Surgicial Path position-small town private practice

[sbcboy29]

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Hello All,

I'm new to the forums and just happen to find this site while I was wasting time at work (haha). Anyway, my Father is looking at possible candidates to take over in a private pathology practice in western IL. The recuirting fee is way over the top; therefore, I'm assisting him in the hiring process.

An ideal candidate would be someone with a young family looking to settle their kids in an ideal setting. I grew in this town and my father has practiced there for 30 years. He's looking to retire within a year..longer if he does not find an ideal candidate.

This is not a joke..he's seriously considering applicants. If your a serious candidate looking to settle in a small town (population 35,000) then feel free to forward your CV to [email protected]. I will then submit to my father. In addition, for qualified applicants I will provided more detailed information about our town/demographics/financials etc.

Thank you

 

[LADoc00]

Hello All,

I'm new to the forums and just happen to find this site while I was wasting time at work (haha). Anyway, my Father is looking at possible candidates to take over in a private pathology practice in western IL. The recuirting fee is way over the top; therefore, I'm assisting him in the hiring process.

An ideal candidate would be someone with a young family looking to settle their kids in an ideal setting. I grew in this town and my father has practiced there for 30 years. He's looking to retire within a year..longer if he does not find an ideal candidate.

This is not a joke..he's seriously considering applicants. If your a serious candidate looking to settle in a small town (population 35,000) then feel free to forward your CV to [email protected]. I will then submit to my father. In addition, for qualified applicants I will provided more detailed information about our town/demographics/financials etc.

Thank you

interesting, interesting.

He is a one-man show? No partner?

This is a good lead for people with a few years under their belt (pathdawg..)

the way I like to see this type of ad:
Number of Pathologists (solo in this case I think)
Number of surgical specimens
Number of cytology
Number of Certified hospital beds at primary hospital

thats the basics for this type of gig where you have enough to even know if you might be interested.

honestly, it is a hard sell to find someone who will buy your private practice, at least in pathology, unless you own something worthwhile: property, modern histology and IHC equipment, corporate licensure. Simply having a pathology contract with a hospital isnt really a marketable commodity, at least not like it used to be.

The reasoning is: lets say I buy your Dad's practice for 250K on the idea that it generates 400K/year in net income. This isnt a Krispy Kreme franchise, I actually have to work the job and cant employ slave labor to earn capitalist profit like I would if I simply invested the 250 on Wall Street. Then I have to deal with the fact pathology contracts renew every 2-3 years. What if in 3 years, the hospital renegotiates to get a larger group to cover their service needs? My 250K invested is blown, I have nothing to show for it. Then there is issue of politics, I assume your dad is at least reasonably well respected because he had the contract with the hospital for 30 years..but what is to say the guy or gal he sells it to will be treated the same?

I have seen this happen multiple times, it is SAD. Some sap plunks down a massive amount of capital to buy or buy into a practice and watches the other partners vanish with the loot. Then, all alone, they usually sink. The hospital or other predatory pathology groups eat them whole and they are left tapped out.

I try to tell other docs and dentists (esp. dentists, these fools pay CRAZY amounts to buy practices and watch the patients bail left and right) these perils, but rarely do they listen.

If anyone is seriously following up on this though, I can provide you with my wisdom having circumvented this stuff before.

 

[sbcboy29]

LADoc00,

I appreciate the feedback. This type of info will be provided strictly to serious parties. I can quickly provide this; However, I will need to see CV's first of any interested party. There's much more then strictly job related duties...he'll be looking particularly at candidates that want to make a long term commitment to living in a small town..there's no big city feel at all. I'm not going to sugar coat it...Young docs out of residency may not be suitable for the environment.

He's in a two man operation. There's too much business for a solo operation.

 

[sbcboy29]

I attached the quick summary of the position. In the short term there will not be an option to "buy in" to the practice. As an associate pathologist there will be annual salary considerations.

Please fwd to your colleagues/friends on this forum. Again, please fwd CV to [email protected].

 

[LADoc00]

LADoc00,

I appreciate the feedback. This type of info will be provided strictly to serious parties. I can quickly provide this; However, I will need to see CV's first of any interested party. There's much more then strictly job related duties...he'll be looking particularly at candidates that want to make a long term commitment to living in a small town..there's no big city feel at all. I'm not going to sugar coat it...Young docs out of residency may not be suitable for the environment.

He's in a two man operation. There's too much business for a solo operation.

ah, so its a swapper op, meaning your dad is selling his corporate shares but that there is partner who might (??) retain controlling interest. That is a big diff. from what I first read into your ad.

Ive known people right out of training who actually thrive in near solo practices. Ive also known people who relocate to small towns and are estatic about it. Given your geographic loc, property is probably less expensive than most hybrids people drive where I am. You can probably easily buy a house for less than my last trip to Europe cost.

I assume you are screening out IMGs. But I would warn against the other practice nemesis: the "twilight" crowd. People in their 60s looking to retire someplace dirt cheap. Can be real problem working with them because they really dont give a rat's azz about much let alone what you might want them to do.

Keeping the info&details close is a good idea. Personally, IF I was interested and Im def. not, I would simply find out where this is, meet the CEO of the hospital and promise to bring me and my Ivy League buddy out to run to show after the next expiration of the PSA.

 

[LADoc00]

I attached the quick summary of the position. In the short term there will not be an option to "buy in" to the practice. As an associate pathologist there will be annual salary considerations.

Please fwd to your colleagues/friends on this forum. Again, please fwd CV to [email protected].

Dude, that is not a 2-man practice....at least not how I practice. 3500 surgicals+other stuff mentioned would take me around 3 hours each morning **if** I worked M-Thurs, let alone 2 people working 8-5 M-F (honestly hours are WAY too long for that practice size).

My rough guess is a net income of around 600K/yr, maybe much less if the biz isnt utterly optimally set up.

For example, I ran a 250+ bed medical center (trauma, cancer center etc) solo while doing biotech consulting on the side (and in my spare time set up 2 corporations) at one point. 100 bed is not a 2-man op. There arent many groups who will even absorb a 100bed hospital because admin oversight isnt worth it.

Still I would strongly encourage our SDN readers to take a serious look at it.

 

[GreatPumpkin]

You should consider posting the opportunity on path outlines and the CAP website. This site has a few out in practice people, but is much more populated by in residency or pre-residency folks.

I agree with LA. 3500 specimens is a one person job and not a real busy one at that.

 

[pathdawg]

Well, thanks for thinking of me, LA, but I am not cut out for small town America. I am a big city guy, always have been, always will be. I'd probaby starve to death in rural western Illinois. "New Vork is vhere I'd vather stay..."

Based on the OP, I was almost expecting a "We will give you an immediate signing bonus, but first we require a $10,000 bank transfer fee" or some similar email scam. This is kind of a weird place for a decent job opportunity to present itself, but what do I know? If someone here is interested, it probably wouldn't hurt to look into it.

You should definitely post this ad on the CAPand pathologyoutlines.com

 

[Acremonium]

How can anyone feel comfortable signing out 20 marrows a year, or worse yet, 10, assuming you split them with your partner. I would send them out if there are that few.

 

[LADoc00]

How can anyone feel comfortable signing out 20 marrows a year, or worse yet, 10, assuming you split them with your partner. I would send them out if there are that few.

yeah that is an eye catcher for me too, I do 150+ a year, which I pretty much consider the floor for staying competent.