James Baldwin DPM:
With all the chatter, I figured I should speak on behalf of Achilles Foot and Ankle Center, Inc. We are a 15 provider group with 10 DPMs and 5 Nurse Practitioners. I started the practice right out of residency seeing less than 45 patients a week. I hustled to do anything I could do to continue to grow including seeing patients for free at one of the 9 local hospitals to getting on my hands and knees to cut toenails at nursing homes. The hard work and dedication has allowed me to build a practice of 12 (soon to be 15) locations, an office based ASC , and much more. We offer every single aspect of podiatry from diabetic foot care to IM pantalar fusions. At 36, I dedicate my life to my practice because I feel that my employees are my family. I practice a 33/33/33 percent rule meaning the corporation (me) gets 33% (gross), 33% is used for overhead, and 33% goes to the provider (that’s gross). So, if a provider produces 1 million, they walk home with $333,000 plus all health care insurance, vision, dental, a dollar for dollar match on their 401K, and starts at three weeks of vacation. We turn no patient away regardless if they do not have insurance as I feel everything comes back full circle in life. I treat people well, I stay on top of LCD policies, insurance contract changes and I am not afraid to fight for what is fair and right. I wish all practice owners could do this for the profession and their employees. Lastly, one piece of advice, never take a loan to expand. I put all of the money back into the practice after my salary. I have never approached a DPM to buy their practice; they all call me and I offer a very fair price as they have dedicated their life to help improve the profession for all of us. Lastly, because our practice is so well rounded with podiatric medicine, advanced wound care, all DME including wound care DME, and the most advanced technology, we can market and continue to expand as a comprehensive practice. We call ourselves PODIATRISTS which encompasses podiatric medicine, wound care, sports medicine, and podiatric surgery. We have one provider that only wants to perform geriatric care and covers 27 nursing homes and assisted living facilities with a team of four. That means no associate has to do nursing homes or AL with the exception of the one DPM that requested we continue this division (in the end, that division pretty much breaks even but it provides employment to 5 individuals who love their job). This leads to a company of 15 generating 35-45 million per year in gross revenue and some of our providers take 7 figures home and work 40 hours per week. So, fight for your worth, join an advanced practice that wants to take care of you and your family. These mega groups and venture capitalist just take you for a heartbeat and your hands to practice. Most care less about you or your family. If anyone needs any advice feel free to reach out to me
[email protected].
Regarding our $300k job posting, that location is on the water of the Chesapeake bay and it is absolutely beautiful. The practice is low volume surgery so it takes a person who loves podiatric medicine, wound care, and DME. That location generated our company 2 million last year, which is why I know the person who accepts the position will make much more than $300k. You can ask any of my employees, they are treated fairly and compensated well. At the end of the year, our lowest salary of a DPM is around $525,000 and our highest is $2.6 million (this is not me, that is one of my associates). I do not practice any longer as I have to focus on controlling quality, compliance and continued growth.
In the end, we only can enjoy our profession if we respect each other which not only comes in terms of words and action but also by fair compensation.
Achilles Foot and Ankle Center, Inc.