From: pamela wible <roxywible@comcast

From: pamela wible <roxywible@comcast.net>
Sender: Practiceimprovement1@yahoogroups.com
Mailing-List: list Practiceimprovement1@yahoogroups.com; contact Practiceimprovement1-owner@yahoogroups.com
Date: Sat, 27 Aug 2005 22:54:21 -0700
Subject: Re: [Practiceimprovement1] Minimalist vs. Maximalist expenses - a 29K/mo savings!
Reply-To: Practiceimprovement1@yahoogroups.com

Hi Gwen!

The 30K is rather astounding to me as well but I (and my OCD) reviewed the detailed flow sheets quarterly and I watched as that 30K was peeled off the money I generated every month(calculated quarterly). I was a workhorse!! The staff and other docs bent over backwards for me. They were in love with me and desperately needed a female physician so the atmosphere was fun though the pace was grueling - overall I enjoyed it. SO... why the 30K/month....my best guess involves the following expenses:

1) STAFF (salaries/benefits/retirement) - 17 staff (a few part time) and a NP for 4 docs
2) BUILDING - they were buying it so I guess I was too while I was with them (2 years)
3) MALPRACTICE - I just do not think they had time to shop around for the best deal.
                We were paying 12K/each/yr and I think it could have been less.
                My tail was 18K which they paid though circuitously I probably paid
4) The usual ancillaries (attorneys fees, CPA, utilities, recruitment fees for another doc they wanted
                    to hire, recruitment of MAs who kept leaving, a consultant to help lower
                    overhead, etc...)
5) I would not rule out a bit of "foul play" as it did take them 2 years and multiple
    phone calls/letters for them to come clean with my production bonus. I am generally a
    very trusting/nonconfrontational type but as it says in the Desiderata " Exercise caution in
    your business affairs; for the world is full of trickery. But let this not blind you to what virtue
    there is; many persons strive for high ideals; and everywhere life is full of heroism.'


I HAD NO CONTROL over any of these expenditures and they were just peeled right off my salary! I think they knew their expenses were spinning out of control (as most medical practices) so a couple years before I got there they even hired a "consultant" to help them trim the waste. According to the lead doc the "consultant" was yet another wasted expense!

Amazing!

I have been liberated!!

Pamela
Pamela Wible, MD
Family & Community Medicine, LLC
3575 Donald st. #220
Eugene, OR 97405
541-345-2437
roxywible@comcast.net


On Aug 27, 2005, at 10:29 PM, Gwen Hanson wrote:

Pamela,

This is completely amazing! Did you pay tail insurance
and start from scratch? Your PORTION of overhead was
$30,000 a month? How is that possible?
Congratulations on your current overhead. I doubt
anyone can touch that!

Gwen

--- roxywible <roxywible@comcast.net> wrote:

> I would like to report that my monthly expenditures
> (malpractice, rent for one room office
> which includes utilities, professional/hospital
> dues, phone land line and cell) comes to an
> incredibleÂ $563.00/month.Â I am not including the
> 2K I put in up front for furniture and
> supplies which I am depleting rather slowly. I
> already owned my laptop and all I really
> needed to purchase was a $99 HCFA fill and print
> program.
>
> It is absolutely liberating!!! As a reference my
> best employed position (3 physician owned
> practice on my way to partnership) involved a
> monthly overhead of 30K!!!Â And that was
> my share of overhead after it was split among the 4
> docs!!
>
> Keep it simple is my only advice. I love my life and
> I have reached my professional climax.
>
>
> Pamela
> Pamela Wible, MD
> Family & Community Medicine, LLC
> 3575 Donald st. #220
> Eugene, OR 97405
> 541-345-2437
> roxywible@comcast.net
>