Without a doubt, I feel that business ownership has some inherent benefits over being employed. I have praised and discussed at length the value of autonomy and work-life balance, but I think the finances also heavily favor business ownership. There are very unique tax advantages that being a small business ownership enables. While the security […]
Does the idea about opening a solo medical practice scare you? Do you feel as if there is too much to do? What about the timeline? Well this post is for you. Today we are going to go over the timeline from start to finish at how to get your practice up and running. We
The Timeline: How to Start a Medical Private Practice in 9 months Read More »
Perspective: Finding What Matters Perspective is everything. In residency, we privileged to take care of sick patients. And our patients teach us important lessons. I will never forget my rotations in the ICU and on the hospital floor as a trainee. From my journey as a medical student, to intern, and resident, I view my
3 Lessons from the Dying: Perspective and What Matters Read More »
Understanding the Differences Between LLCs, S-Corps, and C-Corps If you are like me, odds are you have received amazing clinical and surgical training. However, you probably have received less than 1 hour of teaching on the business of medicine. I am assuming most of you have no idea what an LLC, S-Corp, and C-corp are. In
I love HGTV, and I love browsing on Zillow. So when it came time to find a location for my office, finding a rental location was very fun. I had a real estate agent, but I also found that I had spent a good bit of time on LoopNet to find my ideal location and
4 Key Tips For a Great Office Space and Lease Read More »
The location analysis is one of the most important things you need to do correctly. If you open your office in a poor location, it’s gonna take your practice a lot longer to get busy. We previously talked about the overhead, and the pro-forma, and we reviewed about how rent is part of the pro-forma.
How to Do an Effective Location Analysis with these 3 Considerations Read More »
Today, let’s dive into the numbers and talk about a pro forma and business plan. Why? One of the most important things you need to do before opening your own private practice is to crunch the numbers yourself. In our previous post, we talked about why you should consider going solo and how a solo
3 Tips for The Business Plans and Pro-Formas Read More »
How Am I Going to Pay All of the Bills? Keeping the overhead low is what separates a lean medical practice start up from the bloated corporate owned practices. This is your secret to answering the key question: “how is starting a medical private practice even financially feasible?” Before even seeing my first patient, I
2 Key Tips To Keep the Overhead low: What is The Secret To Breaking Even? Read More »
Burnout: A Sad Statistics for All Ophthalmologists Over 50-80% of ophthalmologist will quit their first job within 3 years. Seriously. Think about it. I have met so many doctors who HATE their job. Burnout plays a big role. From medical school, residency, fellowship – you always hear about “it’s gonna get better on the other
Burnout: Why I Quit my 6 Figure Job Read More »