One look at my office tells you that I’m still taking Medicare patients: The worn carpet and peeling paint give it away.
In the 80’s I was offered a job in NYC making $200K a year. Where I live that would have been a fortune. After looking into the cost of life and the quality of life, I told the guy I wouldn't move there for three times as much.
Why people continue to endure that place is beyond me.
I think you are wrong. I make about 130,000 before taxes. I billed 425,000. I see alot of patients. We had to borrow money to make pay roll for the first time in 30 years this month. Our overhead has gone from 54% ten years ago to 73% over all.
With that $200k/$300k/$400k he has office staff to pay... at least one RN, in NY, most likely no less than $50k. Then he needs a receptionist/scheduler who likely does double duty pulling and filing his patient charts, in NY, probably $30k. And thanks to the onerous federal regulations imposed on him for the privilege of participating in Medicare program, he also needs a staff member knowledgeable in coding and compliance regulations, in NY, probably as much as it costs to have an RN, $50k.
Maybe the RN does his patients' blood draws, too. If not, he needs a med. tech. to do that and the height/weight/BP stuff, and that would cost him another $30k.
And with all the money left over, he would need to pay his rent, utilities, liability/malpractice insurance, staff benefits (med. insurance, workmans comp., Social Security, etc.)
Hell, he should be rolling in the dough.
(/sarc.)