I need some opinions

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  • #36624
    PediDocPediDoc
    Participant

    I was fired awhile ago, and my job ends in a month. Here are my possibilities:

    Join an established group practice. Office a bit old fashioned (they don’t even have a pulse oximeter yet!) and attend deliveries in a hospital far enough from my home I’ll have to stay at the hospital while on call. I don’t mind that too much–give me an internet connection and I’m happy as a clam. Up side–call one in six, time off post call, flexible schedule.

    2. Work part time in another pediatrician’s office until we build the practice enough that I become a partner and buy him out in five years when he retires. Upside–eventually I own the practice, no rushing to deliveries, very close to home. He’s been very honest about the financials of the practice. Downside–I don’t like the pediatrician much and he has a lot to learn, so I don’t know how it will work out. But I only have to put up with him for a short time, and he is very willing to learn. I can probably find other part time work at first (I am sure I can.)

    3. Start my own practice from scratch. My heart is in this, but it’s very scary and very expensive!

    I could also pursue a job as a hospitalist at a tertiary care center, but I am burned out by the politics of big institutions.
    :confused:

    #36625
    MTaylorMTaylor
    Participant

    Pedidoc,

    Obviously it’s impossible for me to “be in your shoes,” but…

    …if I were in your shoes…. 😀

    I would probably go for the established practice and partner with this guy for a few years…then buy him out. A question that came to my mind as I read your post is “how can you be sure he’s going to retire in 5 years…how can you be sure he’s going to make you a partner, and subsequently sell the practice to you?”

    The fact that “he has a lot to learn…” what do you mean? Is he an old guy that just does things outdated? If so, why would he change? Is he a young guy who is just inexperienced…if so, why would he retire?

    If your heart is in starting a new practice…your heart could also be in *this* practice because you’ll know you’re working towards ownership….and that’s a real motivator. :yes:

    Starting from scratch seems so…unnecessary….when you can do it “not from scratch.”

    #36626
    psychpsych
    Participant

    If you have the money to start up your own practice, I’d go for it. You will have much more control. Do you have enough of a referral base to swing it? And connections to people who could be excellent business manager, nurse, etc.?

    #36627
    maggie52maggie52
    Participant

    I’d choose your first option, sound the safest and most stable which is what you need a big dose of given your past year. :yes:

    #36628
    PediDocPediDoc
    Participant

    It’s interesting how I got an answer supporting each possibility! 🙂

    #36629
    rydysrydys
    Participant

    I can definitely relate as I was also just fired from a job and had similar options. The 2 offers I had were to be a part-time hospitalist or to go to the sattelite office of an established practice about 30 mins from home which is breaking even now, but staffed only with a PA. The owner wanted me to build up the practice. It sounded very enticing to be in charge of an office without having to lay out any money, but every time I thought about the work involved in building a practice I thought–why do all that work for someone else? Why not just start my own?

    Practically, I’m not able to afford to go without income right now, so I took the hospitalist job which is 5 minutes away from my house. When I called the other doctor to turn down the satellite office, he offered me to come part time to his regualar office which is a 10 minute walk from my house! (It’s so nice to be wanted again!) So I’ll be doing both. My goal is to build a patient base between the hospital and the practice so that eventuallly I’ll be able to go on my own.

    I think that your best option is to join the other pediatrician. If he is really open to change you will be able to mold the office (slowly) to the way you want it to run so that by the time you buy him out it will really be your office. I wouldn’t worry too much about changing the way he practices. He’s probably not going to change anyway and you’ll just get frustrated. You’ll find that the patients you bring in who like your style will stay when he leaves and the other’s will leave anyway if he changes. What you are being offered is the best of both worlds–so go for it! Good Luck!

    #36630
    maggie52maggie52
    Participant

    YAY rysdys- glad that you got a couple of jobs that sound reasonable and respectful!!! Was worried about you! 🙂

    #36631
    PediDocPediDoc
    Participant

    What a great opportunity!

    I am in an interesting position now. The big group fell through. The hospitalist position is at a University hospital, and my interview is scheduled next week. My first interviewer is someone whom I worked with for three years before he left the same system I got kicked out of. Believe it or not, I asked him to write a recommendation letter for the other position!!

    My second possibility, my ace in the hole, is someone who wants me to start part time, then build to full time, then buy out the practice in five years. He now makes what I’m making and is willing to sacrifice 1/3 of his income for a new partner. I can moonlight to make ends meet initially.

    I will be posting after my interview for the hospitalist position next week for all of your opinions. Thanks.

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