Wise Ways to Spend Your Time and Money When Building a Practice

Hi, I’m Steve Christensen, a member of the Young Ophthalmologist Committee, and I’m joined today by Dr. Aaron Holtebeck. Dr.
Holtebeck is a comprehensive ophthalmologist in Milwaukee, Wisconsin,
and he participated in a panel in our YO Learning Lounge discussing wise ways to
spend your time and your money when building a practice. Dr. Holtebeck,
thanks for joining us. First let’s talk just briefly about time, a valuable
resource of which we all wish that we had more. What do you believe are some
wise ways that we can spend our time when building a practice? Well, time is a
precious resource for all of us and you know, when you’re when you’re starting
out there are some times, there are some instances where you actually have more
time than then you will later in practice. And it really depends on the
type of practice that you’re joining, you know. If you’re joining a practice that
has referrals that are from medical doctors that participates in an
IPA or another health care organization, taking time to introduce yourself to
those medical doctors, those primary care doctors is a great way to spend time
early on. Sometimes it means spending time talking to the optometrists in your
area. In some some practices, in an academic center, of course your referrals maybe from ophthalmologists and you know getting to
know the ophthalmologists in your community is a good idea for any
of us though really regardless of what practice style you’re in. And what
about money? You finish training you get your first job something you have a
little surplus little extra income what are some ways that would be wise for you
to spend your money when you’re building your practice? Well, you know money certainly is important to spend a little
time and money on yourself you know because we’re all you know busy. It’s
it’s not a bad idea to you know take time away and you know rest and relax
occasionally. When talking about you know money to buy into a practice, that often
is dictated by the practice and sometimes
a lot sometimes it’s a little. Being aware of what else is involved in
that practice whether that’s a surgery center that may require capital
to buy into it’s important to have you know good people to help you out
when you’re talking about big purchases like that, whether that’s you know
financial advisers or accountants. Having a team around you to have
that kind of help when you’re talking about big expenditures is crucial having
having that team on your side people that you relate well to and trust.
And probably the combination of investing time and money would be in the
acquisition of a new skill or learning a new technique where maybe you need to
take a day or two off from your clinic or surgery schedule to go and observe or
learn a new technique or new skill and that’s a financial sacrifice
but then there’s also the time that you invest in learning that new skill. So
could you touch base touch just briefly on learning a new technique a new skill?
You’re a comprehensive ophthalmologist but what specific new techniques have
you needed to learn maybe that you weren’t taught during your formal
training? Sure and that’s going to be true for many of us
because you know learning is lifelong and so there are techniques and things
you know surgically that the change that may not be around while you
trained but are when you’re in practice. You know in my case
many of the newer MIGS procedures and cataract surgery, there weren’t
nearly as many options and those were new techniques that I became familiar
with and were a great addition to my repertoire of surgery to
treat glaucoma and and better treat my cataract surgery patients. But
many things evolve as time goes on so taking time to pay attention to
those new new advances and new technologies is crucial as well.
Thank you so much for spending some time with us today we really appreciate it.
Thank you.

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