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01-12-2024, 10:50 AM
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Quote:
Originally Posted by Unregistered
GP that does not even do GDFM in SG, are they usually lousy / CMI type or just cannot be bothered to waste their time for this?
Does it help for setting up ur own clinic?
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the old timer GP probably not lousy. Most of them do their 5 years with some stint in polyclinic that see 80-120 patient a day. Trial by fire
Nowadays ? Aiya, all the bond breakers. I've seen 2021 local male graduate break bond immediately after NS and have their nameplate on clinic doors. These are the CMI doctor who give loratadine for URTI runny nose and combiderm for all rash
Nowadays clinics like this a plenty. All essentially selling MC. Space is very competitive. You rent a place with good footfall, u need to work long hours to get the patient numbers. First 20 patients of the day goes to rent, another 5 to 7 patient to pay receptionist, utililities etc. First 30 patient of the day is to break even only. Dun open from 8am to 9pm how to earn decent money. Sunday close is money lost, so suck thumb go open evening slot as well. Have to be extra nice to patient because such patient has no loyalty.
you are trained properly with a m.med at the least, you are selling expertise rather than time. Find a more ulu place with lower rent. First few years will not huat but patient also not dumb. Long term , you are good and solve their problem , they will return even if u charge a bit more expensive.
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01-12-2024, 11:09 AM
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So how much is the overhead ? What is the net income for average owner GP?
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01-12-2024, 11:22 AM
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Quote:
Originally Posted by Unregistered
the old timer GP probably not lousy. Most of them do their 5 years with some stint in polyclinic that see 80-120 patient a day. Trial by fire
Nowadays ? Aiya, all the bond breakers. I've seen 2021 local male graduate break bond immediately after NS and have their nameplate on clinic doors. These are the CMI doctor who give loratadine for URTI runny nose and combiderm for all rash
Nowadays clinics like this a plenty. All essentially selling MC. Space is very competitive. You rent a place with good footfall, u need to work long hours to get the patient numbers. First 20 patients of the day goes to rent, another 5 to 7 patient to pay receptionist, utililities etc. First 30 patient of the day is to break even only. Dun open from 8am to 9pm how to earn decent money. Sunday close is money lost, so suck thumb go open evening slot as well. Have to be extra nice to patient because such patient has no loyalty.
you are trained properly with a m.med at the least, you are selling expertise rather than time. Find a more ulu place with lower rent. First few years will not huat but patient also not dumb. Long term , you are good and solve their problem , they will return even if u charge a bit more expensive.
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Yea thats why a lot of new guys going into aesthetics. Higher value lower volume
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01-12-2024, 11:32 AM
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Quote:
Originally Posted by Unregistered
the old timer GP probably not lousy. Most of them do their 5 years with some stint in polyclinic that see 80-120 patient a day. Trial by fire
Nowadays ? Aiya, all the bond breakers. I've seen 2021 local male graduate break bond immediately after NS and have their nameplate on clinic doors. These are the CMI doctor who give loratadine for URTI runny nose and combiderm for all rash
Nowadays clinics like this a plenty. All essentially selling MC. Space is very competitive. You rent a place with good footfall, u need to work long hours to get the patient numbers. First 20 patients of the day goes to rent, another 5 to 7 patient to pay receptionist, utililities etc. First 30 patient of the day is to break even only. Dun open from 8am to 9pm how to earn decent money. Sunday close is money lost, so suck thumb go open evening slot as well. Have to be extra nice to patient because such patient has no loyalty.
you are trained properly with a m.med at the least, you are selling expertise rather than time. Find a more ulu place with lower rent. First few years will not huat but patient also not dumb. Long term , you are good and solve their problem , they will return even if u charge a bit more expensive.
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HDB void deck rent at a decent location is still around 10-12k if you can find a good deal and optimise the space well. Average price of consult + Medicine is around 50-60 dollars. Therefore u need to see 200 patients a month to break even or 50 a week. That would mean only the first 10 patients or first 2 hours of each day is spent on overheads. 2 nurses- around 5k a month in total so thats the next 5 patients. Assume the next 3 patients go on other miscellarnous expenses. Everything right before and after lunch then goes to profit. Assume a full day is 8 hours of work and u can see 5 patients an hour, thats 22 patients worth of proft. Around 1100-1320 dollars a day. Now multiply that by 22 work days a month(5.5 day work week) and adjust slightly upward for higher fees on Saturday mornings. Basically equal to 24 days a month. That is around 25-30k a month on a reasomable footfall, with no scale and no locums hired to extend opening hours. Additionally, costs are yet to be optimised and one can also scale to more locations in the future. Not bad at all for a 28 year old
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01-12-2024, 11:45 AM
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Quote:
Originally Posted by Unregistered
How do u have no overhead, u bought the space? U must be raking in crazy income with 2 practices and still working as a anchor
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One clinic is owned by a philanthropist UHNWI. It's a non profit organization. So he doesn't require me to pay overhead. I work there on Fridays. We also do rounds as a multidisciplinary team and I get paid for that time at rounds.
The other is work I do own time own target. I go to see the patients at their homes. Assessments. So there is no overhead.
The other two clinics I work Thurs morning at the one with 25% overhead and the afternoon for the one with 20% overhead. Some Wednesdays I do telemed from home for the clinic with 20% overhead. I also get clinical assistants to help me review medical records of patients and then preclerk them before I go in to see the patients. Same for telemed they also review history before I call the patients to summarize and close.
Hence I work 2-3 days a week. Plus minus 0-4 of those home visits a week which I do either on weekends or Mon Tues or Wed. I arrange when to see them directly.
From July to Nov so far my gross is $271,058.31 before overhead of $25,130.
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01-12-2024, 11:53 AM
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How about medicine cost and utilities ?
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01-12-2024, 01:30 PM
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Quote:
Originally Posted by Unregistered
One clinic is owned by a philanthropist UHNWI. It's a non profit organization. So he doesn't require me to pay overhead. I work there on Fridays. We also do rounds as a multidisciplinary team and I get paid for that time at rounds.
The other is work I do own time own target. I go to see the patients at their homes. Assessments. So there is no overhead.
The other two clinics I work Thurs morning at the one with 25% overhead and the afternoon for the one with 20% overhead. Some Wednesdays I do telemed from home for the clinic with 20% overhead. I also get clinical assistants to help me review medical records of patients and then preclerk them before I go in to see the patients. Same for telemed they also review history before I call the patients to summarize and close.
Hence I work 2-3 days a week. Plus minus 0-4 of those home visits a week which I do either on weekends or Mon Tues or Wed. I arrange when to see them directly.
From July to Nov so far my gross is $271,058.31 before overhead of $25,130.
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How come the overhead only 10% and how do u account for medicine cost ? How many patient and per patient revenue ? Seemed not plausible.
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01-12-2024, 01:45 PM
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Quote:
Originally Posted by Unregistered
Singaporean here deciding between studying med in UK and singapore. Worried that if i study here may not be able to specialise because of how few specialty training seats there are. Plan is to specialise elsehwherre after medical school and then return to SG to hedge my risk. I am able to afford the UK but ofc would prefer to spend less and invest the money instead if possible. Also, if residency dosent work out and I study in the UK, i can have all the required aesthetics qualification and do aesthetics within 2-3 years of returning to SG but if i study at NTU, i would be in PHI for 6 years after med school due to the bond. Essentially I am asking which is the best option all things considered. The 300-350k difference in cost between the 2 schools, is it worht increasing my chances of being a specialist in sg or entering the private sector 3-4 years earlier?
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Just do local lah
Unless ur uk is oxbridge.
There is a saying 三流四流漂洋过海
Meaning only third and fourth grades kind of students study abroad coz their grades cmi and r local rejects.
Then now if a junior doc, call me for consult
I go to smc to check if he or she is foreign or local train
Will treat nus and ntu nicer.
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