VLOG My Plan To Be SUCCESSFUL As A New Family Doctor... (And Not Go Bankrupt)

Here's what I think every medical resident should do before finishing their residency so that they don't go bankrupt when they become a staff doctor. At least once a week, I still see local reports of family medicine clinics closing down which further contributes to the doctor shortage. I think it's about time we start thinking of new solutions rather than just complaining about it on the news all the time.

#doctor #familymedicine #medschool

Bio:
Hi everyone, its nice to meet you 🤙 My name is Gianluca and I'm a 2nd year family medicine resident in Ontario, Canada. I try to document my experiences throughout my medical training and beyond to hopefully help inspire/guide some other students... and make things more fun for myself :) I post a new video once per week.
Feel free to contact me on YouTube via the comments section if you have any questions.

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(That's all... medical school and YouTube keep me busy enough 😅)

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[nxtgenmd]

Hey everyone, I hope you enjoyed the video / found it helpful :) If you did, feel free to hit the like button and definitely feel free to ask any questions in the comments below. For those of you looking for an itemized list of things to do in residency before graduating to set yourself up for success, here you go:

1. Contract negotiations: Remember that the Canadian national overhead is 27% for family medicine. It is your job to keep your overhead as close to (or even below) this number as possible. If you're going to be signing with a clinic that's quoted you at 40% overhead, then personally, I would probably shop around a bit more first and/or consider moving to a less expensive area. Remember that you can stay firm but cordial during negotiations - especially if you are friends with the other partners. But you need to advocate for yourself. Look up rent/real estate values and ask other doctors about office supplies, employee salaries and overhead for your area
2. Learn how to be a better biller! I will be bringing a professional billing agent onto the channel in a few weeks to share their tips for new staff. Take advantage of time based billing codes where appropriate and don't downplay the value of applicable "out of basket" codes. For areas of billing uncertainty, consult the schedule of benefits and/or ask a billing manager. Remember that the government will NOT chase you if you miss out on your billing... but they will reject your codes if you don't bill properly. So this will take months for you to streamline.
3. Review your contracts and overhead costs with your lawyers and accountants. We get free accountant support during residency through our school, but I don't know if this applies to other programs - be sure to check with your co-residents
4. Try to sign somewhere with a signing bonus. Having an extra $50, 000 on hand will be necessary to help with initial start up fees and your college dues which will be very expensive.

Good luck and see you next week!

[NeValaiDuraka]

Man, I just want to say a huge thank you for all the videos you've made, I'm so inspired by your story!!🙏

[azkairfan]

Great content!
Could you pls do a video of what clinical skills you have learnt during your FM residency & which skills you consider an independent family practitioner cannot survive without in Canada? It’ll be very helpful for internationally trained physicians hoping to work in Canada. Training programs in different countries may focus on different areas depending on the population needs. It’ll be great to have a comparison and to prepare in advance for those who are looking to immigrate and take the PRA path to practising FM in Canada. I love how you simplify relatively complex topics, would love your take on this!
:)

[AbdulAli-kuhe]

Thanks for the useful info. and all the best!

[ovimed]

I'm from Quebec and I'm currently in my 4th year of med school in Ireland and as an IMG I can't even come back home for residency unless I wait 1-2 years, which ofc is not possible due to huge interest on student loans and other factors (same thing for Alberta). In addition to this, they have between 50-100 unfilled residency spots every single year in FM. I actually want to do rural FM and this is really mind boggling to me the amount of barriers and hoops we have to jump through. Most of my classmates don't even want to bother with Canada and just go to the USA where they are welcome with open arms, no return of service, and are given generous loan forgiveness programs... They need to make it easier for Canadians studying abroad to come back in the future, especially those from Ireland/UK/Australia where even the CFPC recognizes fully the residencies and board certifications! They are loosing thousands of talented doctors to other countries. There's more demand of Drs than there is supply so naturally they will go wherever they have the best conditions.

[joannaigo]

Thank you so much for this! I enjoy seeing the transition from residency through your lens. More videos please! Do you have any resources on billing?

[jeanetteraichel]

Too bad that the provinces don't cover overhead expenses. They could give tax credits for your equipment abd supplies and a percentage of the rent/mortgage. It would mean more would follow in and take family medicine because the province will help. All the no match for other specialties should be OK with family medicine because it what they went to school for to practice medicine

[nadeenm]

Congrats on completing your residency. Will you be setting up in the Niagara Region? My husband, daughter and I are looking for a family doctor.

[HINTS]

Hey, love your videos as always. I was curious about two things. (1) Whats your motivation to do the USMLEs as it seems youre setting up practice in Ontario? (2) Other than the USMLE, whats required to practice in the states from our 2-year vs their 3-year program

[chuksezeike]

Thanks a lot for this video. What happens when the clinic receives excess money from the doctors? Take for instance a clinic with 6 doctors paying 25% overhead, the clinic will certainly have some change after paying the overhead. What happens to the extra money?

[Manuel]

How was your step 3 usmle ? Would you like to do another specialization in USA next match season ?

[messimagisterial]

I want to be a Canadian family medical doctor Inshallah.

[messimagisterial]

Hey Gianluca I haven't studied for the mcat yet but how do u think it compares to the step exams?

[gourabsarker]

Sir when will you graduate from residency program? Plz reply. Thanks a lot.

[mairajamal]

Hello sir, can you please guide as an IMG from Pakistan do we even stand a chance to get into FM residency in canada after taking exams ... If possible can you please make a detail videos ... I havent seen many img graduates coming to canada as for USA

[gourabsarker]

Sir how much do you expect to earn as an attending family physician after residency program? Plz reply. Thanks a lot.

[Zacs]

Do you work with UK trained FM Drs? Im a newly qualified GP working in the UK looking to move to Canada