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  • ACN ACN 
    Moderator
    Status: Physician
    Posts: 667
    Joined: 01/08/2016
    Splash Refinancing Bonus

    When considering investing into a new asc, you have to consider how many ORs are planned and the use of those ORs. Also what specialities are being brought in and the breakdown of ownership?

    If physicians are all investing, do they control 51% and have more voting rights or is it some equity firm?

    What specialities? Ortho, ent,, optho, and Plastics bring in a lot of revenue.

    How far away are competing surgery centers and what’s the restriction on dual investment and mileage?

    Our ASC has a 25 mile convenant. Our second asc is 25.1 miles away. Ownership is 90/10 and 80/20 with 2/3 and 3/2 voting rights.

    If you're ever having a bad day, just remember in 1976 Ronald Wayne sold his 10% stake in Apple for $2,300.

    ACN ACN 
    Moderator
    Status: Physician
    Posts: 667
    Joined: 01/08/2016

    You will run a deficit probably for the first 2 years. Your first 3 months at minimum you will have 100% overhead and close to zero collections. Then over the next 18 months you will be digging yourself out of that hole.

    I would check the verbage of the contract to see if you can bonus if you are in the black or once you become partner does the deficit get eaten by the other two partners or are you always responsible for your deficit.

    Our contract will allow new doctors to bonus and keep 80 to 90% of their earnings if they are in the Black. Once we offer Partnership if they are in the red then the partners eat the cost of their deficit and the new partner starts from zero

    If you're ever having a bad day, just remember in 1976 Ronald Wayne sold his 10% stake in Apple for $2,300.

    in reply to: First job out of training #253588 Reply
    ACN ACN 
    Moderator
    Status: Physician
    Posts: 667
    Joined: 01/08/2016

    I had locked in my rates for about $1,000 with one lender and when rates went down two weeks later significantly I asked if they could float my rate down and they said no. I then said this other bank is offering 0.5% better and I would like to know how to get out of my mortgage… within 5 minutes I had an email saying they will work on lowering the rates

    They matched it. From a business perspective is better to have mortgage with the bank then to lose it over a small change in interest for the bank

    If you're ever having a bad day, just remember in 1976 Ronald Wayne sold his 10% stake in Apple for $2,300.

    ACN ACN 
    Moderator
    Status: Physician
    Posts: 667
    Joined: 01/08/2016

    Only credit cards, cash, and license. Anything else is frivolous and unneeded.

    We don’t have a debit card and we don’t carry checks. That’s asking for trouble.

    Need cash? Discover card cash back purchase or drive through window at Bank. I get cash, about $200, from the bank twice a year probably, if that even.

    Actually just checked personal capital , withdrew $400 this year total and it was right before our vacation for tips.

    If you're ever having a bad day, just remember in 1976 Ronald Wayne sold his 10% stake in Apple for $2,300.

    in reply to: PSA – What's in Your Wallet? #253412 Reply
    ACN ACN 
    Moderator
    Status: Physician
    Posts: 667
    Joined: 01/08/2016

    I’ve had no further issues on Chrome on my android.

    If you're ever having a bad day, just remember in 1976 Ronald Wayne sold his 10% stake in Apple for $2,300.

    in reply to: Dead forum? #253397 Reply
    ACN ACN 
    Moderator
    Status: Physician
    Posts: 667
    Joined: 01/08/2016

    Indochino. I got suit and 3 custom shirts for $300. The suit had to be realtered after the first make, but fits great now.

    I’d wait for a sale to get, 2 for 1 or some shirts also.

    If you're ever having a bad day, just remember in 1976 Ronald Wayne sold his 10% stake in Apple for $2,300.

    in reply to: suits #253395 Reply
    ACN ACN 
    Moderator
    Status: Physician
    Posts: 667
    Joined: 01/08/2016

    Monthly.  The amount depends on bills and home renovation projects (ie. wife’s spending).

    If you're ever having a bad day, just remember in 1976 Ronald Wayne sold his 10% stake in Apple for $2,300.

    in reply to: How often are you investing in taxable accounts? #253197 Reply
    ACN ACN 
    Moderator
    Status: Physician
    Posts: 667
    Joined: 01/08/2016

    Didn’t know you could choose; shows how much I know about it.

    I recently found out that what I was charging for rent qualified for lower tax rates this year.  (My tenants were fabulous and worth the decreased income.)

    Click to expand…

    You can choose “not” to rent to the individual applying with section 8.

     

    My parents did the same you mentioned.  My dad loved to only increase rents by like $10-20 instead of the $50-100 others were because he liked the tenants.

    If you're ever having a bad day, just remember in 1976 Ronald Wayne sold his 10% stake in Apple for $2,300.

    in reply to: Do you rent out to section 8? #251147 Reply
    Liked by G
    ACN ACN 
    Moderator
    Status: Physician
    Posts: 667
    Joined: 01/08/2016

    Ebikes are awesome. My wife and I did a few tours in Ebikes in our last vacation. Highly recommended

    If you're ever having a bad day, just remember in 1976 Ronald Wayne sold his 10% stake in Apple for $2,300.

    ACN ACN 
    Moderator
    Status: Physician
    Posts: 667
    Joined: 01/08/2016

    Yesterday, after hitting log in it would send you back to the main forum page and looked like you were not logged in. However, if you opened up a thread, you were logged in.

    Seems to have resolved on my end today. I had issues on other websites, so I figured it was a cloud problem somewhere on the interwebz

    no it’s still happening for me.

    Click to expand…

    Started happening again today for me as well.

    If you're ever having a bad day, just remember in 1976 Ronald Wayne sold his 10% stake in Apple for $2,300.

    in reply to: Difficulty logging into forum…. #250334 Reply
    ACN ACN 
    Moderator
    Status: Physician
    Posts: 667
    Joined: 01/08/2016

    Yesterday, after hitting log in it would send you back to the main forum page and looked like you were not logged in. However, if you opened up a thread, you were logged in.

    Seems to have resolved on my end today. I had issues on other websites, so I figured it was a cloud problem somewhere on the interwebz

    If you're ever having a bad day, just remember in 1976 Ronald Wayne sold his 10% stake in Apple for $2,300.

    in reply to: Difficulty logging into forum…. #250252 Reply
    Liked by redsand
    ACN ACN 
    Moderator
    Status: Physician
    Posts: 667
    Joined: 01/08/2016

    I kept track for my first year for my procedures.. It was spot on. I’ll probably do it for another year.

    If you're ever having a bad day, just remember in 1976 Ronald Wayne sold his 10% stake in Apple for $2,300.

    in reply to: RVU Tracking #250090 Reply
    ACN ACN 
    Moderator
    Status: Physician
    Posts: 667
    Joined: 01/08/2016

    We called all the dealers in multiple states. Found out who wanted to make the best deal near the end of the quarter. My wife flew across country to save $15k on a new car!

    If you're ever having a bad day, just remember in 1976 Ronald Wayne sold his 10% stake in Apple for $2,300.

    in reply to: new car haggling #250088 Reply
    ACN ACN 
    Moderator
    Status: Physician
    Posts: 667
    Joined: 01/08/2016

    You can start putting out feelers into your desired area. Also can look outside that area and get practice interviewing and doing phone calls.

    If you're ever having a bad day, just remember in 1976 Ronald Wayne sold his 10% stake in Apple for $2,300.

    in reply to: How early can I start my job search (fellow) #249753 Reply
    Liked by ENT Doc
    ACN ACN 
    Moderator
    Status: Physician
    Posts: 667
    Joined: 01/08/2016

    We have $0 goodwill at a very lucrative practice. Goodwill is a scam and golden parachute for senior partners. Our buyin is a multiple of EBIDTA averaged over the last 3 years.

    If you're ever having a bad day, just remember in 1976 Ronald Wayne sold his 10% stake in Apple for $2,300.

    in reply to: Dental Group Practice Buy-In #249600 Reply
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