Practicing physician Archives - Page 2 of 5

Midlevel Encroachment And Its Effect On The Next Generation Of Doctors

May 26, 2020May 25, 2020 admin 3 Comments midlevel, private practice

The growth of midlevel providers has been explosive compared to physicians. This growth has lead to many young physicians, residents, fellows, and med studies worried about what their future holds. Midlevel providers can provide wonderful access to patient care. I know many amazing midlevel providers who I have worked with in the past. This article is not here to be a bashing echo chamber to hate on midlevels.… Read the rest

Practicing physician

My Experience Using ZocDoc To Help Grow My Practice

May 13, 2020May 12, 2020 admin 2 Comments Advertising, SEO

We’ve all been hit hard by coronavirus in many different ways. At my clinics lowest point, business was down 70%. I am not the only practice who has been dealing with a drop in patient volume. In order to survive, offices are turning to increase advertising to get more patients in the door. I’ve advertised in a few areas before.… Read the rest

Practicing physician

COVID-19 Effects And The Financial Changes To My Practice

May 4, 2020May 4, 2020 admin 9 Comments COVID-19, private practice

COVID-19 has affected us all negative in many ways. For this post I would like to take a step back and talk about the financial implications on my practice. In the post COVID-19 shut down, we have seen a huge drop in patient visits and income. We are not alone. It appears that many practices or groups nationwide are cutting salaries, having layoffs, or cutting back hours.… Read the rest

Practicing physician

I Hired Yet Another Doctor To Join The Practice

March 9, 2020March 8, 2020 admin 8 Comments

This week I hired another doctor to join my practice. Lets just take a step back for a second to think about where I was at to where I’m at now. I went full-time in my solo practice November 2018. To reach a point where I am now, employing two other doctors has been mind-blowing for me. The numbers definitely support the decision to hire another doctor since growth has shown no sign of slowing down.… Read the rest

Practicing physician

How to Set Up Your Own Medical Practice

January 27, 2020January 26, 2020 admin 5 Comments

Since the blog has gained a decent amount of popularity recently, I’ve been asked many times how to start up a medical practice. In the past, I did make a previous post about why I started up my practice. Well, it is time for a post on how to set up a medical practice. Looking back, I had no idea what I didn’t know.… Read the rest

personal finance Practicing physician

Why Doctors Stay Employees Rather Than Owners

December 30, 2019December 29, 2019 admin 7 Comments private practice

In 1980, almost 80% of physicians owned their practice or were partners in their practice and effectively co-owners. In 2016, that number dropped to almost 45%. Each year, it seems that another 3-5% of doctors choose to become employees rather than owners in their practice. The trend away from physician ownership in practices is quite disturbing. Without ownership, we are at the mercy of administrators or other physicians telling us how we are going to practice medicine (to a certain degree).… Read the rest

Practicing physician

Financial Breakdown Of A Primary Care Clinic: How Much Money Does It Make

December 2, 2019December 1, 2019 admin 13 Comments business

Today we are going to take a look at the financial breakdown of a primary care clinic that has recently opened. The numbers in this post are not my clinics financial numbers exactly. I don’t want to “dox” myself and I want to give anyone interested an idea of what is generally possible if you work hard. I’ve used the national average income for primary care physicians for gross revenue.… Read the rest

personal finance Practicing physician

Reaching $100k in gross revenue per month one year after opening

November 4, 2019November 4, 2019 admin 14 Comments

November will mark one year since I went full time in my primary care practice. It has been a hell of a journey. From all the initial headaches, to now things starting to smooth out. The biggest headache was that Aetna took 9 months to credential me. Not only did they take forever to get me in network, they lied to me and told me I was in network (They even had me listed as in network on their website before taking it down).… Read the rest

Practicing physician

Get Back To Owning Your Career In Medicine

October 21, 2019October 20, 2019 admin 0 Comments physician ownership

I’ve been out of training now for several years and in that time I’ve seen quite a bit of change in medicine already. Independent doctors are becoming the minority. A career in medicine for physicians is shifting from business owner to being employed by an investment group with a primary means to make money for its investors. This seems to be occurring throughout almost every specialty of practice.… Read the rest

Practicing physician

Why One Provider Primary Care Practices Are Dying

July 8, 2019July 7, 2019 admin 2 Comments medical practice, solo medical

Primary care is not dying. Solo primary care is dying. Doctors who remain solo will continue to have a hard time at a viable practice going forward. This may be a bit striking, especially for me to say since I went into solo practice. I started my practice initially as part time June 2018, then transitioned to full time October 2018.… Read the rest