We bill for independent CRNA groups, so you might expect us to say everyone should start one. We won't. A group that starts too early can lose money for a long time, and some never recover. Here's when to wait.
- !No anchor facilityNobody has asked you to cover their cases yet. A group without a contract is a company with costs and no revenue.
- !Not enough volumeFewer cases than one full-time CRNA can do. You'll earn less than a good 1099 rate.
- !Thin cash reservesYou can't cover several months of costs before payments arrive.
- !A restrictive covenantYour current agreement stops you working at the facilities you'd want.
- !Supervision rules you can't meetYour state or facility requires physician supervision, and you have no arrangement for it.
- !You don't want to run a businessHiring, contracts, payroll and coverage will take real time every week.
What to do instead
- Work 1099 first. You'll earn more than a W-2 job, learn how facilities run anesthesia, and find out which ones want more dependable coverage.
- Join a group with a partnership track. You'll learn the business from the inside before you put your own money in.
- Build cash. Several months of costs in the bank turns a stressful first year into a manageable one.
- Get the restrictive covenant reviewed by a healthcare attorney before you plan around a facility.
Signs you're ready
- A facility has said it wants you, or your group, as its anesthesia provider.
- The case volume supports at least two CRNAs.
- You have the cash to get through the wait for payer enrollment and first payments.
- You've priced malpractice, accounting, legal and billing, and the numbers still work.
If most of those are true, read how to start a CRNA group, and we'll happily talk through billing for it. If they're not, the best move is usually to wait.
Run your own numbers. The should I start my own CRNA group? calculator compares your W-2 pay with owning a group, and the startup cash calculator shows how much you need to cover the wait for your first payments.
General information, not legal, tax or financial advice. Talk to a healthcare attorney and an accountant before you form a company.