Financial Breakdown Of A Primary Care Clinic: How Much Money Does It Make

Today we are going to take a look at the financial breakdown of a primary care clinic that has recently opened. The numbers in this post are not my clinics financial numbers exactly. I don’t want to “dox” myself and I want to give anyone interested an idea of what is generally possible if you work hard. I’ve used the national average income for primary care physicians for gross revenue.… Read the rest

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How I Paid Off $150k In Loans In 1.5 Years

About one and a half years after graduating residency, I paid off all my student loans! In total, I paid off  about $150k in student debt. Yes, this post is a bit delayed since I paid off my debt almost 2 years ago but it is one of the most common questions that I get emailed to me. How did you pay off all your debt so quickly? … Read the rest

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Reaching $100k in gross revenue per month one year after opening

November will mark one year since I went full time in my primary care practice. It has been a hell of a journey. From all the initial headaches, to now things starting to smooth out. The biggest headache was that Aetna took 9 months to credential me. Not only did they take forever to get me in network, they lied to me and told me I was in network (They even had me listed as in network on their website before taking it down).… Read the rest

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Get Back To Owning Your Career In Medicine

I’ve been out of training now for several years and in that time I’ve seen quite a bit of change in medicine already. Independent doctors are becoming the minority. A career in medicine for physicians is shifting from business owner to being employed by an investment group with a primary means to make money for its investors. This seems to be occurring throughout almost every specialty of practice.… Read the rest

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Why One Provider Primary Care Practices Are Dying

Primary care is not dying. Solo primary care is dying. Doctors who remain solo will continue to have a hard time at a viable practice going forward. This may be a bit striking, especially for me to say since I went into solo practice. I started my practice initially as part time June 2018, then transitioned to full time October 2018.… Read the rest

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Buying Into A New Development For My Practice

Rent where I’m located in Texas is very very high. Most places that are in grade A office buildings are going to run about $45 per year per square foot (including all fees / NNN). This means that a 2,000 square foot office is going to rent for about $90,000 a year. Sounds insane, I know. The alternative is to rent a building in a less desirable neighborhood or a less desirable building.… Read the rest

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6 Months Into My New Medical Practice: An Update

I have finally hit the six month anniversary since my medical practice opened doors. To say there has been a learning curve would be an understatement. Most of the learning curves center around how to navigate insurance companies. Choosing to open a medical practice is not for those who want an easy payday. In the past six months a lot has happened, and I mean A LOT.… Read the rest

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We Hired And Then Fired Our First Employee In Less Than 2 Months

Choosing when to hire our first employee was one of the hardest things that I had to do when starting my business. Hiring employee number two (I’m technically employee number one) is an exciting time in a young businesses life-cycle. Hiring an employee is in some ways a guarantee to the employee to have their job and paycheck available. Something that I didn’t want to take lightly.… Read the rest

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Side Gig: Supplementing Income With Skilled Nursing Facilities

Picking up extra shifts in a subacute care facility sounds like a wonderful idea. Almost no overhead is involved for the physician, especially since most doctors already have a laptop and a malpractice policy. It seems like a natural progression that almost every hospitalist or primary care physician goes through, telling yourself that you can make extra money doing subacute care.… Read the rest

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Starting Up A New Primary Care Clinic

I’ve decided to go solo by starting up my own primary care clinic! The past two years have been extremely exciting with tons of change. I graduated from residency, started working as a hospitalist, bought a house, paid off all my student loans, became medical director of a skilled nursing facility and a second facility, have completed over 50 locum shifts, watched my better half have two surgeries for a tumor in her jaw, and I’ve now started up my own practice.… Read the rest

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