Starting a private medical practice

A journey of resilience and purpose

Dr Taz grew up in Bo-Kaap, Cape Town, in a family of twelve. At 15, she became a teenage mother to a premature baby who spent months in intensive care. A kind doctor’s empathy during that time inspired her to pursue medicine.

“Just that empathy he showed me, I knew that’s something I wanted to extend to others in vulnerable situations,” she says.

She later studied at The University of the Witwatersrand, working full-time in retail to support herself. When a scholarship fund disappeared and she faced R500 000 in unpaid fees, South Africans came together online to help her graduate.

“That’s how I earned my nickname ‘The People’s Doctor’. The people of South Africa put me through school.”

Experiencing public vs private medical practice

After completing her internship at Chris Hani Baragwanath Hospital and community service in Limpopo, Dr Taz found herself among 800 unemployed doctors. Instead of waiting for opportunities, she used her voice and social media following to advocate for systemic change.

Through a nationwide campaign that included protests, marches and public awareness initiatives, she helped secure placements for nearly 400 doctors. Along the way, she recognised that while advocacy can drive awareness and action, long-term solutions require sustainable, innovative approaches that empower individuals to take ownership of change.

Starting a private medical practice: What doctors aren’t taught in school

Co-host Steven Macarounas, who has spent nearly four decades advising medical professionals, points out that most doctors enter private practice unprepared for its business realities.

“Doctors are trained to heal, not to run businesses. Yet the moment you open a private practice, you’re an entrepreneur, managing finances, compliance, marketing and people.”

He emphasises that success when starting a private medical practice requires understanding tax, accounting, legal contracts, marketing and risk management; areas often missing from medical curricula. This knowledge, he argues, is essential not only for financial success but for ensuring that doctors can serve patients and live balanced lives. They also explore the growing role of social media in establishing a personal brand and reaching patients more effectively, a vital skill in today’s digital-first world.

“You can be the best clinician in the world, but if your community doesn’t know you exist, what’s the point? Marketing isn’t about selling, it’s about communicating value.”

Support networks for doctors transitioning to private practice

Transitioning into private practice isn’t just about clinical expertise, it’s about mastering financial management, legal compliance and business strategy.

Gareth Harvey of Investec echoes the need for financial education early in medical training. He highlights the challenges young doctors face, from managing credit responsibly to financing the high upfront costs of starting a private medical practice in South Africa.

“Starting a practice requires significant financial investment; rent, equipment, staff and technology. It’s crucial to plan for this early, build credit wisely and partner with professionals who understand the medical industry.”

Investec partners with initiatives like the South African Health Business Academy (SAHBA) to help young doctors develop the financial literacy and business insight needed to thrive in private practice.

From understanding start-up costs and legal structures to managing cash flow and marketing, this episode breaks down the real-world challenges doctors face when turning their practice into a thriving business.