Case Study Affiliated Psychiatric Medical Group

28 June 2021
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A story about  Psychiatric Medical Group

Dr K had separated from his wife several years before on amicable terms, she had moved to another state, they maintain a friendly and an adult relationship. Dr K had since met another lady and they were in a partnership.

Dr K’s ex-wife was diagnosed with stage 4 cancer with a life expectance of 4-5 years. He was supporting her with medical insurance and the deductible (access) proportion of her treatment. This was a substantial financial undertaking, that he needed his business to be able to support. So, he started a process of expanding is practice creating more revenue, putting his own personal quality of life with his partner on temporary hold.

I met Dr K in a business networking group, he was a somewhat irrelevant member of the chapter with a very dry wit and took some of the groups procedures with a large pinch of salt, which drew me to him without really knowing him.

He approached me to arrange a meeting which took place at his business office, there I witnessed another aspect of Dr K’s personality, as he explained in confidence his situation. His ex-wife had recently died, much sooner than the prognosis had predicted, removing the need for his financial support for her treatment.

Dr K was in his mid-50’s fit and healthy and wanted to now plan his life around a more fulfilled life with his partner, not working so hard, having more time to travel with her and enjoy their lives together.

He was seeking my assistance to downsize his practice and restructure the business to better fit his revised life expectations.

Like many physicians Dr K was not very business minded, and the task of untangling the business model that he had spent a couple of years putting together in order to support his undertaking to his ex was complicated and a little daunting.

There were loans- premise leases- commitments to the other practitioners the office support structure all to be scaled back without offending HIPAA (Health Insurance Portability and Accountability Act) compliance.

Suffice to say I spent many hours in their office, and in discussion with the landlord as well as the financial institutions.

Within 6 months the business was downsized, loans rescheduled over an extended period- practitioners assisted to set up in their own businesses while remaining affiliated to Dr K, relocation to a more suitable office space, with a fully automated electronic appointment system that allowed patients to schedule appointments in line with Dr K’s now reduced availability schedule.

Dr K had been doing a heroic and unselfish thing by supporting his ex with her health issues and treatment.

Now he and his partner are enjoying life together to the full, and I am proud to call them both good friends of my wife and me.

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