While many physicians are flocking to the more stable hospital employment, Rajiv Sharma, MD, is turning the other direction.
Dr. Sharma, founder of Digestive Health Associates in Terre Haute, Ind., joined Becker's to discuss his commitment to independence.
Editor's note: This interview was edited lightly for clarity and brevity.
Question: What will attract the next generation of physicians to private practice?
Dr. Rajiv Sharma: This is the best time in history to be self-employed and be your own CEO. CEO of your life, own your book of business and manage your time. Time is money. Technology and social hyper-connectedness has opened avenues for doctors to promote themselves to the end-consumer of their service, that is, patients. Staying independent and using technology to enhance access to you is the focus.
The ones who want to stand out and be found will enjoy the glory. The ones who want to live in obscurity will get abundant opportunity by being victimized at the hands of employers and employer-minded practices. Being private means being the king of your castle. Either you own the castle or rent it. The outside-the-box, networking-friendly and open-minded doctors will bear the fruit of success and happiness. Twice, I had walked away from highly lucrative employed opportunities due to suffocating toxic behaviors of my employers and fellow physician colleagues. By being independent and by factoring in tax benefits of a business, you can enhance your effective income by 1.5 times. I'd rather rule in hell than be a janitor in heaven.