Announcement

Collapse
No announcement yet.

Implosion of small radiology private practice

Collapse
X
Collapse
First Prev Next Last
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Implosion of small radiology private practice

    Hi all

    Well it seems from the last time I’ve posted my practice continued down the implosion pathway.

    The future is uncertain and may include the following- hospital employment, telerad take over, some hybrid of the two, some other larger group taking over the contract. No idea what admin is planning as senior partners doing negotiations/ in denial and details are not forthcoming.

    Is there anything I should look out for or do?

    Bottom line given the national radiology shortage I figure I’d still have a job no matter what potential outcome. I am just wondering if anyone had any advice.

    I Am also counting on the good relationship I have with admin.

    Thanks for any advice in advance!!

  • #2
    Start exploring other opportunities. Don’t put all your eggs in one basket. Sorry this is happening.

    Comment


    • #3
      Agree with @ ENT Doc. Start looking at other options ASAP so you aren’t left holding the bag if the worst happens. Even the information you get from that process may be helpful to you if/when admin comes looking to hire you. Best of luck.

      Comment


      • #4
        Sorry to hear about your situation. I agree with the above advice regarding beginning to explore other opportunities.

        I'll add that, if you don't already have a fully funded emergency fund, you should start funding that right away. That way you have cash set aside to carry you through any gap in employment.

        Best of luck in escaping what appears to be a terrible situation!

        Comment


        • #5
          Yeah, just talk to other groups around.  Everyone will sympathize with you and understand your situation.  We've interviewed plenty of people in a similar position, who are in a "not 100% looking but might be out a job soon" scenario.  Remember, it'll still take several months to get credentialed to start a new position.

          Financially, just stay in a bit of a holding pattern for now.  No big purchases.  Maybe hold off on the 2 week vacation to Italy.

          Comment


          • #6
            Get a jump and start looking. Even if everything with your current job turns out "ok", you may find a better opportunity. I'm sorry the senior partners are providing very poor leadership and decision making.

            Comment


            • #7
              the employment may involve a buyout?  just ride the ride until it's clear what's going to happen.

              it doesn't hurt to start interviewing however.  buff up cv.  call old friends.  this may be an opportunity to join old residency mates who are in wonderful practices.

              good luck

              Comment


              • #8
                How long are you from making partner? That may determine strategy too, particularly if a sell out is on the horizon. Do you have a noncompete?

                Comment


                • #9
                  Same thing happening to me in a different specialty.  After it was clear there would be no transparency going forward, especially regarding new contracts, I immediately refinanced my student loans, slowed down retirement contributions, and started looking for new jobs.  This is going on everywhere in many specialties.  We can thank the boomers for this.

                  Comment


                  • #10




                     We can thank the boomers for this.
                    Click to expand...


                    yikes

                     

                    Comment


                    • #11




                      Get a jump and start looking. Even if everything with your current job turns out “ok”, you may find a better opportunity. I’m sorry the senior partners are providing very poor leadership and decision making.
                      Click to expand...


                      There is a significant shortage of radiologists out there on the streets, and it has become a game of musical chairs, in reverse. Too many chairs, not enough people for the number of seats. Excellent leadership and decision making will still suffer if you do not have enough bodies to deploy. Our group went from having two too many bodies in January (when the OP posted) to two few bodies today, having lost four people since then.

                      I am 100% certain that if you are a rad with average training, an average skill set, average contacts, and an average work ethic, you could be easily working in a new job within 90 days. If a new group takes over, it is highly likely that they will hire you to work where you currently practice since they do not have the excess capacity; nobody does. Private practices, corporate radiology groups, and academic practices are all shorthanded. (Unfortunately for me, it means that I am working full time from 5/1 through the end of the year...at least. ?)

                      Comment


                      • #12







                        Get a jump and start looking. Even if everything with your current job turns out “ok”, you may find a better opportunity. I’m sorry the senior partners are providing very poor leadership and decision making.
                        Click to expand…


                        There is a significant shortage of radiologists out there on the streets, and it has become a game of musical chairs, in reverse. Too many chairs, not enough people for the number of seats. Excellent leadership and decision making will still suffer if you do not have enough bodies to deploy. Our group went from having two too many bodies in January (when the OP posted) to two few bodies today, having lost four people since then.

                        I am 100% certain that if you are a rad with average training, an average skill set, average contacts, and an average work ethic, you could be easily working in a new job within 90 days. If a new group takes over, it is highly likely that they will hire you to work where you currently practice since they do not have the excess capacity; nobody does. Private practices, corporate radiology groups, and academic practices are all shorthanded. (Unfortunately for me, it means that I am working full time from 5/1 through the end of the year…at least. ?)
                        Click to expand...


                        They pulled you back in!

                        Comment


                        • #13










                          Get a jump and start looking. Even if everything with your current job turns out “ok”, you may find a better opportunity. I’m sorry the senior partners are providing very poor leadership and decision making.
                          Click to expand…


                          There is a significant shortage of radiologists out there on the streets, and it has become a game of musical chairs, in reverse. Too many chairs, not enough people for the number of seats. Excellent leadership and decision making will still suffer if you do not have enough bodies to deploy. Our group went from having two too many bodies in January (when the OP posted) to two few bodies today, having lost four people since then.

                          I am 100% certain that if you are a rad with average training, an average skill set, average contacts, and an average work ethic, you could be easily working in a new job within 90 days. If a new group takes over, it is highly likely that they will hire you to work where you currently practice since they do not have the excess capacity; nobody does. Private practices, corporate radiology groups, and academic practices are all shorthanded. (Unfortunately for me, it means that I am working full time from 5/1 through the end of the year…at least. ?)
                          Click to expand…


                          They pulled you back in!
                          Click to expand...


                          https://www.youtube.com/watch?v=UneS2Uwc6xw

                          (at the one minute mark)

                          Comment


                          • #14
                            I remember just a few years ago all my radiology friends could not find jobs and now there’s a shortage of radiologists? So weird.

                            Comment


                            • #15




                              I remember just a few years ago all my radiology friends could not find jobs and now there’s a shortage of radiologists? So weird.
                              Click to expand...


                              The radiology job market is cyclical. The last trough to the most recent ?peak represents the largest swing I have seen in my 23 years of practice. Bring on AI, and bring on the robots. We need all hands on deck to get the work done.

                              Comment

                              Working...
                              X