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 restRead more
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
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
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 restRead more
Let us get back to financial aspect of being a physician. My blog is after all called InvestingDoc.
One of the worse investments you can make is wasting time. Arguably, the second worst investment you can make is putting all your eggs into one basket with no back up plan. It can be difficult as a physician not to put all of your eggs in one basket since many of us work 50+ hour weeks at our main job.… Read the restRead more
Lately I have been a bit negative in my past several posts. Some people have even messaged me to express their concern, asking if I am even happy owning my own practice.
I have used these messages from readers as a bit of a self-reflection moment. My blog has been my attempt to show what it is like to really run a practice that does not make it into a “glamorous” Instagram post pretending that everything is great and there are no downsides.… Read the restRead more
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 restRead more