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Anyone partner up with a MD/Do for a practice?

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Hi,

 

I have currently partnered up with an MD in Houston to start our own practice. It's kind of like a "franchise," however, he already owns 5 other clinics to which he is the sole owner of them all. This is the first time he is having a business partner in general. I am going to be running the practice solely and have him as my supervising physician. I will be an employee and partner. 

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On 2/28/2017 at 3:06 PM, JAPA07 said:

Hi,

 

I have currently partnered up with an MD in Houston to start our own practice. It's kind of like a "franchise," however, he already owns 5 other clinics to which he is the sole owner of them all. This is the first time he is having a business partner in general. I am going to be running the practice solely and have him as my supervising physician. I will be an employee and partner. 

Hello, if I may ask, as a patner, what's the modality for sharing? 60/40 or 70/30 and in addition, as an emplyee, what do you get as salary and benefits? Thank you. 

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At my practice there are 3 partners, 2MDs and 1PA. They each get paid relative to their productivity. I.e. If one provider brings in 40% of the revenue - that provider gets 40% of the net profit after salaries and overhead are paid. The PA typically ends up netting 200-250 per year.

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26 minutes ago, marktheshark89 said:

At my practice there are 3 partners, 2MDs and 1PA. They each get paid relative to their productivity. I.e. If one provider brings in 40% of the revenue - that provider gets 40% of the net profit after salaries and overhead are paid. The PA typically ends up netting 200-250 per year.

That's good, seems you have great physicians as partners, most of them I learnt are very greedy; sometimes, some of these greedy ones have their wives as office managers and want to boss you around and report to them. 

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On ‎8‎/‎13‎/‎2017 at 5:18 PM, marktheshark89 said:

At my practice there are 3 partners, 2MDs and 1PA. They each get paid relative to their productivity. I.e. If one provider brings in 40% of the revenue - that provider gets 40% of the net profit after salaries and overhead are paid. The PA typically ends up netting 200-250 per year.

What type of practice is this? Asking for a friend...

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Guest Elpatodog

Not a partner but I just joined a private practice with  a bc Nephrologist/Internal Med doc. It’s just the two of us. He has 2 different practices one with his Nephrology clients because he is medical director for DaVita dialysis and the second business is my side doing home visits and clinic work.

 

 

 

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On 2/28/2017 at 1:06 PM, JAPA07 said:

Hi,

 

I have currently partnered up with an MD in Houston to start our own practice. It's kind of like a "franchise," however, he already owns 5 other clinics to which he is the sole owner of them all. This is the first time he is having a business partner in general. I am going to be running the practice solely and have him as my supervising physician. I will be an employee and partner. 

Hello JAPA07.

How is it going after one year in your partnership?

Thanks in advance. Have a lovely day.

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On 1/6/2018 at 8:51 PM, Elpatodog said:

Not a partner but I just joined a private practice with  a bc Nephrologist/Internal Med doc. It’s just the two of us. He has 2 different practices one with his Nephrology clients because he is medical director for DaVita dialysis and the second business is my side doing home visits and clinic work.

Good morning Elpatodog.

What is does 'bc' mean in 'bc Nephrologist/Internal Med doc'?

How do you like this work? How many home visits do you do? I'd like to add home visits to my primary care work.

Thanks in advance. Have a good day.

On 1/6/2018 at 8:51 PM, Elpatodog said:

 

 

 

 

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On 3/14/2018 at 10:46 AM, ianmacallister said:

Good morning Elpatodog.

What is does 'bc' mean in 'bc Nephrologist/Internal Med doc'?

How do you like this work? How many home visits do you do? I'd like to add home visits to my primary care work.

Thanks in advance. Have a good day.

 

Just perusing the thread and saw your question, in this case, the 'bc' likely means board certified

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I'm an ortho PA in New Jersey. Just wanted to see if there are any PAs that are partners in the state and own their own clinic or LLC and would like to know a little bit about the process if possible. TIA!

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On 3/14/2018 at 9:14 AM, ianmacallister said:

Hello JAPA07.

How is it going after one year in your partnership?

Thanks in advance. Have a lovely day.

Hi,

It's been 2.5 years in and I am ready to be bought out. I want to grow and he wants to play it safe. Need to evaluate what is your partners goals and see if they align with yours before you become partners. My mistake! However, I am so thankful for the opportunity to team up with this Doc. I have learned SO much in running a business and what it takes and am ready to do it on MY OWN!

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On 8/13/2017 at 5:18 PM, marktheshark89 said:

At my practice there are 3 partners, 2MDs and 1PA. They each get paid relative to their productivity. I.e. If one provider brings in 40% of the revenue - that provider gets 40% of the net profit after salaries and overhead are paid. The PA typically ends up netting 200-250 per year.

Looking at this now.  Thinking the 40 percent is a reasonable start point for owners pay.  Would you agree?

 

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On 11/9/2019 at 6:48 AM, ventana said:

Looking at this now.  Thinking the 40 percent is a reasonable start point for owners pay.  Would you agree?

 

Not quite sure i understand what you mean

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On 11/10/2019 at 9:19 AM, marktheshark89 said:

Not quite sure i understand what you mean

40% of receipts for which the PA was responsible 

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I think what makes most sense is whatever your percentage of receipts is relative to the whole practice, that’s what you should get of the net profit. 40% is a great number, unless you are seeing 60% of the patients. 

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