Are you a dermatologist who is unsure of what type of medical setting you wish to practice in? The modern dermatologist looks for a medical setting that best aligns with their professional goals, personal needs, and core values. A solo practice refers to “a practice without partners or employment affiliations with other practice organizations” (American College of Physicians, 2021). In other words, the dermatologist is fully independent and controls all aspects of the practice. Settling on your ideal medical setting is as big of a decision as most of the ones you will make in your dermatology career. This article will present the features, advantages, and disadvantages of working for a solo practice.
In 2019, 21% of all dermatologists were solo practitioners (AAD, 2020). One advantage of a solo practice is the dermatologist’s full control, along with the ability to build a unique brand and patient base. When working alongside a staff you haven’t had a hand in selecting, their performance is largely outside of your control, and could negatively affect your practice’s ratings, and thus, your income. Such is not the case when you can directly oversee the staff you’ve hired yourself, from fellow physicians to the front desk secretary.
If you choose to run a solo practice, you’ll also get to decide on the number of patients you see, and how much time is spent with each patient, resulting in a reasonable work-life balance (Nataloni, 2019). There is more time to focus on patient care, and the added bonus of designing your own schedule. Running a solo practice often leads to greater job satisfaction, as the owner controls their practice’s future growth and strategic planning. According to Dr. Erum Ilyas, owner of Montgomery Dermatology in King of Prussia, PA, “I’m very satisfied, and I think a lot of it has to do with being able to practice medicine the way I want to” (Rose, 2020).
As with every decision, a dermatologist must look at the pros and cons of what medical setting is best for them. Running a solo practice also requires significant starting capital, as well as more time, as you research every decision that will affect your business. The competition, compliance with regulations, and quality standards all serve as disadvantages here, on top of maintaining your practice’s general upkeep.
Although there is the aforementioned positive work-life balance to look forward to, do not expect this when first starting out. Building your own brand means building a patient base from scratch, so you’ll be pouring plenty of your free time into putting your name out there. If you’d like to expand your base, you can also expand the practice by hiring another physician; of course, this will further set you back financially before the help can pay off. And that’s not to mention the price tag of staying up-to-date with the latest equipment and procedures, or the cost of the building itself. It may take a few years of investing much of your own time and money, but if you take the right risks, it will pay off.
At the end of the day, flying solo is the right choice for a dermatologist who knows they are committed to making their practice their life’s work. There is more freedom and more money to be made, but it will require business and marketing know-how to run up that hill — or at least enough starting funds to hire someone else to handle these aspects for you.
