He doesn't have any of that overhead. He is just one person in an office. No receptionist, etc.
His overhead without the employees is going to be between 120,000 and 200,000.
Just transcription is going to be about 15,000. Rent is going tobe about 30,000-100,000. Office management software will be about 20,000. Basic X-ray will be about 30,000. Malpractice varies but for a basic FP about 10,000. Medical offices usually use special garbage collection for the red bags. Janitorial service. General liability/business insurance. Phones, lights, water. Upkeep of equipment. Maintaining basic medical and office supplies. Security system.
"Just a person in an office" does not mean no overhead.
When I was in private practice I cleared less than ten cents on the billed dollar. Things are worse now and I can see how this could be a survival strategy for a few motivated docs, but they will work their tails off for a very modest income.
I left private practice ten years ago. I was briefly tempted to return last year until I crunched the numbers.