Sorry I haven’t been updating the blog more than once a year. Yes, solo practice is well and alive. Yes, we are continuing to have good discussions in our google group (please contact me though the blog if you want to join).
Interestingly enough, there was a recent article in Medscape about burnout. When stratified for work setting, doctors in solo practice had the least burnout (39%) compared to other settings such as healthcare organization (50%) or outpatient clinic (58%).
I’m not saying solo practice is a cure for burnout, but I am saying that loss of autonomy is a significant reason for burnout- and as a solo practice owner, you can pick your own EHR, set your own schedule, and decide who you work with. Solo practice isn’t perfect, but it’s better than the alternative of being told what to do.
For more information on starting a solo practice, come to course 437, Sunday November 5 at 11:30 AM in South 213.
Being financially independent reduces the probability of burnout. Getting rich doesn’t make you any happier (trust me on this). But NOT having enough net worth appropriate for your age can make you VERY unhappy. Getting rich gives you the freedom to choose to do things that make you happy, and avoid/ outsource tasks or people that don’t make you happy.
Last year was standing room only for our lecture “Personal finance for ophthalmologists: How to save $3 million on your own”, course 476, on Sunday November 5 at 3:45 PM also in South 213.
Even if you retain a financial advisor, you need to make sure they’re acting in your best interest. Too many times have I seen ophthalmologists get taken advantage of by someone who they felt they could trust. Come to our course and learn the basics and pitfalls of investing.
The two screenshots below are about what the AMA is doing about burnout, They cite that 66% of pediatricians with Dayton Children’s feel respected, above the national average of 55%. Believe me: at practices like the Las Vegas Eye Institute, Orlando Eye Specialists, or Goel vision, 100% the doctors are treated like royalty and feel respected. They’ve told me they weren’t when they were employed. And there’s no need to do an “organizational biopsy” when you run the organization yourself, just saying.