The Most Expensive Real Estate Bankruptcy by a Doctor

The rise in real estate prices from 2013 to 2022 has been historic. However, for some cities that have been spared the big drop in 2008 values, the rise in home values has been dramatic. For example, the house we just sold more than doubled its selling price in the four years since we bought it. This got me thinking, what might be coming for doctors who are highly leveraged in real estate?… Read the rest

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Truist And My Doctor Loan Nightmare

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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Terminating An Employee Contract For More Focused Growth

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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What You Need To Know About Commercial Real Estate For Your Medical Practice

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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Things I Wish I Would Have Known Graduating Residency

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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Is Medicine Worth It Financially Compared To Tech

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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Automate Your Medical Practice

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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Pandemic And its Effect Mentally & Financially on Doctors

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 rest

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Where Have All The Easy Level 3 Visits Gone

Since January 2021, billing rules have changed for CMS (Medicare) and most insurance companies. Billing is now primarily based on time or medical decision making for outpatient clinic visits. Historically there have been 5 levels of care, with level 5 being the most complex visit. Up until 2021, almost all of the codes used for outpatient medicine were level 3 through level 5.… Read the rest

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