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Leaving clinical medicine to run my own business/Please advice

Discussion in 'Med Business [ MD/MBA, DO/MBA, DDS/MBA ]' started by Juicyfruit12, Feb 25, 2017.

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  1. Juicyfruit12

    Juicyfruit12 5+ Year Member

    6
    0
    Jun 24, 2010
    I have built a private practice from the ground up, but I have to come to realize that I don't enjoy doing clinical medicine. I would consider myself pretty competent as a clinician, and I do get a lot of good outcomes in the patients I treat. My issue is that at times the whole thing seems overwhelming in many instances, and I get tired of having to deal with the high expectations I put myself which leads to constant burn out.

    I have a cousin whose got an MBA, and he seems a lot more happy with his own business. I wouldn't go for another degree. I would just go to some conferences, network and get the necessary background to open and operate a business. I am considering business, because I don't seem to be the kind of guy who would be a good fit as an employee.
     
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  3. FamilymedMD

    FamilymedMD 7+ Year Member

    48
    25
    Nov 25, 2009
    Rockport, ME
    Physician
    What specialty? Why not start some sort of business that relates to something you know really well, medicine?
    I'm biased being in direct primary care (DPC) but I keep meeting innovators working with employers and patients who are getting screwed by the current system and helping them find more affordable care outside the insurance mess. The differences between what many of them are paying and what they could pay in other models is so great that you save them a lot and still do very well for yourself.

    I find all the new business challenges associated with starting a DPC exciting but overwhelming at times.
     
    PistolPete likes this.
  4. Juicyfruit12

    Juicyfruit12 5+ Year Member

    6
    0
    Jun 24, 2010
    I am a physical medicine and rehab specialist. I also have my board certification. Of course, none of this will matter once I leave clinical medicine.
     
  5. PistolPete

    PistolPete 10+ Year Member

    1,861
    369
    Jul 16, 2006
    Physician
    I'm all for third-party free and that's what I'll do once I start my own practice. OP, have you thought about that? Or just cutting back on hours?
     
  6. Doublj01

    Doublj01 7+ Year Member

    41
    1
    Nov 22, 2008
    Physician
    I was wondering some similar in running a DPC system on the 7 off days as a hospitalist. the contract I am looking at allows for an office where I can practice within primary care, IM, and FM.

    anyone experimented with this? seeing patients on your 7 off days? or perhaps getting another provider involved to follow patients?
     
    FamilymedMD likes this.
  7. FamilymedMD

    FamilymedMD 7+ Year Member

    48
    25
    Nov 25, 2009
    Rockport, ME
    Physician
    Access to your own physician is one of the big draws to DPC. You might get people to pay for access to a pair of docs but the rigid nature of hospitalist schedules might conflict at some point unless you have a few other options. You'd probably need to job share with another hospitalist with some provision for back up coverage when your hospital(s) change your schedules or one of you goes on vacation.

    Eventually, if DPC continues to grow, small DPC groups will likely add other services valued by patient members such as their own hospitalist service. That would be one advantage to your plan, you know the local hospital systems very well and, assuming the social workers and ER nurses like you, you'd get a ton of referrals to your practice from hospital staff.

    One other downside is the patients that would know you best are among the sickest. Plan and price accordingly.

    I was a nocturnist during my initial DPC start up.
     
  8. TexasPhysician

    TexasPhysician SDN Moderator 7+ Year Member

    4,027
    816
    Sep 1, 2008
    Physician
    You built a private practice which is a business. You can translate those skills to another field.

    Consider starting another business part-time while practicing and transition out with success.
     

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