08
Apr
13

Doctors are just like you and me – broke

More and more doctors are finding it harder to keep their practices financially sound with some crumbling under cash problems and being pressed into bankruptcy. It’s a trend that’s multiplied recently.

Doctor

Chapter 11 bankruptcy filings by physicians have increased recently, which was virtually unheard of for medical practices in the past.  And the bankruptcy trend is not coming from medical malpractice lawsuits as one may think. The weak economic times have killed some doctors’ revenue, as consumers cut back on trips to their physician and profitable optional procedures.

Doctors also blame reductions in insurance coverage expenses, changing rules, and the rising costs of negligence insurance coverage, medication and other company requirements for making it more complicated to keep their methods profitable.

As insurance payouts and other revenue streams have slowed, doctors’ fixed overhead remains the same or continues to increase, such as with insurance premiums.  So despite the fact that we think all doctors (and lawyers too!) and swimming in money, the continued poor economic times continue to affect all walks of life in unprecedented ways.

If you are in a financial bind, please contact us here or at 619-800-3082 to discuss your options.

The Zarcone Law Firm

Advertisements

0 Responses to “Doctors are just like you and me – broke”



  1. Leave a Comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 35 other followers

The content found on the financialfreshstart Blog is not legal advice and is purely for informational purposes. The Zarcone Law Firm does not guarantee the accuracy, integrity or quality of submissions. The information provided by the bloggers on this site may not represent the opinions of the Zarcone Law Firm or its affiliates. The information contained herein is not a substitute for the advice of an attorney.

lawyer blogs

Avvo - Rate your Lawyer. Get Free Legal Advice.

Tweets from The Zarcone Law Firm


%d bloggers like this: