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April 18, 2022 admin 3 Comments

Things I Wish I Would Have Known Graduating Residency

There is a lot of growth and change required from when a doctor is in training to being an attending. Often there is a lot of stress that goes along with this change. The feeling of being out on your own, no safety net of your program anymore is a weird feeling when you first make that transition.

I wanted to look back at the things that I wish I would have known upon graduating residency about the practice of medicine or my life post-graduation.… Read the rest

April 11, 2022 admin 3 Comments

Is Medicine Worth It Financially Compared To Tech

The grass is always greener. Living in a more tech driven city, I can’t help but sit back and think about the opportunity cost of becoming a physician. Seeing a young tech patient who is making way more money that I am also occasionally has me questioning if medicine is “worth it.”

I constantly hear in my clinic about the young twenty something who is making well into 6 figures.… Read the rest

April 3, 2022 admin 9 Comments

Automate Your Medical Practice

If you are not automating some part of your day, then you are way behind most other people or practices. Even if you do not own your own practice, you need to be automating as much of your day as possible. Obviously not everything can be automated, but there might be more than you think.

Any routine task that you delegate to anyone else that just needs a functioning brain, should be automated.… Read the rest

March 28, 2022 admin 0 Comments

The 2 Year Penalty For A Medical Practice Owner

Maybe you are already a practice owner. Or maybe you are thinking of owning your own practice. Maybe you are just curious what the 2-year penalty is all about. For those of you thinking of owning your own business, congratulations! It is absolutely worth it, if you like the business side of medicine. However, there is a huge downside beyond the work that it takes to run a business.… Read the rest

March 22, 2022 admin 4 Comments

Investments Most Doctors Get Wrong, Including Myself

Hindsight is always 20/20. I remember graduating from residency, starting this blog, and really trying to minimize investments that I got wrong. While I was not perfect, I would like to highlight mistakes that most doctors make. Some of these mistakes listed below are from personal experience.

Many of the reasons might not be as obvious as you think. Yes, we all know it is not a good idea to go out and buy a new speedboat right away.… Read the rest

March 14, 2022 admin 3 Comments

Best Practices: Your Medical Business Checking Account

I recently found out someone tried to fraudulently cash a check from my business account. I got a call from Wells Fargo, my bank, alerting me that someone in a city 4 hours away was attempting to cash a $8,955 check with my business account number on it. The check was written out to an individual, not a business. Wells Fargo immediately tagged it as fraud.… Read the rest

March 7, 2022 admin 2 Comments

Pandemic And its Effect Mentally & Financially on Doctors

Although it is a bit premature to say that we are victorious against COVID-19, the mood is definitely improving where I practice. Patients are becoming happier and less stressed. There are less people yelling at us about masks. The “bad behavior” that we were previously seeing is starting to decrease significantly.

As the dust settles on the past 2 years of chaos, I would like to take a moment to sit back and reflect on the financial effects and the emotional toll that the pandemic has had on doctors.… Read the rest

February 21, 2022 admin 0 Comments

The Lean Startup When Starting a Side Gig Or Practice

Part of the downside of the medical profession is that many doctors share the same trait, a desire for perfection. However, this trait can have some serious negative consequences. Especially when a doctor is involved in a startup side gig or new practice. There is a book that I really enjoyed called the “The lean startup” by Eric Ries.… Read the rest

February 14, 2022 admin 5 Comments

Inflation In Medicine and What Future Holds For Doctors

Inflation numbers are in, and they were worse than we all thought. Inflation based on consumer price index was 7.5% for the past 12 months as of January 2022. If you follow the consumer price index, CPI, then you can see that inflation has been on a tear lately.

This has potential to be huge implications for practicing physicians. Spoiler alert, things do not look good.… Read the rest

February 7, 2022 admin 5 Comments

Where Have All The Easy Level 3 Visits Gone

Since January 2021, billing rules have changed for CMS (Medicare) and most insurance companies. Billing is now primarily based on time or medical decision making for outpatient clinic visits. Historically there have been 5 levels of care, with level 5 being the most complex visit. Up until 2021, almost all of the codes used for outpatient medicine were level 3 through level 5.… Read the rest