Seeing Eye-to-Eye Podcast. Episode 5. What should doctors consider when starting a new practice?

Max Medert, MD and Shannon Wong, MD discuss topics that individuals considering a career in medicine should be aware of. These topics are not usually discussed in the medical school curriculum that is focused mainly on the science and art of medicine.
The seeing eye to eye (SEE) podcast with Shannon Wong, MD and Max Medert, MD is a podcast with two eye surgeons discussing medicine, business and life.
Shannon Wong and Max Medert are ophthamologists/eye surgeons at Austin Eye in Austin, TX in practice together.
0:01 Introduction of your beloved hosts
0:37 Why would a doctor want to start their own practice vs join an established medical practice?
1:50 The current trends on physician's starting their own practice
2:14 What is the target audience for this specific podcast episode?
3:36 Is the work-life balance for a solo medical practice better than an employed medical practice?
5:20 "There is a price to pay for everything." The myth of the "boss life/boss babe."
6:00 Examples of doctors starting their own solo medical practices in ophthalmology, oculoplastics and retina surgery
7:52 Considerations when starting a new medical practice - renting vs buying office space?
12:57 Considering the terms of medical office building space leases
13:40 How much space should I rent when starting an ophthalmology medical practice?
15:15 How many exam rooms does an ophthalmologist need to start a solo medical practice?
17:20 How much does ophthalmology equipment cost to start a new ophthalmology practice that does cataract and refractive surgery?
21:40 Used vs new ophthalmology equipment costs?
24:18 Servicing ophthalmology medical equipment considerations.
25:28 The total cost for start-up equipment costs for starting a cataract and refractive surgery practice
27:53 How do you decide how to hire staff when starting a new ophthalmology practice?
32:00 Considerations in medical billing in a new medical practice
33:45 All-cash, private pay vs medical insurance business models. Concierge medicine experience?
38:15 Preparatory steps before opening a solo medical practice. What to plan for?
42:10 Social media reviews and solo practice
43:40 Ophthalmology subspecialties that are in high-demand vs ophthalmology specialties that are more saturated in most communities. Neuro-ophthalmology, pediatric ophthalmology.
45:30 Insurance credentialing considerations.
50:30 The importance of learning how to run a business and learn leadership skills in medicine

[@MrPipin22]

Keep posting business in medicine content

[@llToNzxll]

Hi, Jirat, here. Thank you so much for this episode, Dr. Wong and Dr. Medert! I learned so much!!

[@ShannonWongMD]

Thank you Jirat! Hope all is well in Thailand!