We all had to sign an employment contract before starting work. My first physician employee, I had a very brief two page agreement between us. Luckily, this first employee turned out to be amazing and it did not end up coming back to haunt me so far. I’ve unfortunately had the exact opposite experience with my second physician employee.
For my second physician employment contract I hired a lawyer.… Read the rest
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My practice has grown to the size where I just don’t have enough hours in the day to do everything that needs to get done. I have put off hiring a practice manager as long as possible, but I have finally reached the point where I threw in the towel. I don’t want a practice manager, I need a practice manager.… Read the rest
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Let us have a post that looks closer at the “cost of doing business.” Also called financial losses for medical practices.
You may have heard this term before, but it is essentially the financial hit that one takes while running a business.
Every company has these costs. Think of the last time you were at a restaurant, and they messed up your order.… Read the rest
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Like many physicians, I started to feel burnout this past 6 months. Patients more than ever have been demanding various different things from me. Each demand seemed to chip away at my happiness in the profession. This ranges from getting yelled at demanding to change our mask policy to patients messaging me arguing why do they have to pay for a visit when they can see their lab results on Quest.… Read the rest
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Rather than starting your own practice, it is much more common to take a job where there is a potential buy into the practice. Today’s post is going to go through everything you need to know when you are thinking about buying into a medical practice.
Be warned. Today’s post is going to be a long one but a fun one!… Read the rest
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Business is tough and the business of medicine is no exception to that rule. As my practice grows, I have come to realize one truth…staying a small traditional medical practice is not sustainable. No, this post is not me announcing that I am selling out. Instead, it is a realization that growth needs to accelerate. The larger my practice gets I get to realize this one truth: You will either need to grow your traditional insurance based practice or shift to a different model if you want your business to stay alive.… Read the rest
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Solo practice is tough. Hell, its very very tough sometimes. One of the hard lessons you may learn after starting a practice is that your commercial insurance rates are most likely not going to be great. This is especially true for those who are not a specialist. Eventually you will have to negotiate a rate increase from your commercial payers to keep the business profitable.… Read the rest
Read moreJon Appino is the owner of Contract Diagnostics, he started this company over a decade ago as he felt a better way was needed to do physician contract reviews. He and I talked after he came across my website geared towards medical professionals, as we seek to serve and provide value to the same types of people. Jon and I had a great conversation about employment contracts.… Read the rest
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This week was a big week. My second clinic location opened! It has been a long road to get to this point. I started to have these discussions to open a second clinic almost a year prior to its opening. Our tentative opening date was January 2, 2021 but things of course got delayed and we opened end of May 2021.… Read the rest
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For those of you who are thinking of starting up a medical practice, I would like to help you by creating a checklist of everything you need to know to start your own medical practice.
Of course, a full list of everything you need to know about starting a medical practice is way too extensive to go through with one post.… Read the rest