We currently have two locations for our practice. Soon, we will be expanding our real estate portfolio for our medical practice to three locations. Finding commercial real estate can be more difficult than you think. There are a lot of nuances to commercial real estate. Should you buy or rent? This post will go over how we are going about finding a new location, how I found my past locations, and what you need to know.… Read the restRead more
There is a lot of growth and change required from when a doctor is in training to being an attending. Often there is a lot of stress that goes along with this change. The feeling of being out on your own, no safety net of your program anymore is a weird feeling when you first make that transition.
I wanted to look back at the things that I wish I would have known upon graduating residency about the practice of medicine or my life post-graduation.… Read the restRead more
The grass is always greener. Living in a more tech driven city, I can’t help but sit back and think about the opportunity cost of becoming a physician. Seeing a young tech patient who is making way more money that I am also occasionally has me questioning if medicine is “worth it.”
I constantly hear in my clinic about the young twenty something who is making well into 6 figures.… Read the restRead more
If you are not automating some part of your day, then you are way behind most other people or practices. Even if you do not own your own practice, you need to be automating as much of your day as possible. Obviously not everything can be automated, but there might be more than you think.
Any routine task that you delegate to anyone else that just needs a functioning brain, should be automated.… Read the restRead more
Maybe you are already a practice owner. Or maybe you are thinking of owning your own practice. Maybe you are just curious what the 2-year penalty is all about. For those of you thinking of owning your own business, congratulations! It is absolutely worth it, if you like the business side of medicine. However, there is a huge downside beyond the work that it takes to run a business.… Read the restRead more
Hindsight is always 20/20. I remember graduating from residency, starting this blog, and really trying to minimize investments that I got wrong. While I was not perfect, I would like to highlight mistakes that most doctors make. Some of these mistakes listed below are from personal experience.
Many of the reasons might not be as obvious as you think. Yes, we all know it is not a good idea to go out and buy a new speedboat right away.… Read the restRead more
I recently found out someone tried to fraudulently cash a check from my business account. I got a call from Wells Fargo, my bank, alerting me that someone in a city 4 hours away was attempting to cash a $8,955 check with my business account number on it. The check was written out to an individual, not a business. Wells Fargo immediately tagged it as fraud.… Read the restRead more
Although it is a bit premature to say that we are victorious against COVID-19, the mood is definitely improving where I practice. Patients are becoming happier and less stressed. There are less people yelling at us about masks. The “bad behavior” that we were previously seeing is starting to decrease significantly.
As the dust settles on the past 2 years of chaos, I would like to take a moment to sit back and reflect on the financial effects and the emotional toll that the pandemic has had on doctors.… Read the restRead more
Part of the downside of the medical profession is that many doctors share the same trait, a desire for perfection. However, this trait can have some serious negative consequences. Especially when a doctor is involved in a startup side gig or new practice. There is a book that I really enjoyed called the “The lean startup” by Eric Ries.… Read the restRead more
Inflation numbers are in, and they were worse than we all thought. Inflation based on consumer price index was 7.5% for the past 12 months as of January 2022. If you follow the consumer price index, CPI, then you can see that inflation has been on a tear lately.
This has potential to be huge implications for practicing physicians. Spoiler alert, things do not look good.… Read the restRead more