For this episode, we spoke to a Rochester, New York based physician, Jennifer Mogan about a huge source of practice overhead that most of us have never even heard of!
So, who exactly is Jennifer?
Jennifer Mogan is an anesthesiologist who is 15 years into her career. Then she took an amazing turn towards a new side gig while maintaining her clinical work. Pretty impressive if you ask me!
She used the drop in patient volume and down time during the COVID pandemic to learn about a new field. And it is completely unrelated to medicine.
So, she has educated herself about Payment Processing, which is something me and Vijay were clueless about. Turns out, it is a huge source of hidden practice overhead for doctors. And a HUGE area for potential savings.
As it happens, both Vijay and I use this service in some form or the other in their practices. But we were completely unaware of the details.
Moreover, Jennifer has added this side gig as an account executive for an all-woman run payment processing company, Park Place Payments, and adds to her own income while educating many medical practices.
This episode provides important details about an almost hidden expense that affects the bottom lines of most doctors – certainly those that accept credit card payments in their offices.
So, pay attention to the details and go home and dig into your own practice’s arrangements with their ISO (know what that is?). You may save a few thousand bucks!
You can also get a free “check up” for your practice with Jennifer, exclusive to our listeners and readers, by using this link.
Physician Side Gigs to Make You Passive Money
Finance Flash Go! Episode #29: Is a Physician Side Gig Right for You?!
How to Make and Save Money as a Resident Physician
Is It Stupid to Chase Passive Income as a Resident?
Doctors and Dollars Episode #7: Starting a Non-Clinical Career with Doctor MBA
Doctors and Dollars is a joint venture of DocSupp and The Prudent Plastic Surgeon. I really hope that you are enjoying the podcast! If you do like it, please subscribe on any major podcast platform and give us a 5-star rating to help us spread our message!