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so what should be done about these excessive collections that is fair ?
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My wife almost makes that as a RN here, with a 7-3 schedule M/F. What specialty is this? Seems pretty bad.
LA is super expensive, you’ll be living rough on that and not at all like a doctor. No big deal, but you have to be prepared for it.
Agree with everyone else, deal sounds bad. Also agree that partnership without some kind of passive income generating asset is worthless now a days. Probably was never worth anything really outside of that. Unless you’ll be getting ownership of the real estate at a discount, etc…
Let me tell you from experience once you get in a bad deal, even if you manage to make small positive changes, it is extremely hard to get any reasonable or worthwhile changes done.
RN makes close to 180k, do you mean NP ? That seems too much for RN working normal hours. Isn't that idea of buying in is getting all these patients and referrals that you would not have gotten otherwise ? What is passive income except for owning part of the real estate ?Comment
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My wife almost makes that as a RN here, with a 7-3 schedule M/F. What specialty is this? Seems pretty bad.
LA is super expensive, you’ll be living rough on that and not at all like a doctor. No big deal, but you have to be prepared for it.
Agree with everyone else, deal sounds bad. Also agree that partnership without some kind of passive income generating asset is worthless now a days. Probably was never worth anything really outside of that. Unless you’ll be getting ownership of the real estate at a discount, etc…
Let me tell you from experience once you get in a bad deal, even if you manage to make small positive changes, it is extremely hard to get any reasonable or worthwhile changes done.
RN makes close to 180k, do you mean NP ? That seems too much for RN working normal hours. Isn’t that idea of buying in is getting all these patients and referrals that you would not have gotten otherwise ? What is passive income except for owning part of the real estate ?
Okay, almost was certainly a stretch. She works 7-3, M-F and makes about 100k. Its not that much different and its an easy position, RNs in Cali make a lot. Passive income being some kind of surgery center, glasses business, imaging, testing, something tailored to your specialty.
I do not believe that getting existing patients even exists, let alone a large enough amount to make it worthwhile to pay for. Pts are fickle, especially in a place like LA, they will go where its convenient or cheaper (maybe doesnt matter if insurance based). Though of course those selling practices do, I've never seen any value in the patient base. They are usually anchored to the doctor, not the real estate. Some will stay, but many will not. After a couple years that well is tapped and will no longer matter anyway. Also, its in your best interest to downplay it whether or not it has any value.Comment
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