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Why You Should Start A Practice Without Walls

Tod Stillson, MD explores the concept of “Practice Without Walls,” emphasizing micro-corporations for physicians’ autonomy and flexible job structures.

Details:

Target Audience: Young Doctors (From Residency to 10 Years of Practice)

Learning Objectives:

Definition and Concept of Practice Without Walls:
Objective: Understand the fundamental concept of “Practice Without Walls.”
Learning Points:

  • Define what “Practice Without Walls” means in the context of modern healthcare.
  • Explore how this approach challenges traditional practice models.
  • Recognize the shift from physical clinic spaces to virtual and flexible practice structures.

Benefits for Physicians:
Objective: Recognize the advantages of adopting a “Practice Without Walls” mindset.
Learning Points:

  • Discuss the benefits of flexibility in work arrangements.
  • Understand how autonomy impacts physician satisfaction and well-being.
  • Explore how work-life balance improves with this model

Creating a Virtual Business Based on Professional Services:
Objective: Learn how to establish a micro-corporation tailored to your medical practice.
Learning Points:

  • Understand the concept of a professional micro-corporation (PC).
  • Explore how a PC allows you to leverage your professional assets.
  • Recognize the tax optimization and financial benefits of this approach that maximize your wealth accumulation

Key Features of a Professional Micro-Corporation:
Objective: Familiarize yourself with the essential features of a micro-corporation.
Learning Points:

  • Individualization: Customize your micro-corporation based on your specialty, interests, and personal style.
  • Asset Control: Understand how a PC puts you in charge of your accumulated professional assets
  • Virtual Mobility: Appreciate the flexibility of a micro-corporation that can adapt to changing circumstances.
  • Location Independence: Explore how technology and the pandemic have reshaped healthcare delivery.

Foundation for Autonomy:
Objective: Recognize the critical role of a micro-corporation in preserving professional autonomy.
Learning Points:

  • Discuss the link between autonomy and physician burnout.
  • Understand how a PC serves as a foundation for thriving in your medical career.
  • Explore real-world examples of physicians who have successfully maintained autonomy through micro-corporations.

Professional Micro-Corporations in Different Job Structures:
Objective: Explore the versatility of micro-corporations across various job models.
Learning Points:

  • Employment Lite: Understand how this PC-based PSA structure is the best alternative to traditional employment
  • 1099 Work: Explore the benefits of being a full-time or part-time independent contractor.
  • Job Stacking: Learn how to combine part-time W-2 positions with 1099 jobs.
  • Direct Care Models: Discuss innovative practice models that align with micro-corporations.
  • Private Practice Ownership: Recognize how a PC can be a cornerstone to maximizing your private practice success.

 

(This lecture is part of our Private Practice 101: Starting Your Own)

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Tod Stillson MD

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Tod Stillson MD

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