Good article on how this physician built a medical practice in Wyoming...part of the secret to success....starting with electronic medical records from the start...and he was able to negotiate with the hospital to help with the debt from medical school...and bring on PAs with incentives....BD
My next good move was in negotiating my contract with the hospital. I was committed to living in Rock Springs, although I had to convince my wife that this was the place for us.I negotiated an eight-year forgiveness of the approximately $220,000 borrowed against a two-year income guarantee from the hospital.....I started using an EHR on my first day in practice. I happened to get a demo disk for e-MD's EHR software from a fellow resident who'd picked it up in Florida at a conference. This ultimately turned out to be one of my best decisions. I had some challenges implementing the system, but overall, it has gone remarkably smoothly—with the help of my trusted IT professional. I credit this EHR for much of my success.
On top of all this, I no longer have hospital call; recently, hospitalists took over that responsibility. I work four days a week.
How I built a successful medical practice in under seven years - This author had a mountain of medical school debt, but he made savvy decisions that brought professional and personal satisfaction.
Seven YEARS ?? Only in Wyoming perhaps. It would have taken about 18 - 24 MONTHS most places.
ReplyDeleteThe use of an EMR from day one is a huge advantage, I'm sure. But seven years sounds pretty weak.
Most people would have moved on to a better opportunity unless there was a compelling reason to stay, as this doctor had.