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06/25/2019    Joseph Borreggine, DPM

Practice Burnout

“Practice burnout” is not the issue, but rather it
is the fact the we are just “too late to the
game”. We figured that our practices would exist
for many years and when it was time to “retire”,
then we would sell it off for a hefty sum and
enjoy the fruits of our labor in our sunset years.

Unfortunately, this is not the case because all
the young DPMs over the last ten years have chosen
to make their careers into a “vocation” rather
than an “avocation” (as I have stated in past
postings). These younger doctors of podiatry are
now “working for the man” and very few are working
for themselves.

They are not interested in even trying to get into
the arena of a private practice because of all the
frustrations that you have mentioned. These daily
worries create sleepless nights wondering if the
banana peel you are standing on one foot will out
do the opposite foot that is standing on the edge
of cliff. You lose either way. Remember, the
definition of insanity is doing the same thing
over and over again expecting the same result.

I am in the same boat since I have a solo
practitioner for the last 31 years and facing the
same music that you are at present. I am tired of
the same issues that you mentioned. My practice is
for sale has been posted in PM News and the
APMAnews for the last six months.

During that time, I have had only one “interested”
party that came down to look at the practice.
After they spent a generous amount time with me
and getting reasonable financial and historical
picture of my practice decided they could not
“pull the trigger” and “take a leap of faith” and
make a go of it like I did 27 years ago when I
bought the practice.

They were told by their accountant that they could
not finance the cost of the building and the
equipment along with the small amount of
“goodwill” that was included in the $250K asking
price.

Because the actual limiting factor in this
individual buying my practice was that due to
their high student loan debt which prevented them
from doing so. This is the typical situation for a
high percentage of DPM graduates and young
residency trained practitioners who are looking to
enter the profession.

Hence, they decided to go another way and take
what they can get to make ends meet. Most either
find employment with large corporate medical
organization, hospitals, or orthopedic surgeons.
This is the reality for the podiatric profession
and medicine in general. This is what I am talking
about when I say “vocation versus avocation”.

Most likely, in the next five years “true”
independent medical practice will be gone and
replaced by the aforementioned employment
arrangement(s) or concierge medicine.

So, with that said, you are needing to make a
change? I agree that you do!

Then just do what I have done to secure your peace
of mind. Think about just closing your practice
and move on to more certainty with your future in
the profession and financial prosperity for the
next 5-10 years.

I joined a large and reputable podiatric
organization that services long term care
facilities. This company has been around since
1972. I joined then three years ago. It was the
smartest thing that I ever did. I should have done
it years ago. Because, providing this type
podiatric medicine is what we do best. So why not?

Currently, I see patients in these long term care
facilities providing palliative foot care services
two to three days a week. I have hopes and
aspirations to eventually going full-time once my
medical building sells (since that is the only
thing left that I can do at this point and time).

This situation is better for me, my blood
pressure, and will keep me less anxious thinking
about what is going to happen day to day.

Providing care at these types long term care
facilities, I am guaranteed and decent and
prosperous wage without the hassles that go along
with private practice.

Think about it. And if you are interested, I can
help you (and others like us in the same
situation) learn about making this transition just
I have.

Why not just make your living by doing what you do
best as a podiatrist?

Joseph Borreggine, DPM, Charleston, IL

There are no more messages in this thread.

Langer


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