In this episode, Dr. Nisha Mehta is joined by Dr. Amit Mehta, an interventional pain physician and founder of ABM Pain Consultants, who transitioned from traditional private practice to an independent 1099 model. He shares how his model of working across synergistic private practices and building out a personal injury and workers’ compensation practice has allowed him to reduce overhead, increase revenue per procedure, and build greater flexibility into his work.
They discuss:
- How physicians can structure mutually beneficial relationships by providing specialized services within other practices while leveraging the practice’s existing infrastructure and referral network, instead of carrying the overhead of their own traditional practice
- How reducing overhead and diversifying practice locations can create greater control over schedule, income, vacation time, and overall work-life integration
- The economics of personal injury and workers’ compensation medicine, including how reimbursement can be significantly better than Medicare and traditional insurance – and what doctors should know how about how liens, MedPay, workers’ compensation payments, facility fees, and paid depositions work
- How to build and scale a personal injury practice, as well as the autonomy, efficiency, networking, and business skills required to succeed
- Why physicians should keep the long-term exit strategy on the radar—including ancillary income, investments, and the challenges of creating transferable value in a physician-owned private practice
This episode is sponsored by our financial advisors database at Physician Side Gigs. This curated list of sponsors was made based on recommendations from physicians in our communities. They’re familiar with student loans, 1099 income, private practice ownership, and everything in between. If you’d like someone to help get your finances organized, or to help make sure you’re on track to meet retirement goals, check out www.physiciansidegigs.com/financialadvisors
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