Step into my office: full-service clinic owner grows her practice despite partner's exit.RUNNING A COMPANY IS DIFFICULT enough, but when a partner walks away with dozens of clients and opens a similar practice just down the road, the situation can get downright daunting daunt tr.v. daunt·ed, daunt·ing, daunts To abate the courage of; discourage. See Synonyms at dismay. [Middle English daunten, from Old French danter, from Latin . That's exactly what happened to Tara Long Scott, DPM (Documents Per Minute) The number of paper documents that can be processed in one minute. , president of the Foot and Heel Pain Institute of Michigan. But rather than sit back and watch her new competitor take away market share or spend years embroiled em·broil tr.v. em·broiled, em·broil·ing, em·broils 1. To involve in argument, contention, or hostile actions: "Avoid . . . in a lawsuit, the 37-year-old podiatrist Podiatrist A physician who specializes in the medical care and treatment of the human foot. Mentioned in: Shin Splints podiatrist rebuilt her company using good old-fashioned business tactics. In 2002, Scott purchased 50% of the Southfield-based podiatric care clinic from the doctor who hired her as an associate in 1999. Open three half-days per week and bringing in about $470,000 in annual revenues, the practice specializes in conservative and surgical management of just about any ailment related to the foot or ankle. Patients, who range in age from 3 months to 106 years old, come to the clinic to cure everything from bunions and fungal nails to broken bones and tendonitis tendonitis /ten·do·ni·tis/ (ten?do-ni´tis) tendinitis. ten·do·ni·tis n. Variant of tendinitis. . The practice, located in a medical building attached to Providence Hospital, benefited from Scott's entrepreneurial spirit. "I made an effort to network, meet doctors, and interact with people who could give me referrals," says Scott, who held seminars and lectures and participated in health fairs. Although Scott's partner sold her the rest of the clinic in January 2006, he opened a new podiatry podiatry (pōdī`ətrē, pə–), science concerned with disorders, diseases, and deformities of the feet, also called chiropody. Podiatrists treat such common conditions as bunions, corns and calluses, and ingrown toenails. clinic eight miles away--taking with him 10% of the original practice's client base. "I didn't protect myself like I should have," laments Scott, who feels she could have solicited help from an attorney who specializes in medical practice buyouts. A noncompete clause noncompete clause Medical practice A clause in a contract in which the provider of a specific service, commonly understood to be physicians in private practice, agrees not to practice medicine–ie, compete–in the same geographic region–the size of , for example, could have been used to ensure that the former partner didn't leave with her clients or open a similar practice in such close proximity. Scott refused to allow unethical business practices to derail de·rail intr. & tr.v. de·railed, de·rail·ing, de·rails 1. To run or cause to run off the rails. 2. her. Instead, she relied on her established reputation as the only black female doctor board certified board certified, adj the status of a dental specialist such as an orthodontist who has become a board diplomate by successfully completing the certification program of the recognized certification board in that area of practice. in podiatric surgery in the Greater Detroit area. A graduate of Ohio College of Podiatric Medicine The Ohio College of Podiatric Medicine is a four-year, private college in Cleveland, Ohio's University Circle. It teaches students to become podiatrists and has done so since 1916, having educated some 5,000 such students to date. , Scott became the first African American elected chief of podiatry at Providence Hospital last year and was also appointed by the governor to the Michigan Board of Podiatric Medicine and Surgery and the Controlled Substances Advisory Commission. Both appointments raised awareness of Scott and her practice. "I got 25 new patient calls the day I made the front page of the Michigan Chronicle," she recalls. "That more than made up for the 10% that he took" With 11 employees, including two other podiatrists, the clinic posted revenues of $1.36 million last year and is on track for about $1.4 million in 2006, says Scott, whose marketing strategy includes carving a niche in the diabetic foot care and education arena. Through lectures, seminars, and health fairs at local hospitals, for example, she pushes the benefits of good foot care for diabetics while building her client base through doctor and patient referrals. Scott looks forward to putting 2006 behind her and building a practice through participation in projects that increase community awareness of diabetic foot care and associated complications. "A high percentage of our African American community is affected by this disease," says Scott, who plans to open a second office in the near future. "I'd really like to do more to help them deal with that." Foot and Heel Pain Institute of Michigan; 22250 Providence Drive, Suite 302, Southfield, MI 48075; 248-557-6500; www.footandheel.com |
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