Interview & Job Searching

A doctor recently asked me about how to set up partnership terms.  I don’t have much experience with this subject but here’s some research I did.

First, you need to determine your practice’s financial value of your practice.  Your accountant can help.  Once a price has been set, the new partner either pays the full amount up front or pays it over a few years, with or without interest. While the new partner receives no tax deduction for the investment, the selling owners must report any gain on the sale of the stock (the portion that they are selling to the [ . . . ]

One way to find out more about a practice is from the receptionist or any staff member.  They will often provide honest information invaluable to assessing the true nature of the practice culture on a day-to-day basis.  Just a basic question like how long have you worked here can tell you alot.  If the front desk person hasn’t been there awhile, it could be a key to a bigger picture about the rest of the staff and their turnover.  And, it could be an indication that the practice doesn’t have good patient-office relations which could lead to less patients than [ . . . ]

Physiatry has seen trends in the favored services.  For example, EMG’s were a favorite 20 years ago, then interventional, then subacute.  New graduates are now gradually returning to an interest in inpatient, TBI, and SCI .

A newer trend in physiatry is the interest of private equity firms in physiatry.  Some private equity firms favor physiatry by the service provided.  For example, some firms affiliate with physiatrists who do subacute  work while some favor those who do general outpatient or interventional work.  If you have an interest in affiliation/acquisition, please contact me at [email protected], 888-362-7200, 717-232-7211 cell phone. [ . . . ]

Everyone is talking about New Year’s Resolutions!  What is your physical medicine and rehabilitation business resolution for 2020?  You might consider these PM&R resolutions:

• Find a new physiatry job.  Farr Healthcare, Inc. can help you with this!
• Increase your bottom line
• Pursue avenues towards physical medicine and rehab practice acquisition as many practices are being acquired these days.  Farr Healthcare, Inc. has information about some possibilities.
• Change the practice’s incentive arrangement
• Add new information technology to the practice
• Do more marketing

You have to ask yourself what is your true desire for the future.  Whatever it is, the experts say it’s [ . . . ]