Surgeries have historically been the most profitable aspect of otolaryngology. So, why (and how) would you start spending less time performing surgeries, while making more money AND actually helping more patients?
Many clinicians perform surgeries well into their 70s and 80s when perhaps they shouldn’t because they need the money, or live by the saying, “It’s better to burn out than fade away.”
It’s unfortunate that most ENTs discover too late that their practice isn’t profitable unless they’re using their own two hands. If you don’t have a plan in place now, you may end up in this situation—unable to retire early, take more vacation time or even sell your practice.
You may not see another option for income, so you keep performing surgeries.
This may work for a little while since surgery is a great revenue stream, BUT reimbursements for surgeries are declining rapidly.
There is another way to guarantee your financial success, timely retirement and excellent patient care: Don’t give up surgery, transition out of it.
What does this mean?
Transitioning out of surgical care doesn’t mean quitting surgery or quitting your practice, but rather moving into preventative medicine. You can start to walk away from intense patient care when YOU choose to do so… and still make a steady income.
The preventative treatment side of otolaryngology focuses heavily on treating balance and vestibular patients. Daniel Deems, MD, PhD is an ENT in Sarasota, Florida. He has made this transition into preventative care. He and his staff currently diagnose and treat balance and vestibular patients within his practice. Dan says, “I’m transitioning from performing surgeries because I know I will be able to help a greater number of patients.”
Dan has turned his practice into a more preventative approach in order to continue helping more patients and ensure the success of his practice—no matter what age he decides to retire.
He recognizes the tremendous need for balance therapy in his community and he has become one of the only providers of expert balance care in his area. Dan’s ability to provide his current and new patients with balance treatment is preventing his patients from experiencing falls and other injuries due to balance and vestibular dysfunctions.
“This is the opportunity to stay at the top of your game and leverage that proper transition,” Dan explains.
Dan now provides excellent, holistic care for his patients, and his practice is driven by the systems, policies and procedures needed for his business to be successful.
Adding balance and vestibular therapy to your current otolaryngology practice is the solution to transitioning out of surgical care and into preventative care.
