Relevancy of PM News

[air bud]

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120 patients a week that qualify for nail care? That is a ton more than I’ve ever witnessed at any office.

Grind harder bro. Figuratively And literally

 

[Adam Smasher]

120 patients a week that qualify for nail care? That is a ton more than I’ve ever witnessed at any office.

I accept all insurances, and medicaid/medicare advantage both cover 6 visits/year for anyone for any reason. A lobster's feast.

 

[Homo sapien]

I accept all insurances, and medicaid/medicare advantage both cover 6 visits/year for anyone for any reason. A lobster's feast.

They do? Holy cow lol

 

[DYK343]

Yes, no pod is going to be doing a lot more triple arthrodesis Achilles tendon rupture visits if they didn't do nail care.
Maybe on planets like podiatry marketing or hospital DPM supersurgon - but not in normal PP office.
It pays the bills, fills the schedule, gives people what they came for... that's what I want.

IME there is some merrit to not booking every slot of every day with nails.

My last job every DPM was booked out 3 months or longer with nails.

I got a ton of patients with acute issues because they couldnt get in anywhere else timely.

Helped that ortho didnt touch the foot where I was previously located.

Unfortunately where I am now I dont get the same referral patterns. I cut nails because if I didnt I wouldnt be full.

But in the right situation it is viable.

 

[Bluecollarmed]

I don't currently see any patients for RFC because the hospital owns a clinic in the area that does it and there's plenty of nonsurgical pods in the area covering that service. It helps keep a 15 minute slot or two open for same day referrals and quick trips down to the ED as needed for consults. Our ortho doc and his 3 PAs are also too busy to even think about a foot so everything comes to me. I think the conversation is different for hospital employed vs PP when it comes to this, same as wound/limb salvage. The hospital wants me in the OR two days per week. They don't make money on me seeing nails and booking out my schedule when they own the nurse doing it for $35 per visit at the other clinic.

 

[air bud]

 

[Adam Smasher]

Obviously we need more fellowship training

 

[Homo sapien]

View attachment 402736

Almost half of the respondents do mostly nails. Podiatry is so sad

 

[heybrother]

Almost half of the respondents do mostly nails. Podiatry is so sad

Ahhh, you forget. These are also the most satisfied podiatrists on earth.

 

[Bluecollarmed]

These need follow up questions like how much routine nail care do you want to perform, how many years in practice etc. Would be more interesting if you derive interest from these sorts of things I suppose.

 

[Adam Smasher]

A few years ago PM News did a poll on years of residency training, and only a minority of respondents had 3 years. Meaning most graduated podiatry school prior to 2006 and very likely much earlier! So assuming the sample population from that poll is similar to this one, the outcome is not surprising.

Hence the purpose of this thread, once again showcasing how out of touch the older generation of pods is with the marketplace for podiatry services today.

 

[air bud]

A few years ago PM News did a poll on years of residency training, and only a minority of respondents had 3 years. Meaning most graduated podiatry school prior to 2006 and very likely much earlier! So assuming the sample population from that poll is similar to this one, the outcome is not surprising.

Hence the purpose of this thread, once again showcasing how out of touch the older generation of pods is with the marketplace for podiatry services today.

Yes, clearly PM news is not compromised of "the most dynamic" members of our profession....but this is just good Internet material. It's about the memes bros.

 

[Adam Smasher]

For what it's worth, I'm in that meaty 26-50% bracket 🦞👑

 

[icebreaker32]

Yes, clearly PM news is not compromised of "the most dynamic" members of our profession....but this is just good Internet material. It's about the memes bros.

I disagree. One of the regulars on there only uses Carbon Rib-Back 15 blades.

 

[Feli]

I disagree. One of the regulars on there only uses Carbon Rib-Back 15 blades.

 

[GreenHousePub]

Low student enrollment will result in financial problems for the schools, make it harder for podiatry practices to hire associates and for retiring podiatrists to sell their practices,

From the latest Podiatry Management issue. I'm not sure why this is an issue?

 

[Adam Smasher]

From the latest Podiatry Management issue. I'm not sure why this is an issue?

Obviously you're being sarcastic, but for a lot of dpms aged 55+, their practice is their retirement plan. You own it, and sell it to the next dpm after its grown in value. Alternatively, hire the associate in what's basically a lease-to-own arrangement, but still the same pattern of owning then selling. I'm not as knowledgeable as some others here in the ways of finance and investing, but I believe this type of asset is referred to as a "ponzi scheme"

 

[Dermato Fight Club]

What do you guys think about this? Is this gross collections? It says gross income but I'm assuming that means gross collections. In other words what the practice revenue is and not the podiatrists' gross income (what he paid himself). I realize it is PM news but 37% with gross collections under 200k is pathetic. I'm assuming it is gross collections because there is another survey for net income. I'm not sure why you would need a net income survey if you already have gross income. Of course, maybe all the respondent's were confused too so the data is useless.

 

[Feli]

View attachment 405643

What do you guys think about this? Is this gross collections? It says gross income but I'm assuming that means gross collections. In other words what the practice revenue is and not the podiatrists' gross income (what he paid himself). I realize it is PM news but 37% with gross collections under 200k is pathetic. I'm assuming it is gross collections because there is another survey for net income. I'm not sure why you would need a net income survey if you already have gross income. Of course, maybe all the respondent's were confused too so the data is useless.

Some are part time (nursing homes and such), but nowhere near that many. It's very hard to find decent part time employees - even harder than FTEs.

I'd assume closer to $400-500k gross collections is normal for DPMs solo (includes part timers and startups), but those PM ones are just simple "self reported," so who knows. $268k is impossibly low. Solo overhead is usually same lower (even though group should be more efficient... just harder to control expenses), but their figures are impossibly low.

For PM news... they're saying 131k net is median for solo ... which is nothing after student loan pays these days ($5k per month aka $60k or more of post-tax per year to make a dent). It wouldn't be worth doing it. But then again, a lot of PM news are TFPs from NY with no student loans...

and fyi, PM News redirects here.

 

[Hybrocure]

Some are part time (nursing homes and such), but nowhere near that many. It's very hard to find decent part time employees - even harder than FTEs.

I'd assume closer to $400-500k gross collections is normal for DPMs solo (includes part timers and startups), but those PM ones are just simple "self reported," so who knows. $268k is impossibly low. Solo overhead is usually same lower (even though group should be more efficient... just harder to control expenses), but their figures are impossibly low.

For PM news... they're saying 131k net is median for solo ... which is nothing after student loan pays these days ($5k per month aka $60k or more of post-tax per year to make a dent). It wouldn't be worth doing it. But then again, a lot of PM news are TFPs from NY with no student loans...

View attachment 405644

and fyi, PM News redirects here.

PM News Nigeria - Lagos

 

[Dermato Fight Club]

Ok so yeah. It looks like it is gross collections and typical overhead around 50%. 37% making under 200k is pathetic. Time to retire. And yes you should be more efficient with overhead in a way but also if you have increased revenue that cuts down on % of overhead because you will always have fixed costs.

I realize most of these practices are likely part time and ran by like people in their 60's, 70's, but aren't these the practices/patients the ones we expect new graduating residents to purchase/take care over. It's going to be hard to pay off any significant loan on 131k. And these are the greedy practice owners that typically get 💩on.

 

[heybrother]

I can't find an actual link on a Novitas page for this. Interesting though - they already had a page related a host of other procedures that currently require PAs (below) - perhaps it will be updated with these additional procedures.

Prior authorization (PA) program for certain hospital outpatient department (OPD) services - general documentation

www.novitas-solutions.com

 

[Boba Foot]

Low student enrollment will result in financial problems for the schools, make it harder for podiatry practices to hire associates and for retiring podiatrists to sell their practices

From the latest Podiatry Management issue. I'm not sure why this is an issue?

 

[Hybrocure]

I see nothing wrong with this.

 

[Boba Foot]

I see nothing wrong with this.

One less thing boomers can pull the ladder up behind themselves on after low barriers to entry and low cost of entrance? Oh no, QQ. Enjoy your Social Security and Medicare I'll never see and your Hilton-esque retirement community that private equity designed to drain you of all your assets so your children will never see a dime.