starting a pain practice amidst the uncertainty

[hope2bnmd!]

Hello all,

First, i hope you all are staying safe and healthy during the pandemic. I wanted to get some advice from you all in regards to opening an interventional pain practice in the next 3-6 months. Are times too volatile and unpredictable to open up a practice? With the possibility for a potential recession and unpredictable election year--would you guys wait? Is the future of medicine really in an unpredictable state? My feeling is that there is never a perfect time to open up...however with any business timing is typically everything. Appreciate any of your thoughts and advice. thanks

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[geauxg8rs]

Hello all,

First, i hope you all are staying safe and healthy during the pandemic. I wanted to get some advice from you all in regards to opening an interventional pain practice in the next 3-6 months. Are times too volatile and unpredictable to open up a practice? With the possibility for a potential recession and unpredictable election year--would you guys wait? Is the future of medicine really in an unpredictable state? My feeling is that there is never a perfect time to open up...however with any business timing is typically everything. Appreciate any of your thoughts and advice. thanks

I think it depends on the local area. Some states are better off financially and from a lockdown perspective.
The big question is what has happened with Pain groups in the area? I think my area has weathered things okay.
But the big hospital has been through furloughs, layoffs, etc. i expect more hospital doctor pay cuts as we get toward end of the year.
This might be an opportunity as some doctors might Then retire, move, leave the hospital System and do direct care etc. Then the hospital replaces with new grad pcps or hires arnps. If you are a new specialist in that area, with new pcps, you can disrupt the old stand by referral patterns. You might be able to actually turn this into a positive. You are the new guy in the area who has time to talk to these new hires and explain why they should trust you.

I am ever the optimist and see this time of change as opportunity.

 

[NOSfan]

No one knows what the future holds. Best guess, the economy will continue to flounder whilst C-19 is without a vaccine. Post-vaccine the economy will take a decade to recover. Those, now and new to poverty, will take decades to recover from the generational effects that poverty spawns.

That being said, unfortunately people will still continue to suffer from pain. Your services will be ever needed. If you are set on starting a practice, then continue full steam ahead. Good Luck!

 

[myrandom2003]

Do it. There is never a right time. Just be lean, be prepared, and be flexible with how you do things.

With more people sitting home, there’s going to be more people thinking about their pain.