WCI Podcast

When you own your practice, you're able to give better care, have more control and less burnout over your professional life. In general, you make more money too. So, it is mostly all positive, although it does take some work upfront. Will and Juli Albright have been sharing their knowledge of practice startups on the blog for a couple of years, since they started their practice, Alamo Plastic Surgery. Will is the surgeon and Juli is the chief financial officer. They both join us in this episode to talk about their motivation to open a practice, the steps it took, the biggest obstacles and challenges, navigating salaries and benefits for employees, guarding against embezzlement, and marketing the practice. www.whitecoatinvestor.com/med...
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The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs for specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor channel is for you!
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[@GilSolanoREEGT]

Video starts at 7:11

[@mattmino9]

Great talk. Helpful to hear about all the challenges/rewards with starting a practice.

[@thewhitecoatinvestor]

Glad you enjoyed it.

[@user-ue5my9fx2r]

I think you need to make video with the PCP about how to start the private practice. PCP practice is the real need.

[@jodidoz5927]

Dr Dahle thanks for this post If possible, can you pls bring on like a primary care physician who started his own practice so we can get another perspective with regards to insurance etc struggles. Thanks kindly

[@thewhitecoatinvestor]

If you know of one who would like to be on the show, please send them our way!

[@21Matt5]

Great video! Very educational, though it would be nice to get people that are not heavy on private pay patients.

[@thewhitecoatinvestor]

That can be tough to build a private practice without private pay patients. I mean, my EM practice loses money on every Medicaid patient it sees. I mean, we lose less than the self-pay (aka no-pay) patients, but we're still losing money. No margin, no mission.

[@21Matt5]

@@thewhitecoatinvestor I believe we are talking about the same thing. Private pay for me is self pay. As he only does cosmetic procedures at this point and no insurance will pay for those, he is left with self-pay (private pay) patients - easy life. Most offices are built on commercial insurance +/- Medicare with Medicaid being useless (hurray universal health care around the corner) and I would like to hear more from those individuals. As EM physician, you do not get to choose who to treat, but in outpatient settings, this is different (for now).

[@davidpowell3347]

I would like to mention to Dr. Dahle the existence of a book, "The Familiar Physician:Saving Your Doctor In the Era of Obamacare" by Peter B. Anderson, M.D. the book deals with the difficulty of running/maintaining a Private Practice in a day where more and more doctors are "employed" by hospitals and medical businesses and such,the book tries to suggest approaches to allow the private practice doctor to continue in today's environment I don't have a lot of contact with these things (I am not an M.D.) but I did go to University with Peter and did have a day following him around to his medical classes so long ago-I think 1975- unfortunately Peter passed a couple of years ago

[@thewhitecoatinvestor]

Sounds interesting. Thanks for sharing.

[@mariamaestevens]

Not what I hoped for. How about primary care?

[@vivekveluchamy7840]

Very nice podcast! Thanks for sharing your experience! Best wishes.

[@thewhitecoatinvestor]

Thanks!

[@vonnieofly]

Really? With the COVID vaccine? What is your viewpoint now, most especially with the most recent CDC statement on the vaccines???

[@lilliecannon7143]

Yeah, that didn't age well..

[@rafimando2111]

Ads every 3 minutes. This ain't gonna work.

[@thewhitecoatinvestor]

I think KZbin typically inserts them every 5 minutes. It's really a dilemma. There is an option to eliminate them, but that not only decreases revenue (which admittedly isn't much so no big deal there), but then KZbin also doesn't share the video as widely, which is a much bigger deal to our mission.

[@mattmino9]

Great talk. Helpful to heard about all the challenges/rewards with starting a practice.

[@thewhitecoatinvestor]

Glad you enjoyed it.