Private practice question

[Attending1985]

I had a closed practice for awhile which was so nice. My practice is open again and I’m missing my closed practice.

I work for a healthcare organization so it’s always a push for access.

For those in private practice once you have your established panel is there always a push for new patients so you can stay full or can you slow down?

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[TexasPhysician]

I had a closed practice for awhile which was so nice. My practice is open again and I’m missing my closed practice.

I work for a healthcare organization so it’s always a push for access.

For those in private practice once you have your established panel is there always a push for new patients so you can stay full or can you slow down?

There is always new patients. Some patients stabilize and transition back to PCP. Some will move away. Some stop meds and don’t return for years. You have to replace patients that you lose.

 

[clausewitz2]

There is always new patients. Some patients stabilize and transition back to PCP. Some will move away. Some stop meds and don’t return for years. You have to replace patients that you lose.

Yes, very much this. More useful to think of periods of a high barrier to entry and periods of a lower barrier to entry. When I came quite full, I will take new patients by referral only or as a favor to a colleague. When I am less full, I am way more open to all corners.

EDIT: I tell people yes or no, my experience with trying a waiting list was not positive.

 

[clozareal]

Yes you always have to take new patients. For me, about 2-4 patients a month on average is probably a good replacement rate.

I would imagine therapy heavy practices may need less new patients and those who do one time consultations need more.

 

[jbomba]

For those who take insurance, how quickly are patients finding you? Meaning if I weren't doing a lot of self marketing or seo, could I reasonably anticipate filling up simply by way of being on various insurance panels?

 

[Sushirolls]

Sigh. I haven't gotten full.

 

[jbomba]

Maybe I should clarify for those working in large metros

 

[Wilf]

For those in an average sized private practice, approximately how much is an average yearly salary (after expenses, before taxes)? An average range? Both for a practice that accepts insurance and a cash only?

 

[MedMan80]

For those who take insurance, how quickly are patients finding you? Meaning if I weren't doing a lot of self marketing or seo, could I reasonably anticipate filling up simply by way of being on various insurance panels?

Virtual only, insurance practice, slow AF. I think the big dogs, talkiatry etc, are taking a good chunk of the clientelle.

 

[calvnandhobbs68]

For those who take insurance, how quickly are patients finding you? Meaning if I weren't doing a lot of self marketing or seo, could I reasonably anticipate filling up simply by way of being on various insurance panels?

I like to think about, how would you find a doctor if you needed one? Would you ask your PCP? Would you google "X near X town"? Would you look at your insurances website and see who was in network near you? Would you be discharged from an IOP and given a list of local practices to schedule with or be on the list that the social worker contacts to set up aftercare? Especially if you have no presence at all in the area initially, you have to make sure you're hitting all the avenues for people to know you even exist. I can really want to buy a BMW and the new BMW dealership that just opened up might really want to sell me one but unless we cross paths, I'll never end up buying that product I wanted.

People make this mistake of thinking that just because they setup a practice and get in network with a couple insurances, patients are going to start flocking to them but unless you're part of big healthcare system, you aren't going to get a lot of automatic referrals your way.

Virtual only, insurance practice, slow AF. I think the big dogs, talkiatry etc, are taking a good chunk of the clientelle.

I could certainly see new all virtual practices being extremely slow to fill. You're competing with literally every other virtual competitor nationwide. Having in person availability to at least some extent keeps your competition more local unless you already have an established presence and referral pattern.

 

[MedMan80]

I like to think about, how would you find a doctor if you needed one? Would you ask your PCP? Would you google "X near X town"? Would you look at your insurances website and see who was in network near you? Would you be discharged from an IOP and given a list of local practices to schedule with or be on the list that the social worker contacts to set up aftercare? Especially if you have no presence at all in the area initially, you have to make sure you're hitting all the avenues for people to know you even exist. I can really want to buy a BMW and the new BMW dealership that just opened up might really want to sell me one but unless we cross paths, I'll never end up buying that product I wanted.

People make this mistake of thinking that just because they setup a practice and get in network with a couple insurances, patients are going to start flocking to them but unless you're part of big healthcare system, you aren't going to get a lot of automatic referrals your way.



I could certainly see new all virtual practices being extremely slow to fill. You're competing with literally every other virtual competitor nationwide. Having in person availability to at least some extent keeps your competition more local unless you already have an established presence and referral pattern.

Agreed, thankfully this is only a side gig or I'd go hungry.