jmj11 Posted June 2, 2012 Share Posted June 2, 2012 We opened our doors one year ago today. We are still in business, I am still sane. For that I'm deeply grateful.:;;D: Link to comment Share on other sites More sharing options...
Moderator True Anomaly Posted June 2, 2012 Moderator Share Posted June 2, 2012 Congrats! I know you've worked damn hard for your little corner of the medical universe Link to comment Share on other sites More sharing options...
andersenpa Posted June 2, 2012 Share Posted June 2, 2012 Wow I can't believe it's one yr already. great work Mike- you are a trailblazer. Link to comment Share on other sites More sharing options...
Joelseff Posted June 2, 2012 Share Posted June 2, 2012 Wow I can't believe it's one yr already. great work Mike- you are a trailblazer. Agreed. Congrats and Thanks Mike for helping pave the way for future PA practice owners. I'm definitely a fan! Sent from my myTouch_4G_Slide using Tapatalk Link to comment Share on other sites More sharing options...
Contrarian Posted June 2, 2012 Share Posted June 2, 2012 Congrats Bro... My 1 yr anniversary isn't until Sep 1st... but I am grateful to have a few Docs that believe in what I'm doing and in me enough to get and stay committed to my success. Link to comment Share on other sites More sharing options...
marilynpac Posted June 2, 2012 Share Posted June 2, 2012 Mike and Contrarian...if you had to do it over again....what would you do different? What would you not do at all...what would you wish you would have done? Link to comment Share on other sites More sharing options...
jmj11 Posted June 2, 2012 Author Share Posted June 2, 2012 Mike and Contrarian...if you had to do it over again....what would you do different? What would you not do at all...what would you wish you would have done? Contrarian I still want to visit your operation. I know what I wish I could have done differently, but looking back I'm not sure how I could have and that is in financing. For sure I would never have asked Wells Fargo for a loan but have gone to a small, local bank. WF wasted three months of my time and caused me to spent countless hours creating report after report for them. Still, I never got a penny from them. I eventually got my loan through another bank. But the process of financing took almost six months. This long, unexpected, delay caused great complications for the upstart. I won't go into details here, but I had to work hard at my old job up until the day we opened doors at the new place. I was literally working about 18-20 hours per day for a few weeks leading to the opening. In a perfect world, where I had good financing, I would have left my old job one month prior to opening my doors so I could focus on starting a business. However, being the sole provider for a family of 7 for many years, and having 5 kids in college at the same time, I didn't have the personal financial resources to leave my old job early. I had exactly 30K of my own money to invest. This total chaos in my life (working so hard with virtually little sleep), and frankly being exhausted, caused me to make some early errors, like hiring the wrong biller (biller # 2). She ended up costing many thousands if not tens of thousands of dollars through her lying. If I could have focused better, I could have researched her back ground much better than I did. I knew that billing was extremely important. I had spent months finding the right biller (biller # 1). I thought I had the right one and she starting causing problems just before opening so I fired her. But then I had to replace her quickly. The so-called stellar biller (# 2) in her place was even much worse with inflated resume and references and created a mess. I do have a great biller (biller # 3)now but it took about 4 months to fire biller #2 and hire her. So, if someone could get adequate financing (most practices will need 90-120K cash to start) I would try my best to avoid banks. In my experience they see PAs the same as MAs it made no sense to them that a PA could own a practice. Especially in this post-recession era, the banks hold on to their money like a newborn to a nipple. Mike Link to comment Share on other sites More sharing options...
Contrarian Posted June 2, 2012 Share Posted June 2, 2012 Mike and Contrarian...if you had to do it over again....what would you do different? What would you not do at all...what would you wish you would have done? Nothing really... except maybe done it sooner. I'm only open 3 evenings a week, we have a panel of 35 patients and a waiting list of about 25 patients. Simply seeing 12 patients per month pays ALL the bills. Link to comment Share on other sites More sharing options...
Contrarian Posted June 2, 2012 Share Posted June 2, 2012 ^addiction medicine?^ Behavioral Medicine (Addiction, Psychiatry, Chronic Pain) :wink: Link to comment Share on other sites More sharing options...
klane360 Posted July 2, 2012 Share Posted July 2, 2012 Congrats:=D: Kevin Link to comment Share on other sites More sharing options...
ToppDog Posted July 2, 2012 Share Posted July 2, 2012 Congrats !!! Link to comment Share on other sites More sharing options...
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