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1shot1opportunity

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It’s a Saturday night. I’m a first year DO med student thinking about my school and passions. I really don’t care much about science and anatomy. I like people and helping them, but it’s not as fun as making deals. I worked as a cooperate recruiter, in real estate and as a teacher. I even have my real estate brokers license. It’s nice to teach people, but I really enjoyed the rush of making real estate deals or placing candidates for big bucks. What medical specialty is for the business driven like me? I’ve been looking into going into an EM or FM residency and opening up an urgent care center in the Boston area. My family has valuable commercial real estate in the Boston area. I like (no I love) the idea of making big bucks and running your own show. I’m big on taking the bulls by the horns and making your own money. I hate the idea of working at a hospital under chiefs ect.



So, I want to know. What specialties are out there for the business driven? Is it still possible to make a lot of money, make big deals and be in medicine? Does an urgent care model support the dreamer is there any other medical endeavor out there? I don’t want stupid ideas like, “you can be a consultant and still work at a hospital”. I don’t want to be a salary man. I want to run the show when I want and where’s I want. I had this dream in real estate and it worked well before I went to medicine. Also, don’t take offense to what I’m saying. I’m open to all ideas.
 
Pediatric Radiology
 
Forensic psychiatry
 
Pediatric gynecology to the stars!
 
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And this is why most people in medicine are terrible business people... not many are business driven and entrepreneurs
 
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And.. healthcare (management and reimbursement) will change drastically in the next 8 years when you’re even in a position to consider this. Don’t pull the cart before the horse.. go do board questions
 
So you want to start your own private practice or something more? Starting an urgent care is like opening up a chain restaurant nowadays, you'll be like a mid-level manager managing midlevels.

You should probably read about stark laws to find out more about physician entrepreneurship and investing. Such laws make it very difficult for physicians to own and invest in different parts of the healthcare market where they can directly benefit from self referral (i.e., PCPs owning radiology or surgical centers).
 
how Profitable can urgent care centers be? I’m a marketing driven guy. I don’t care about big/intestresting medical case loads. Thank you for the only good comment so far. As I’m thinking about future specialties, I’m taking all these factors into consideration. I like hair transplant practices too
atomheart said:
So you want to start your own private practice or something more? Starting an urgent care is like opening up a chain restaurant nowadays, you'll be like a mid-level manager managing midlevels.

You should probably read about stark laws to find out more about physician entrepreneurship and investing. Such laws make it very difficult for physicians to own and invest in different parts of the healthcare market where they can directly benefit from self referral (i.e., PCPs owning radiology or surgical centers).
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, looks like good cash models.
 
To everyone else, Keep the insults folks. Wait until I’m doubling your salaries, while you guys burn out.
 
Big money is in the drug and device development, big as in billions.
 
1shot1opportunity said:
It’s a Saturday night. I’m a first year DO med student thinking about my school and passions. I really don’t care much about science and anatomy. I like people and helping them, but it’s not as fun as making deals. I worked as a cooperate recruiter, in real estate and as a teacher. I even have my real estate brokers license. It’s nice to teach people, but I really enjoyed the rush of making real estate deals or placing candidates for big bucks. What medical specialty is for the business driven like me? I’ve been looking into going into an EM or FM residency and opening up an urgent care center in the Boston area. My family has valuable commercial real estate in the Boston area. I like (no I love) the idea of making big bucks and running your own show. I’m big on taking the bulls by the horns and making your own money. I hate the idea of working at a hospital under chiefs ect.



So, I want to know. What specialties are out there for the business driven? Is it still possible to make a lot of money, make big deals and be in medicine? Does an urgent care model support the dreamer is there any other medical endeavor out there? I don’t want stupid ideas like, “you can be a consultant and still work at a hospital”. I don’t want to be a salary man. I want to run the show when I want and where’s I want. I had this dream in real estate and it worked well before I went to medicine. Also, don’t take offense to what I’m saying. I’m open to all ideas.
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OMT specialist. Overhead is low, all you need is an OMT table. In the right location you can make as much as any decent dermatologist.
 
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OMG, you went into medicine for good pay and stable job and not for altruistic self sacrifice forever REEEEEEEEEE!!
 
1shot1opportunity said:
how Profitable can urgent care centers be? I’m a marketing driven guy. I don’t care about big/intestresting medical case loads. Thank you for the only good comment so far. As I’m thinking about future specialties, I’m taking all these factors into consideration. I like hair transplant practices too, looks like good cash models.
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Urgent Care boxes pop up and die out frequently. Med spa, on the other hand, is a very profitable cash business for upper-middle class incomes. Like other businesses, it is about finding a niche in a location with a particular clientelle. Typically you would want to specialize in aesthetic medicine training, usually dermatology or plastic surgery. I just looked up a nearby med spa and all the physicians on staff were plastic surgeons.

I chatted up one of my preceptors who practiced under a concierge model in an upper-class area, which is itself becoming a very popular way to "be the boss" while still practicing medicine. Based on that conversation, my understanding is that a few million a year in income is about the pinnacle physicians can reach while still practicing medicine, and many work very hard to reach that 7th figure. They could make much more if not for various laws that prevent investment opportunities within the medical and pharmaceutical sphere. Avoiding middle-men (insurance companies) while still playing fair by lawyers and gov standards is very tough. His recommendation was that if I wanted to be an entrepreneur then I should quit medicine and become an entrepreneur, OR be an entrepreneur as a hobby in a different and much less regulated industry while still practicing medicine.
 
atomheart said:
Urgent Care boxes pop up and die out frequently. Med spa, on the other hand, is a very profitable cash business for upper-middle class incomes. Like other businesses, it is about finding a niche in a location with a particular clientelle. Typically you would want to specialize in aesthetic medicine training, usually dermatology or plastic surgery. I just looked up a nearby med spa and all the physicians on staff were plastic surgeons.

I chatted up one of my preceptors who practiced under a concierge model in an upper-class area, which is itself becoming a very popular way to "be the boss" while still practicing medicine. Based on that conversation, my understanding is that a few million a year in income is about the pinnacle physicians can reach while still practicing medicine, and many work very hard to reach that 7th figure. They could make much more if not for various laws that prevent investment opportunities within the medical and pharmaceutical sphere. Avoiding middle-men (insurance companies) while still playing fair by lawyers and gov standards is very tough. His recommendation was that if I wanted to be an entrepreneur then I should quit medicine and become an entrepreneur, OR be an entrepreneur as a hobby in a different and much less regulated industry while still practicing medicine.
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True, we have been regulated out of our own arena. Its funny that doctors are portrayed as 'greedy' when our portion of healthcare costs have decreased quite a bit over the last 30 years. Insurance/hospitals just trying to limit the competition. The only way you can own anything anymore is to not do it in healthcare. Stop practicing medicine, become the CEO and its all good.
 
BorntobeDO? said:
True, we have been regulated out of our own arena. Its funny that doctors are portrayed as 'greedy' when our portion of healthcare costs have decreased quite a bit over the last 30 years. Insurance/hospitals just trying to limit the competition. The only way you can own anything anymore is to not do it in healthcare. Stop practicing medicine, become the CEO and its all good.
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It is a balance. Medicine is not a free market, and that is in part what protects the jobs and the patients (in theory).

I frequently run into midlevels who believe medicine is a free market and that they 'deserve' to make as much as a physician. There would be serious consequences if physicians made no money for what they put in to their career, but by comparison to other fields they certainly don't make a lot of money.
 
I’m actually pretty surprised by the lack of education on the business of medicine in medical school (and from what I hear residency isn’t much different). We waist hours doing interdisciplinary group activities with the PA and nursing students, but when it comes to actually making a living as a physician? Absolutely no time for that nonsense.
 
1shot1opportunity said:
To everyone else, Keep the insults folks. Wait until I’m doubling your salaries, while you guys burn out.
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LOL

Yah.

And your license taken away while your butt rots in prison for medicare fraud or practicing in some rural town in some back alley in Mississippi or something that doesn't require any actual licensing. Real definition of shady.

Your greed will only take you so far dude.

Chillax.

If you were smart, you'd get out now and expand your family's retail business/property whatever you claim to have.

You got a LONG way to go baby boy.
 
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