Opening a private practice

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Establishing a successful private medical practice requires not only clinical but also business acumen. Before opening a private practice for business, a medical practitioner needs to consider a number of clinical and financial elements of good practice to ensure it operates lawfully and ethically.

E-learning module: Getting started in private practice

If you're starting a private practice, we recommend completing the RANZCP’s LearnIt module Getting started in private practice [member log-in required].

Module topics include:

Professional and personal considerations
Business setup and operational management
Patient engagement and care delivery
Work-life balance strategies
CPD and regulatory compliance

First steps to opening a private practice

Australia

Before commencing a private psychiatry practice in Australia, a psychiatrist should address the following:

medical registration
provider number(s)
prescriber number
Australian Business Number
business name registration
professional indemnity and other relevant insurance (e.g. public liability).

For more information see legal requirements for opening a practice in Australia.

Aotearoa New Zealand

In Aotearoa New Zealand, a psychiatrist undertaking private practice work should:

have medical registration and an annual practicing certificate
have professional indemnity
have a MCNZ Health Provider Index Number
be familiar with Special Authority application procedures for restricted prescription items
be familiar with the role of the Accident Compensation Corporation.

For more information see legal requirements for opening a practice in Aotearoa New Zealand.

Professional regulation

The purpose of professional medical regulation is to foster the highest standards of health care to protect the public and to maintain public trust in the profession.

A psychiatrist working in either Australia or Aotearoa New Zealand must be registered with their relevant regulatory body and ensure they meet and maintain the mandatory regulatory requirements prescribed by their relevant regulatory body. Refer to:

Contact

For enquiries about this information, contact policy@ranzcp.org

Disclaimer: This information is intended to provide general guide to practitioners and should not be relied on as a substitute for proper assessment with respect to the merits of each case and the needs of the patient. The RANZCP endeavours to ensure that information is accurate and current at the time of preparation but takes no responsibility for matters arising from changed circumstances or information or material that may have become subsequently available.