Private Practice

Physicians spend only 66.5% of their work time on direct patient care. The remaining 33.5%—or nearly two full days per week—is lost to administrative tasks and non-clinical overhead. This is the time you’re not treating or talking to patients. That’s where medical practice management (MPM) software comes in. If you’re running a practice, MPM software … Read more

Your life can take unexpected turns, especially in a high-risk, high-reward profession like medicine. When you’re “used” to a certain high income, you may seriously struggle if you suddenly can no longer work because of a disability. That’s why Social Security disability insurance can be a good backup plan to support you with some money … Read more

Your disability insurance should cover at least 60% of your lost income. But the truth is, 60% is more like a rule of thumb than a definite answer, at least for high earners like physicians who spend around 15%–35% of their income on taxes. Treat this guide as a series of steps or thoughts you … Read more

Owning your own practice means making decisions for patients without outside interference. It also means setting your own schedule, controlling your own workload, and providing care without rushing to appointments. At your own private practice, you can also build deep, authentic relationships with your patients instead of running a high-volume operation. But starting a practice … Read more

Key Takeaways Being a successful medical practice manager is wholly different from being a good physician. Countless physicians believed that their medical skills were enough to open their own practice in the healthcare industry. While this is often true, they miss the “business” aspect of things, potentially dooming their practice before it even begins. You … Read more

Key Takeaways If you’re thinking of starting your own private practice but worry about financial risks, a lack of business experience, or building a patient base from scratch, buying an existing medical practice might be in the cards. Instead of starting from the ground up, you inherit an established patient flow, trained staff, and an … Read more

No matter what kind of practice you manage, you could probably be cutting expenses in at least one area: administrative costs. That’s not a callout; it’s the reality that most practices face, especially in complex industries like healthcare. In fact, experts say that administrative complexity within the United States healthcare system could contribute to a … Read more