physician resources?

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  • #37300
    MomMDMomMD
    Participant

    You’ll be pleased to know that MomMD is outlining some extensive new services for our physician members (long overdue)! These might include: practice financing, practice sale or acquistion, personal credit, practice business planning, insurance, starting-out and much more.

    What kind of information and services would you like to see? What kind of info do you find particularly difficult to find? If you are interested in being on the MomMD advisory panel suggesting content for physicians, email me at sethina@mommd.com

    Best wishes,

    Sethina Edwards

    #37301
    GracieThreeGracieThree
    Participant

    There are so many things that would be helpful to know… a few:

    CAPITAL – where to go for loans, how to request one (is an attorney involved, a CPA, etc), how much money is required to start up a practice, how much TIME has to be invested before the first patient walks through the door, how many months until you break even, income guarantees and how they are paid back

    STAFFING – how many staff members to hire, and of what type, and how much to pay them

    TIME – see above; plus how many hours a week can you reasonably expect to spend at work/working on your practice/on call, managing family and job demands (if anyone has this all figured out, she may deserve her own website!)

    The journal Medical Economics has some great info on these things. But having it summarized here in one place, instead of scattered across so many journals, would be a valuable resource, I think.

    #37302
    snssns
    Participant

    Legal information is usually hard to find. Legal info about the practice of medicine- definitions of patient-physician relationships, how and when to terminate a patient-physician relationship, contracts, etc.

    #37303
    docnrolldocnroll
    Participant

    CAPITAL You go directly to a bank… no attorney and be prepared to sign your assets, life insurance and house… First loan I got was a small business loan.

    Compete banks… great time to borrow money…

    Start with one great person and build from there…

    #37304
    psychpsych
    Participant

    This may be psychiatrist specific since my solo practice is REALLY a solo practice, but how do you decide whether to incorporate ie form an LLC? How do you protect your personal assets in case you get sued?

    #37305
    snssns
    Participant

    Originally posted by psych:
    How do you protect your personal assets in case you get sued?

    I have wondered about this one a lot and wish I knew more about it.

    #37306
    docnrolldocnroll
    Participant

    I was not incorporated for the first 10 years, self employed, …. The LLC is a perfect way to simply, inexpensively protect yourself and your assets. It was designed for physicians and other small businesses rather than having to form an S corporation. A c corporation is a true corporation and better if you are in a group. You are still basically self employed with an S corp or LLC and have to pay the same taxes. A c corporation makes you an employee of the corporation and of course pays 1/2 the social security for you ( kind of a moot point when you are the corporation but there are a few more deductions like deducting health insurance completely. Any attorney can draft an LLC for you.

    HOPe this helps. b

    #37307
    MomMDMomMD
    Participant

    bump!!! Anyone else???

    #37308
    TayoTayo
    Participant

    Just want to reply to the Pyschiatrist doctor
    http://www.scores.org could help you for “free” with any specific questions you have about incorporating and explain your options. I actually owned a medical billing services. So, I think you have a place some where listing some of those type of services out. Because what I find is a lot of turnover within practices and then leaving a big mess for doctors to figure out. Just an FYI whom ever you hire within or out make sure they know
    the insurance end,contracts and coding. Because you really need this. I see a lot of physician being totally rip off by thier contract and not knowing how to read them. I actually stubble across this site. Its great place for physicians I will be through I am willing to answer any insurance or billing question. “free” I love what do. Tayo@smartmedonline.com.

    #37309
    DONOTDELETE ****DONOTDELETE**
    Participant

    Message deleted by admin – advertising not allowed.

    #37310
    MomMDMomMD
    Participant

    This type of post is STRICTLY PROHIBTED BY MOMMD. Should you wish to advertise on the MomMD site please email ads@mommd.com

    Thanks

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