...All of these practice owners that sold to them screwed the profession.
I imagine that in podiatry, much like any small healthcare practice even just 10 years ago (PCP/dental/anasthesia/pharm), used to be a good small business where the owner retires, sells to an associate, the associate works and then retires, sells to his associate, gets a partner to expand, so on and so forth. Even if the older docs were selling their practices at what a lot of you guys on this forum consider inflated prices, I'd rather pay an inflated price for a practice and make 50% of everything I bring in for the next 35 years versus this alternate universe that we have created where private equity firms overpay the old guys to sell, and now we have no chance of taking over an older practice and being business owners, all while making 30% of collections.
...
You
severely underestimate how easy it is to start a PP for podiatry. It's also not as expensive as you think.
This is not dent where you need hundred$ of thousand$ in equipment.
This is not plastic surgery or retina where you are rare and need a very wiiide refer base from docs and word of mouth (and a surgery center?).
This is not even ophtho or neuro or something where you need a whole lot of diagnostic equipment.
Besides podiatry or FP, the only easier or cheaper office to start might be ... maybe psych??? (one or even no staff for psych, no instruments)
...Anyone selling pod offices to supergroups is just getting paid. No problem with that. C'est la vie.
It is
very easy to compete with supergroups. Don't be afraid of it. They are generally weak and not staffed well (docs or support staff). They'll overbook or overbill or have many issues as they are profit-oriented and not truly local. It's like starting a new restaurant and competing against Dennys... sure, some people want fast, but it's not quality.
The ones to be careful of going against are actually longstanding successful small or medium pod groups with good docs. That is usually hard to break into those demographics, they likely have refer networks fairly entrenched in that city/area. They also will go to the mat for refers, reputation, that area.... but supergroups just close underperforming locations or move docs around or open/buy offices often. The supergroups are run by typically crap to average leadership and rely on ads and fast appointments, but the smaller networked pod groups with refer sources secured can be much more formidable (same for a skilled and likeable and dominant hospital DPM in the area... tread carefully unless there is plenty to go around).
And sure, there is the TINY chance of a well-run supergroup nearby, but it's unlikely. Most large and supergroups have average to below docs, underpay them, and any good doc likely won't stay long. Supergroups are usually just a start point for young DPMs (while they look to leave to greener pastures)... or maybe a forever home at the supergroup for lackluster DPMs. Bottom line: there is just no way to to get many, many, many good staff and docs at all locations for any supergroup. It does not happen. People generally HATE going through a phone tree, having poor customer service, dealing with an office whose staff and docs are clearly just there for a paycheck with a lot of turnover. Some people like that or don't mind it, and those are not your target customers anyways.
There is plenty to go around. Remember when Leonidas laughed at the Persians when they had an army of slaves but he had free men... super soldiers? Think of it that way: supergroups are nonsense. "
The wolf does not concern himself with the opinion of sheep." PCPs would nearly always prefer to refer to a local doc than a corporation (hospital PCPs probably have to refer to a hospital pod... but in general, independent or MSG or other PCPs will prefer small/solo PP that communicates to supergroup with revolving door of podiatrists, typically). It's the same for people living there in the area: they'll usually prefer a doc with longevity who is attached to - and well-liked in - the area.
For a fast litmus test, call my office and ask when routine non-injury and non-wound new patients are seen (bunion, skin or nail, flat foot whatever), and then call the nearby supergroup.. they'll probably overbook you for same day or in their many cancel and no-show spots. Tells you all you need to know.
🙂
