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  #1  
Old 08-28-2008, 10:51 AM
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SUBBYRU89 SUBBYRU89 is offline
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Are there any Physicians in the house?

Do you own your own practice? If so, or you have knowledge of how to I need to ask a question or a few for a project I have due. You will not be doing any work for me..just guiding me in the right direction to do the best I can.

Any information from consultants would be awesome too.

Thanks in advance
Melis
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  #2  
Old 08-28-2008, 12:46 PM
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Re: Are there any Physicians in the house?

"I'm not a doctor but I play one on TV."
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  #3  
Old 09-03-2008, 12:35 PM
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Re: Are there any Physicians in the house?

No doctors here, but i've spent enough time in the hospital that i can probably fake it

Seriously though, if it's not to personal stuff, i'm sure we could get you going in the right direction.
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Old 09-03-2008, 12:42 PM
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Re: Are there any Physicians in the house?



I'M A DOCTOR!!









...no not really.
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Old 09-03-2008, 01:15 PM
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Re: Are there any Physicians in the house?

No, I am not a Doctor...

But I did stay in a Holiday Inn Express last night...
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  #6  
Old 09-03-2008, 01:34 PM
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Re: Are there any Physicians in the house?

I have a project due in 4 weeks. I have to hypothetically be a financial consultant for a doctor who wants to go out on his/her own. Doc makes 500K a year where he is with 4/5 other physicians, but wants to fulfill his/her long-life goal of owning his/her own practice.

He/She has impeccable credit and has collateral of 250K. I need to compile a supply list (check), I need to locate a place of business to rent with ample parking space(check), I need to apply for loans for pretend doctor (Hocrest's sister works in a bank so that will be taken care of) I was hoping to avoid running 20 minutes up to my physician and might have luck here. My supply list is 2 pgs and I believe I can cut costs by eliminating some things, but I don't know what a family practice has as assets besides needles, tubes, and the small stuff a patients sees when they snoop through the draws

In short, I have to gather immense information, compile it into a 3 yr proforma, create charts and graphs and advise if it's worth getting on his/her own or should he/she stay where they are.
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Old 09-03-2008, 06:23 PM
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Re: Are there any Physicians in the house?

I had a primary care Dr at an HMO group. He couldn't stand the 5-10 minute hurry up with the patient so he went on his own. The niche he chose here in the Palm Springs area (many resorts) was to make house calls at hotels, I think he started at $250 per call, cash or check/credit card, no insurance. That was 2 years ago, he is doing well.

I would guess from many family practice visits that vaccines and other injections would be a major inventory investment. Billing & collection is a huge cost factor. My wife worked in health care claims for 40 years, biggest issue for Dr after mal practice is bill collection. Primary care/family practice uses lab & image services to avoid in house equipment and techs. If the patient base is mostly HMO insured, the game is move em quickly.
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Old 09-03-2008, 07:39 PM
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Re: Are there any Physicians in the house?

Quote:
Originally Posted by dromano View Post
...I would guess from many family practice visits that vaccines and other injections would be a major inventory investment. Billing & collection is a huge cost factor. My wife worked in health care claims for 40 years, biggest issue for Dr after mal practice is bill collection. Primary care/family practice uses lab & image services to avoid in house equipment and techs. If the patient base is mostly HMO insured, the game is move em quickly.
Great..I didn't even think of the difference between in house and outsourcing costs for the billing dept.
On my list is all the imaging and lab testing stuff, but some doctors have a lab room in the office and others out source..I'll have to see what's more cost effective.

I know he/she can either rent (which for this area I have found 2 rental offices between 6-800 a month, not including utilities).
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  #9  
Old 09-03-2008, 08:18 PM
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Re: Are there any Physicians in the house?

Quote:
Originally Posted by SUBBYRU89 View Post
Great..I didn't even think of the difference between in house and outsourcing costs for the billing dept.
On my list is all the imaging and lab testing stuff, but some doctors have a lab room in the office and others out source..I'll have to see what's more cost effective.

I know he/she can either rent (which for this area I have found 2 rental offices between 6-800 a month, not including utilities).
If a primary care Dr out sources lab & image, not only is the equipment investment avoided, the billing for the service is someone elses issue. my primary care Dr seems to have his hands full of just staying on the appointment schedule. My primary care Dr appears to rely on PA's and techs that do the mundane, weight, BP, temp, etc.,
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Old 09-06-2008, 08:16 AM
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Re: Are there any Physicians in the house?

Quote:
Originally Posted by SUBBYRU89 View Post
...... financial consultant for a doctor who wants to go out on his/her own. Doc makes 500K a year where he is with 4/5 other physicians, but wants to fulfill his/her long-life goal of owning his/her own practice.

........ but I don't know what a family practice has as assets besides needles, tubes, and the small stuff a patients sees when they snoop through the draws

.......... advise if it's worth getting on his/her own or should he/she stay where they are.

For insurance I know it would make a huge difference for him/her to be on their own.... or be the owner of the practice....... Having others working for you means a whole new world of expenses (at very least a receptionist and records person and likely at least a nurse or two)..... and changes EVERYTHING when it comes to insurance premium...... it's a slurry of how many Dr.'s work there (# chances to screw up vs number of people to pin it on vs do they have their own insurance.... and how good is it), how long they've been in practice, what their exact degree is etcetera......

For equipment don't forget the expensive stuff..... x-ray equipment (even the lead protective pads/vests are beyond pricey) film and light tables if going old school.... most are upgrading to really really really high def flat screens and digital scanning equipment.... seriously the monitors are a good 14k each going that route (my father-in-law was the lead wiring/networking guy in a hospital chain for 12+ years), don't forget computer equipment.... membership/access costs into pharmacy networks and stuff like that..... Plus will this person be doing their own lab work or with that also be outsourced? Outsourcing is expensive..... mostly because it requires expensive equipment and testing media...

Plenty of expensive stuff to have around too.... liquid nitrogen (for freezing off warts) and storage device.... and other must haves...... I wonder how much a case of wood tounge depressors costs??


ya know..... after you made me think about this.... I'm really glad I didn't become a Dr............ wholllllly crap ..... but dang do they have nice houses....

Last edited by iizbeastie; 09-06-2008 at 08:19 AM.
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