Start, buy or join a practice

[txlioness]

Although I am a 2nd year resident, I am kicking these options around in my head. I know there are tons of pros and cons with each option.

For those who joined a practice, I know to negotiate your contract and definitely have it reviewed by a lawyer before signing.
Q: Has your offer included a "non-compete" clause in the contract? If so, did you pass on the offer or how did you handle this request?
Q: What is the typical salary offer that is acceptable? I have heard it should be six-figure salary plus incentives, benefits

For those who started or bought a practice:
Q: Where did you start for financing, any views on lending companies that are podiatry friendly for funding?
Q: Startups: Ideal start up funding amount to cover costs?
Q: Buyers....did you lose any patients due to acquiring the practice?
Q: Buyers: what should you look out for when buying a practice?
Q: What are the typical costs to take into account when looking to start a practice?

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[podiatrysurgery]

In Nyc is impossible to start your own thing, insurance panels are full, you can start you own thing only seeing Medicare and Medicaid, no hmo.
Then if you join a group in couple of places the non compete will be overlapping and basically you just have to get out of town. Salary, don't accept the base salary w % bonus that's a trap. If the secretary don't schedule u patients you don't get pay and remember the secretary respond to the Guy. Also % very w insurances, if they billed on time, if the secretary sent the proper auths, so the amount you getting is subjective. If no other option take RVUs. The best is to get pay by the hour, and while u sign that contract ask about when you getting a raise if you doing things right.
Buying a practice, the price of the practice do it base on the net not the gross. Some of those dinosaur try to get you that way. When u buy a practice you lose 20-30%, have the old guy around for couple of month.

 

[podiatrysurgery]

The big question is if you want to be a founder or a follower ( of a tfp, hospital or multi specialist group) this last option is better if you are the only podiatrist there. Been a follower mean you work for butt off to make someone else ton of money, but you don't have to invest.
When working for someone please don't be stupid to do marketing for them. The day that you get fire or leave that practice all that effort end up on your boss hands and you add their non competes you will end up feeling very stupid
This is the ideal boss, if you planning to be a follower, the guy push all his case to you so you can get certified quickly. The majority of the bosses won't do this they prefer you in the office making then money. Every time you are in the OR is less time you in the office. You remember those weeks on residency you were doing 7-15 cases. You'll miss those days. That's why fellowships are getting so popular