06/09/2022    Dale Feinberg DPM

Corns, Calluses, Ingrowing Toenails, and Fungus - DPM Optional(Ivar Roth, DPM, MPH)

I found the two sides of the current state of
podiatry income very informative. A few years ago,
I decided to ”give” my 40 year old private practice
away as it was time to retire and my did not want
to leave my wife with a vacancy in her medical
center. I came up with a novel idea of charging the
new podiatrist $50,000 for all my equipment and all
my charts and goodwill and require that he signed a
three-year lease with my wife. I would stay on
board to help with any transitions necessary and
set up the new guy with all my current staff and
found them a super capable office manager to take
him into the future. I also told the new guy that I
would accept $1500 a month until the debt was paid.

The long and short of the story he lasted four
months before going back to where he came from
during these four months I used all my PPP money to
keep the new guys business going paying all the
overhead and staff salaries. The new podiatrist put
in absolutely no effort to meet doctors, market,
and visit bankers and only showed up to see the
patients that were booked. Needless to say this
fantastic opportunity died on the vine.

About a month afterwards another podiatrist in my
town died and several were hired by the hospital
leaving it wide open market to anybody that would
put a little effort into making it work. It all
worked out okay for me in the end I was able to
sell all my equipment via podiatry websites all
over the country and recoup a major part of my
asking price.

I also found a pain management specialist to take
over my office and additional space so my wife came
out smelling like a rose. When I started private
practice with no residency training in 1981, my
success or failure all rested on my shoulders and I
had a successful 40 year old practice. I agree with
Dr. Roth that your rewards are proportional to the
effort you put in to making yourself a success

Dale Feinberg, DPM, Yuma, AZ

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