How to Launch a Ketamine Clinic: A Guide for Healthcare Bosses
Picture this: You're a healthcare boss, but not a licensed medical professional. Or you're a physician in sunny California and you're looking to join forces with non-medical professional investors. You're all set to open a ketamine clinic, but you're not sure how to navigate the legal and administrative labyrinth. Sounds familiar? If so, you're in the right place. Let's dive right into the world of Management Service Organizations (MSOs).
MSOs: Your Ticket to Owning a Ketamine Clinic
MSOs are the unsung heroes of the healthcare industry. They handle the administrative grunt work associated with running a medical practice, including human resources, marketing, billing, and more. Large hospital systems and healthcare organizations rely on MSOs to keep their operations running smoothly.
Here's the kicker: Your non-licensed medical professional business partners or investors can establish an MSO. You, as the physician, would then create a professional corporation and enter into a Management Service Agreement (MSA) with the MSO. This is how non-medical professionals can get involved at an owner-level in starting a ketamine clinic in states where only licensed medical professionals can open medical practices.
The Corporate Practice Of Medicine (CPOM) & Ketamine Clinics
Before we go any further, let's talk about the elephant in the room: the Corporate Practice of Medicine (CPOM). In California, this is known as the Medical Practice Act. This law prohibits those without medical licenses from employing physicians or owning a medical practice. In other words, only licensed professionals can practice medicine, not corporations.
Not all states have this rule, which is why it's crucial to answer two key questions before starting a ketamine clinic: Where are you going to open the ketamine clinic, and who is going to own it?
In a nutshell, who can open a ketamine clinic depends on the state you're in and whether you're a licensed medical professional. A potential workaround for having non-medical professional owners or investors is to use an MSO. It may seem like there's a maze of rules and regulations to navigate, but don't let that deter you from starting your own clinic!
My hot take? Don't let the legal jargon intimidate you. With the right guidance and a knowledgeable business attorney by your side, you'll be well on your way to starting your own ketamine clinic.
Ready to Dive Deeper?
Want to learn more about starting a ketamine clinic? Register for our free Ketamine Clinic Masterclass and start learning how you can open your own clinic by understanding everything from clinical to business aspect.
So, do you have to be a medical professional to open a ketamine clinic? It depends on where you plan to open your clinic and the specific rules and regulations of that state. Now, it's your turn to make your move.