With inflation reaching record levels, many medical practices are going through the rate negotiation process with insurance companies trying to get better pay. If you have never done this before, that’s okay. I was new to it also until a few years ago. Let me tell you the theme of dealing with commercial insurance companies for rate negotiations. Intentionally difficult and broken.… Read the rest
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Electronic medical records, or EMR for short, is a big decision for your company to decide which one will be used. This should be one of the most important things you “stress” over when you start up your practice. We decided to change from Practice Fusion to AdvancedMD. This decision was one that we have been mulling over for about a year.… Read the rest
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Sometimes it is best to learn from others mistakes. Well, today let’s see if you can learn from some of my mistakes in my private practice. This blog is a raw account of what it takes to run a practice. Today I will open up about the biggest mistakes I have made so far while managing my practice. For those hoping to get some accounts on medical mistakes, you will be disappointed by this post.… Read the rest
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Amazon recently announced in July 2022 that they intend to buy One Medical. This deal is most likely going to close by the end of 2022. I would like to break down the finances of One Medical based on their last financial release on their website. This is to give you an idea of what kind of numbers a primary care clinic might be making who scale exceptionally large.… Read the rest
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I am a big fan of what many banks refer to as the “doctor loan” or a “physician loan” that is available from banks as a loan on your primary residence. A doctor loan allows physicians to buy a house with less than 20% down and does not take student debt into account. This is ideal for many new physicians since most physicians graduate with a substantial amount of student dent.… Read the rest
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Those of you who may have been following my blog for a long time, you may recall that about a year and a half ago I started up a second location. The second location has offered quite a few benefits. However, the time has come to look at my business relationship with a nurse practitioner and terminate that agreement. We both agreed that things were not going as planned with our work relationship.… Read the rest
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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 rest
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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 rest
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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 rest
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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 rest
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