Thinking about starting your own private medical or surgical practice? Where do you even begin? This is business 101, basics for the modern physician.

In Episode 2 of The Business of Surgery, facial plastic surgeon Dr. Lauren Umstattd breaks down the financial and operational foundations of launching a physician-owned practice. From loans and lines of credit to pricing, startup costs, and creating a premium patient experience, this episode is a practical guide to the business skills physicians rarely learn during training.

Whether you're a medical student dreaming about entrepreneurship, a resident considering private practice, or an attending ready to build something of your own, this episode offers an honest look at what it really takes to get started.

In this episode:

• How to finance a private practice
• Loans vs. lines of credit
• Building your first business plan (pro forma)
• Managing startup expenses
• Buying equipment without overspending
• Pricing medical and surgical services
• Creating a luxury patient experience
• Why physicians can succeed as entrepreneurs
• Learning from other surgeons and business owners

The Business of Surgery is a 12-part summer series on FEM, MD, where Dr. Lauren Umstattd shares the lessons she learned building a thriving physician-owned cosmetic surgery practice, from startup to long-term growth.

New episodes every Wednesday.

Host: Dr. Lauren Umstattd

Connect with Lauren: @lauren_umstattd_md

Produced by: The Hippocratic Collective

See more shows and content at hippocratic-collective.com