Financing a Private Practice: A Practical Framework for Plastic Surgeons.

Many plastic surgery trainees enter private or group practice, yet there is little guidance on financing strategies when starting or joining a practice. The aim of this article is to provide physicians starting or joining a private practice with a clear, evidence-based resource on financing options. Common funding avenues are described, ranging from traditional bank and Small Business Administration loans to equipment leasing, hospital joint ventures, and equity-based investments. Comparisons are made to characterize differences in control, cash flow burden, regulatory considerations, and long-term sustainability and to provide an overview of the advantages, limitations, and situational appropriateness of each option. Specific loan requirements, guarantees, and regulatory considerations are outlined, with an additional focus on legal guardrails and trade-offs associated with hospital partnerships and private equity. Physicians entering private practice face a critical early decision: how to secure the capital needed to launch and sustain their business. A wide range of financing options exist, and each comes with distinct advantages, limitations, and implications for autonomy and long-term growth. Ultimately, the right solution depends on factors such as capital needs, tolerance for risk, desired level of control, and future growth strategy.