admin, Author at InvestingDoc

Why Doctors Stay Employees Rather Than Owners

December 30, 2019December 29, 2019 admin 1 Comment private practice

In 1980, almost 80% of physicians owned their practice or were partners in their practice and effectively co-owners. In 2016, that number dropped to almost 45%. Each year, it seems that another 3-5% of doctors choose to become employees rather than owners in their practice. The trend away from physician ownership in practices is quite disturbing. Without ownership, we are at the mercy of administrators or other physicians telling us how we are going to practice medicine (to a certain degree).… Read the rest

Practicing physician

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

December 2, 2019December 1, 2019 admin 2 Comments business

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

Debt personal finance

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

November 25, 2019November 24, 2019 admin 2 Comments paying off student loans

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

personal finance Practicing physician

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

November 4, 2019November 4, 2019 admin 12 Comments

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

Practicing physician

Get Back To Owning Your Career In Medicine

October 21, 2019October 20, 2019 admin 0 Comments physician ownership

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

Practicing physician

Why One Provider Primary Care Practices Are Dying

July 8, 2019July 7, 2019 admin 2 Comments medical practice, solo medical

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

Practicing physician

Buying Into A New Development For My Practice

June 17, 2019June 16, 2019 admin 2 Comments buying a medical office, buying an office, starting a new 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

Practicing physician

6 Months Into My New Medical Practice: An Update

April 7, 2019April 14, 2019 admin 1 Comment

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

Practicing physician

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

January 2, 2019January 1, 2019 admin 3 Comments employee, employer, hiring an employee, running a business

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

personal finance Practicing physician

Side Gig: Supplementing Income With Skilled Nursing Facilities

December 26, 2018December 25, 2018 admin 0 Comments

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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