For many physicians transitioning to a cash-based practice, starting a cash practice as a side job feels like a necessary safety net. You might think that keeping a part-time job, such as working in an emergency room or contracting with other clinics, will provide financial stability while your cash practice grows. However, holding onto these side gigs can actually hinder your progress. Here, I’ll share how letting go of side jobs allowed me to fully commit to my cash practice. It allowed me to accelerate my practice growth while freeing me from the shackles native to the traditional healthcare system.
Cash Practice Side Job Security
In the early days of my cash practice, I held onto contracts with emergency rooms because I thought they provided financial security. I wasn’t entirely convinced that my cash practice could generate enough income to support me. The third-party payer system always loomed as a “backup plan.” The problem was that these side gigs took up valuable time and energy. Knowing what I know now, I should have been growing my practice.
Quit Your Side Job and Fully Commit to a Cash Practice
Once I finally let go of my side jobs, my cash practice stopped being a side job and truly began to thrive. By focusing all my energy on building the practice, I was able to put more effort into patient relationships, develop better systems, and improve patient outcomes. It wasn’t until I fully committed to my cash practice that I saw the kind of growth I’d been hoping for all along.
If you’re holding onto side jobs while building your cash practice, it’s time to ask yourself if they’re really providing the security you think they are — or if they’re holding you back. Committing fully to your cash practice will give you the energy and focus needed to make it successful. Take the leap and trust in your ability to grow the practice of your dreams.
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