not think of drug and device representatives as annoyances to endure but rather as partners in providing excellent patient outcomes. This simple change in your perspective about them will expand your opportunities for growth, and you’ll find joy in the long-term relationships with them. In fact, your kindness and interest in their lives and your encouragement of their work spills over to your referral base upon whom industry also calls.

BE CONTENT BUT NEVER SATISFIED

I tell my staff that I am content but never satisfied. I enjoy every moment of my life, but I am always seeking new ways to improve myself, my practice and the quality of the experience of both my patients and my staff. Reassurance of staff and showing appreciation in little and big ways is one way we increase the joyful mindset. For example, in the first meeting of the year, we asked all staff for one way they have felt appreciated in the past. Leading with gratitude and grace, showing compassion for staff and for patients and allowing for continued learning for staff is important for the culture of the office. I promote continued learning by encouraging staff to get certifications and subsidizing the tests for certifications.

In addition, I want every member of my team to not say “TGIF,” but to be excited about Monday because they know they get to be back with their other team members who are committed to changing people’s lives. We are not looking for warm bodies to fill positions so we can check boxes. My supervisors tell every perspective hire, “In order to work here, you must keep up with Dr. Sarkisian from a joy perspective.”

PROTECT YOUR PERSONAL LIFE WITH SAME FEROCIOUS INTENTION AS YOUR OFFICE

Finally, I have learned that being a CEO can be all-consuming. Leave your phone in a different room during personal time and focus on the people in front of you. You must be mindful of those in your personal life that matter the most to you and nurture and protect your relationships with family and close friends, who are your greatest allies in this endeavor.

CONCLUSION

When deciding to open your own practice, you should first understand your vision, your core values and how you want to make a difference. Seek support only from experts who want to see you and your practice succeed — this includes your attorney, CPA and consultants. When looking for strategic partners, this can even extend to industry; drug and device representatives can be valuable partners in providing excellent patient outcomes. Be content but never satisfied — there is always room for improvement for yourself and your practice. Also, protect your personal life with the same ferocious intention as your office. And remember, stop and feel the joy in the work you are doing. OM

Steven R. Sarkisian, Jr., MD, is a fellowship trained glaucoma, cataract and anterior segment surgeon, former professor of ophthalmology and glaucoma director, and is the founder and CEO of Oklahoma Eye Surgeons, PLLC in Oklahoma City. Dr. Sarkisian co-authored the book, “Minimally Invasive Glaucoma Surgery, A Practical Guide.” He, his wife and their four children live in Edmond, Okla.