You're never too old to be an entrepreneurial physician!
Tuesday, May 3, 2011 at 11:00AM 
Many older physicians are contemplating quitting medical practice and retiring, fed up with the hassles of huge overheads, employee squabbles and grumbling patients.
Not so Dr. Robert Novich.
An internist and nephrologist who has been practicing for over 35 years, Dr. Novich of Westchester County, N.Y. still approaches his work with the enthusiasm and pleasure that stems from tackling interesting challenges while serving his patient population in very satisfying ways.
Last week, I had the pleasure of interviewing Robert and his son, Jeffrey Novich, to learn more about his innovative micro-practice, and how the two of them teamed up to create one of the most "tech savvy solo primary care practices in America." Robert was recently featured in Forbes for his eye-opening commitment to utilizing technology to slash overhead to 15% and greatly enhance care and patient relationships.
Many years ago, Robert spotted the potential that computers offered to streamline his practice operations. Building his first practice management system with simple tools, over the years he layered on more and more functionality. As his information technology became more sophisticated, his need for extra employees dropped. This expense reduction in turn more than offset his declining reimbursements!
Listen here to my interview with Dr. Robert Novich and Jeffrey Novich to hear how father and son built a platform with which to run not only Robert's medical office, but also one that has the capabilites of serving a wider audience – the needs of other medical practices, especially if they are micro-practices.
Wanted: beta testers for Patient Communicator (their web-based service that facilitates doctor-patient communications)!!
I'd love to hear your thoughts and comments back at The Entrepreneurial MD!
[image courtesy of Forbes Inc]
Reader Comments (2)
A true micro practice allows a physician to practice medicine with only a fraction of the business expense and overhead. A physician can run the practice with literally no staff. So that means you, the physician, are really running the show. Business expenses and overhead are low because there are only one or two exam rooms and no staff. Micro practices are typically fully electronic, utilizing both eHRs and practice management billing solutions.
Dr. David Edward Marcinko MBA CMP™
http://www.CertifiedMedicalPlanner.com
[Publisher-in-Chief]
Thanks for sharing,
-Dag