BUYER FOR SOUTHEASTERN OUTPATIENT PRACTICES AVAILABLE
OVERHEAD IN A MULTISPECIALTY GROUP
Generally speaking, physiatrists have a very low overhead when practicing on their own. However, when you get into the multispecialty arena, and orthopedists are involved, the overhead skyrockets. Since physiatrists do not need alot of ancillary services, and your equipment is fairly low budget in comparison to surgeons, this should be reflected in what your share of the overhead is. Unfortunately, what happens over and over again, is that you end up sharing the overhead equally with the other physicians, but do not necessarily reap the same profits.
You have to isolate what components of the practice you are contributing to in order to determine what your share of the overhead should be. Do you oversee PT? Refer to them? Generate income for the practice from this cost center? Do you receive compensation for your involvement in this? Are the spinal injections being done under Fluoroscopy in an ASC owned by the Group, or in an Office based surgical suite? All of these things are vital to how you will evaluate what your overhead should be. How are the profits of the group distributed?
If you are sharing equal overhead, but are only reaping the benefits of your own billings, then this is definitely something you have to look at and find a way to get the overhead for you to a more manageable level. Determine what direct costs you have, and what cost centers produce revenue for you. The lease space should only reflect what you use. The equipment costs are one-time costs. The other cost allocation would be the surgical suite – depending on how this is set up. An in-office surgical suite would be simple; an ambulatory surgery center is another story, and would depend on if you have ownership interest, the same is true with MRI.
Contributed by Elizabeth Lee, President
Physiatry Reimbursement Specialists, Inc.
A National Company serving Physiatrists all over the U.S. for 25+ years
Fort Worth, TX
WHEN TO LOOK FOR A NEW DOCTOR
Finding a good match for your practice opportunity continues to be a challenging endeavor. If you want to add a new graduate, this process becomes even more challenging as most residents go onto do a fellowship. It’s best to look for a new doctor as soon as you know you have a need. I suggest that you start your search at least a year before you need the doctor.
REMINDER – IMMEDIATE RELEASES OF NEW PRACTICE OPPORTUNITIES
If you’d like to receive immediate release of new practice opportunities, please sign up at my website at www.farrhealthcare.com. The upper left hand side has a place where you can enter your email address.
About once every week or two, you will receive an email about any new practice opportunities. More information about the new practice opportunities may be found by clicking on the Openings tab on the Farr Healthcare website. Even more information is available by contacting Farr Healthcare, Inc. at [email protected], 888-362-7200.
REMINDER – FORUM FOR COMMENTS ABOUT PHYSIATRY
Now there’s a place to record your comments or questions about physiatry non-clinical issues. I look forward to your thoughts. So far only 1 physiatrist has participated. Please visit my website at www.farrhealthcare.com and click on the tab that says Forum. Please feel free to use it as often as you wish. If a response is requested, I will work to provide it! look forward to hearing your thoughts.
REMINDER – THANK YOU REFERRAL BONUS
As a thank you, Farr Healthcare, Inc. continues its referral bonus program. Any doctors you refer to me for a particular opportunity who ultimately start work at that opportunity, Farr Healthcare, Inc. will provide you with a $1,000 as a thank you. I look forward to hearing from you.
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