+ LR-Icons —
×

You are leaving laurelroad.com

By clicking Continue, you will be taken to a third-party website. Laurel Road, a Brand of KeyBank N.A., is not responsible for the content, links, privacy policy, or security policy of third-party websites.

Continue Go Back
×

Thanks for your interest in joining us!

Laurel Road’s innovative engineering culture is enhanced by the scale and resources that come with being part of KeyBank N.A., Member FDIC. To see the full job details and apply for this role, you’ll be redirected to our KeyBank recruiting site.

Apply Now

FDIC-Insured - Backed by the full faith and credit of the U.S. Government

  • General
  • Doctors
  • Nurses
  • Find an ATM
  • Customer Service
  • About Us
General Doctors Nurses
  • Student Loans
    Back
    • Student Loan Freedom
      Explore your forgiveness and refinancing options with our student loan specialists.
    • Student Loan Forgiveness Counseling
      Get expert guidance on your path to federal student loan forgiveness.
    • Public Service Loan Forgiveness (PSLF)
      Learn how to qualify and stay on track for Public Service Loan Forgiveness.
    • Income-Driven Repayment (IDR)
      Understand your income-based repayment and forgiveness options.
    • Student Loan Refinancing
      Explore simple refinancing options that could help you save on student loans.
    • Resident Student Loan Refi
      Check out loan payment plans for residents, starting as soon as you match.
    Medical Student Loan Repayment
    A medical education is one of the most expensive career paths there is, with arguably one of the most rewarding payoffs — becoming a medical professional.
    Read the Guide
    Online Banking

    Medical Student Loan Repayment

  • Checking & Savings
    Back
    • Refinacing and Checking
      Save even more when you open a checking account during student loan refinancing.
    • Freedom Plus Checking
      Track your forgiveness progress and eligible student loan payments with our new checking account.
    • Linked Savings
      Access lower refinancing rates when you add a linked savings account with a qualifying account balance.
    • High Yield Savings
      Build your savings with a highly competitive interest rate.
    Making the Switch
    With a few clear guidelines on choosing a new bank and a step-by-step approach to making the switch, you can get it done with minimal fuss.
    Read the Guide
    Online Banking

    Making the Switch

  • Home Loans
    Back
    • Physician Mortgage
      Buy a home or refinance with confidence.
    • Mortgage Refinancing
      Personalized options that could help you save by refinancing or get you the cash you need.
    Physician Mortgages at Different Career Stages
    Learn why physician mortgages make sense for doctors at different point in their career.
    Read the Guide
    Online Banking

    Physician Mortgages at Different Career Stages

  • Personal Loans
    Back
    • Personal Loan for Doctors
      Customized personal loans for medical professionals.
    • Personal Loan for Residents
      Find personal loan options to help pay for expenses during residency and fellowship.
    Personal Loans for Moving or Relocation
    Learn how a personal loan could help with relocation costs for a new job.
    Get the Collection
    Online Banking

    Personal Loans for Moving or Relocation

  • Benefits
    Back
    • Member Benefits
      Discover all of the customized benefits for physicians and dentists.
    • Laurel Road Perks!
      Exclusive member discounts on premium brands, subscriptions, and services.
    • Premium Care
      Premium care specialists are available 5 days a week by phone or chat.
    • Financial Insights
      Tailored advice and insights for doctors by career stage, specialty, and location.
    Pursuing Passion with I'm Also a Doctor Series
    Three doctors share how their inspiring passion projects help make them better doctors.
    Read the Guide
    Online Banking

    Pursuing Passion with I'm Also a Doctor Series

  • Resources
    Back
    • Financial Resources
      Navigate your financial journey.
    • Customer Testimonials
      Hear what our customers have to say.
    • FAQs
      Get answers to frequently asked questions.
    • Press
      Find our news and press releases here.
    Saving for An Emergency Fund as a Doctor
    Investing in an emergency fund is a key element to early financial planning for doctors.
    Read the Guide
    Online Banking

    Saving for An Emergency Fund as a Doctor

Find an ATM Customer Service About Us
Sign In
  • Hiring a Staff, Building a Team for Your Practice

Hiring a Staff, Building a Team for Your Practice

So, you’ve decided to open your own practice. That’s great! You’ve probably realized that running your own practice involves much...

Published August 08, 2024 9 min read
Doctors and nurses in discussion at nurses station in hospital Overlay Background

So, you’ve decided to open your own practice. That’s great! You’ve probably realized that running your own practice involves much more than just practicing medicine. You’ll no longer be a doctor—you’ll be a doctor and a business owner. You’ll be in charge of everything from marketing to reception to billing and more. And you’ll have to manage many priorities competing for your time.

There are multiple roles and responsibilities that have to be managed. Someone has to check-in the patients. Someone has to take their blood samples. Someone has to checkout the patients. Someone has to do the billing. Someone has to monitor the overhead. And more. How are you planning to manage all of these roles? Do you plan on doing everything yourself? Or are you going to hire staff to help you? Part of the challenge of running a business successfully is to know what kind of help you need and when to bring it on.

How to build your team

There are varying schools of thought on the ideal ratio of physician to support staff but when you’re starting out, you should be able to function optimally with minimal staff and add to your head count as your practice grows. In order to keep your costs low, it might make sense to handle most responsibilities yourself to start and then add to your team when you’re unable to handle all the competing tasks that demand your attention.

Your first hire will likely be a receptionist. You’ll need someone to be your greeter and gatekeeper. Your second hire will likely be a medical assistant. Ideally, you’d hire someone who was willing do double duty as receptionist and medical assistant—they might cost a little more, but you’d be filling two roles with one person, which could very well be worth it. As your patient volumes increase, you might want to add a licensed or registered nurse to help fill out your roster. And as you continue to grow, an office manager will help alleviate your administrative burden. In the early days, the administrative side of your practice should be relatively easy to manage. It’ll also be good experience to understand the nuts and bolts of how your practice functions and stay on top of what needs attention. But as you get busier, hiring some administrative help will free you to get back to what you trained for—practicing medicine!

Receptionist

You’ll need someone to welcome patients, take their information, and process their insurance when they arrive. The receptionist will also help check them out, help with referrals, and schedule any tests and follow-up appointments at the end of their visit, as well as managing the paperwork of the office.

The average salary for a medical office receptionist is just under $30,000[1] but changes depending on the state, with a low of $23,000[2] in Florida and a high of over $32,000[3] in Massachusetts.

Medical Assistant

You’ll need a medical assistant (MA) to help you with your patients. They can handle a variety of tasks ranging from administrative to clinical, and you can tailor your assistant’s duties to fit your needs, whether it be managing front-office operations, patient flow, changing dressings, or whatever else is required. MAs are not only versatile, they’re cheaper than nurses with their typical salary averaging just over  $31,000[4] compared to a registered nurse’s average salary of just over $70,000[5].

The legal requirements governing the scope of activities that MAs can perform vary from state to state, so be sure to research which activities are covered in your area. Generally, MAs will be working under your license and are not allowed to give independent medical assessments or advice. However, they can provide clinical information on your behalf, as well as follow clinical protocols when they’re speaking to patients. It’ll be up to you to determine what duties they can perform, which is something that you’ll have to gauge by evaluating their work experience and observing them in action.

Medical assistants are an invaluable part of most medical practices. They help keep things moving by doing prep work, taking vital signs, and reading charts. One rule of thumb says that if you see 25 or fewer patients a day, you can get by with one MA to assist you. If you’re seeing more than 25 patients a day or are doing procedures in your office, a registered nurse, a licensed nurse or a physician assistant might be necessary.

Registered Nurse

Registered nurses (RNs) are more expensive than medical assistants, but they have greater scope in the activities they can perform, freeing you up to see more patients. If you’re performing procedures in your office, you’re going to need an RN. Given their more extensive training, they’re able to provide more advanced patient care like starting intravenous lines, administering chemotherapy treatments, and other treatments.

RNs can also speak to patients on the phone. They have more in-depth knowledge and are legally able to do things like discuss test results, whereas an MA would have to consult with you before they can respond to patient questions and concerns.

The rule of thumb with RNs is that if you’re seeing more than 45 patients a day, an RN may be more suitable to help you manage your patient load.

Licensed Practical Nurse

Like the name implies, licensed practical nurse (LPNs) operate under their own license (as do RNs), not yours. However, a licensed nurse works directly under the supervision of registered nurses and as such, may not fit the bill for what you need if you’re looking to gain the maximum leverage out of your team when you’re starting out. While cheaper than a registered nurse—the average salary for a licensed nurse is $45,000[6]—a registered nurse has a greater ability to deal with patients directly, freeing you up to see more patients. That being said, as your practice grows, adding a licensed nurse to your team could make sense at some point.

Physician Assistant

A physician assistant (PA) works in coordination with a physician and performs many of the same duties diagnosing and treating patients. Given their duties, they need more education and training than RNs and LPNs. PAs need a master’s degree from an accredited institution and then must pass the Physician Assistant National Certifying Examination (PANCE) to be licensed. Due to the higher education requirements, they usually earn higher incomes than nurses, with the average salary being just over $107,000.[7] You might consider hiring a PA when your practice expands to the point where you have limited availability to see more patients yourself.

Office Manager

Unless you’re expecting a massive backlog of patients right out of the gate, you won’t need an office manager to start. As your practice grows, hiring an office manager to take on the administrative activities and freeing you up to focus on patient care could make sense. Depending on your goals for your practice, an office manager may, or may not, be in your future.

In Summary

The number of staff in your office will depend on your specialty and patient volume. As your practice grows, you may find yourself adding clinical lab, radiology and imaging capabilities, and more. Keep in mind that the larger your staff is, the more time you’ll spend managing them and the less time you’ll have to spend with patients. But to start, you could probably get by with a receptionist and a medical assistant.

 

In providing this information, neither Laurel Road nor KeyBank nor its affiliates are acting as your agent or is offering any tax, financial, accounting, or legal advice.

Any third-party linked content is provided for informational purposes and should not be viewed as an endorsement by Laurel Road or KeyBank of any third-party product or service mentioned. Laurel Road’s Online Privacy Statement does not apply to third-party linked websites and you should consult the privacy disclosures of each site you visit for further information.

 

[1] https://www.ziprecruiter.com/Salaries/What-Is-the-Average-Medical-Receptionist-Salary-by-State

[2] https://www.ziprecruiter.com/Salaries/What-Is-the-Average-Medical-Receptionist-Salary-by-State

[3] https://www.ziprecruiter.com/Salaries/What-Is-the-Average-Medical-Receptionist-Salary-by-State

[4] https://www.ziprecruiter.com/Salaries/Certified-Medical-Assistant-Salary#:~:text=Based%20on%20recent%20job%20postings,average%20annual%20salary%20of%20%2431%2C278.

[5] https://www.ziprecruiter.com/Salaries/RN-Salary

[6] https://www.ziprecruiter.com/Salaries/What-Is-the-Average-LPN-Nurse-Salary-by-State

[7] https://www.ziprecruiter.com/Salaries/Physician-Assistant-Salary

Was this helpful?

You May Also Like
Medical staff in discussion at nurses station in hospital

7 Step Guide to Opening a Medical Practice

Read ›
Doctor reaching for a patient's chart in a hospital.

Opening a Medical Practice Checklist

Read ›
Laptop, stethoscope, tablet displaying medical information.

Economics of Starting Your Own Practice

Read ›

Don’t miss the latest financial resources.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Get tailored Laurel Road resources delivered to your inbox.

    Share

    • Copy Link
    • Email
    • Social

    Social Media Share

    >

    Search Results

    0
    Laurel Road is a brand of KeyBank N.A. All products are offered by KeyBank N.A. Member FDIC. NMLS #399797. Equal Housing Lender. ©2025 KeyCorp®
    All Rights Reserved.
    Equal Housing Lender logo FDIC Member logo
    • About KeyBank
    • About Laurel Road
    • Leadership
    • Press
    • Refer-A-Friend
    • Apple Store
    • Google Play Store
    • Student Loan
    • Savings
    • Credit Card
    • Mortgage
    • Personal Loan
    • FAQ
    • I’m Also a Doctor
    • Contact Us
    • Partner With Us
    • Our Technology
    • Sitemap
    • Online Privacy Statement
    • User Agreement
    • Report Suspicious Activity