Our office and my practice has been growing at a breakneck pace after the initial slowdown for the pandemic. We now have 5 doctors in total sharing the office which has 2 exam rooms in it. Two of those doctors are not employed by me, but sublease the current space of 800 usable square feet. It seems insane, but lets take a look at how I made all of this work to lower overhead and increase profits.… Read the rest
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What would happen if you were diagnosed with a terminal condition tomorrow? Quite a sobering thought, but I’ve been contemplating it lately in light of an upcoming appointment soon to get more life insurance. I’ve also been thinking a lot about Michelle. She was my roommate throughout medical school who passed away this year after a 2 year battle with signet cell colon cancer.… Read the rest
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Every professional has to have malpractice insurance. Doctors have malpractice insurance and even lawyers have their form of malpractice insurance. There are quite a few nuances in the malpractice insurance world. Today we will go over some of the important parts of malpractice insurance. I’ll also let you know how I made a mistake with my malpractice carrier that exposed me to a lawsuit.… Read the rest
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Independent fee for service, often referred to as traditional medical practices, seem to be a dying breed. Go to any online forum and you will see doctors who advocate against starting a traditional fee for service practice. Most primary care doctors focus on DPC (Direct Patient Care). This is a type of practice where doctors charge a yearly fee to be a member of their practice.… Read the rest
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Since I’ve started my clinic a few years ago, there have been some businesses that seem to have come out of nowhere to now be huge players in the health care industry. Funny thing is, once I started to research them they all had one thing in common… Amazon. Amazon has invested in multiple businesses both upstream and downstream of patient encounters.… Read the rest
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The growth of midlevel providers has been explosive compared to physicians. This growth has lead to many young physicians, residents, fellows, and med studies worried about what their future holds. Midlevel providers can provide wonderful access to patient care. I know many amazing midlevel providers who I have worked with in the past. This article is not here to be a bashing echo chamber to hate on midlevels.… Read the rest
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We’ve all been hit hard by coronavirus in many different ways. At my clinics lowest point, business was down 70%. I am not the only practice who has been dealing with a drop in patient volume. In order to survive, offices are turning to increase advertising to get more patients in the door. I’ve advertised in a few areas before.… Read the rest
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COVID-19 has affected us all negative in many ways. For this post I would like to take a step back and talk about the financial implications on my practice. In the post COVID-19 shut down, we have seen a huge drop in patient visits and income. We are not alone. It appears that many practices or groups nationwide are cutting salaries, having layoffs, or cutting back hours.… Read the rest
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This week I hired another doctor to join my practice. Lets just take a step back for a second to think about where I was at to where I’m at now. I went full-time in my solo practice November 2018. To reach a point where I am now, employing two other doctors has been mind-blowing for me. The numbers definitely support the decision to hire another doctor since growth has shown no sign of slowing down.… Read the rest
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Since the blog has gained a decent amount of popularity recently, I’ve been asked many times how to start up a medical practice. In the past, I did make a previous post about why I started up my practice. Well, it is time for a post on how to set up a medical practice. Looking back, I had no idea what I didn’t know.… Read the rest
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