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Could i own a hospital at the age of 23?

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Corin’s Answer

Well.....I would say it is possible as all it takes to own a hospital is the appropriate amount of capital. I don't know your financial situation so it is difficult to say. However, I do want you to note many very experienced people open hospitals that fold fairly quickly. The reason for that is the way hospitals make money is not the same as the way a typical business makes money. You perform services prior to getting paid then have to wait for money to come in from insurance companies. While waiting for your payment, all your staff still needs to get paid, you still have to purchase equipment, etc...This requires a special revolving capital loan to keep you afloat for up to 2 years as you start to build. Proper medical coding to get top dollar for each service is a skill that takes 5-10 years alone to master. Not to mention extensive knowledge of malpractice insurance, provider credentialing, cost effective supply management, safe staffing, EMR maintenance, and facility credentially (JACHO, Leapfrog, Magenet....). The type of skill and in depth knowledge it takes to maintain this is not something I think you have right out of college to be honest. You also need to have industry connections that are built over years to ensure you are getting the best professionals to assist you. I would say this is a goal to be sought when you have built skills in all these areas.
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Hassan’s Answer

Sure, if you have the money and/or financing to acquire one.

It would help to have extensive experience running one. Otherwise, you'll have to rely on experienced management to do so but that will reduce the income.
Thank you comment icon thank you so much jakiya
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RAVI’s Answer

Yes, you can! You would need to have the money for sure and the financial backing by a lender, if you only have the down payment. In the latter case you also would need a sound business plan.

In any case assuming you do have the money to buy one, you would definitely need the expertise and experience running a business in general and running a hospital in particular!

If you do not have the skillset, you would lose the hospital with losses and chaos and probably be very disturbing for the local community which rely on the hospital.

I see you are student. I strongly recommend you do undertake a few steps before you buy and own the hospital.
Learn business management skills, people management skills, and specifically healthcare management skills.
Get some experts in the field to work with you.
Put a good business plan together and see if it makes sense to own one. Work and improve your business plan.
Then take the next steps.
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Chris’s Answer

Are you referring to owning a small practice as a doctor, or a large hospital? Realistically this doesn't sound feasible. Med school takes an additional 8 years at least, so you would be around 30 by the time you can start practicing independently.
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