In this episode, retina specialist Dr. Charlie Eifrig joins David to discuss his career path, private practice, private investments, financial decisions and more.
Charlie begins with his background, including what got him interested in medicine and ophthalmology in particular and his exposure to and interest in financial topics, both in college and during medical training. He explains why he took his first job out of training in North Carolina as part of a small growing practice and why he moved across the country to join a practice in Orange County, CA.
Charlie then shares the lessons he learned from an investment he made with other local physicians that went south, involved mismanagement and caused multiple physicians to file for bankruptcy.
Charlie outlines what he sees as key factors in growing a successful and rewarding medical practice, including how to hire the right incoming physicians. Next, Charlie and David cover Charlie’s experience with investing in private companies and using professional advisors, and what he has learned so far.
Charlie concludes with his one piece of advice for fellow physicians.
What You’ll Learn:
- What interested Charlie in medicine generally, and the ophthalmology/retina specialty specifically
- Why he chose economics for his college degree and his exposure to finance while in medical school and training
- Charlie’s decision-making process on taking his first job out of training in North Carolina
- Why he left that practice and moved to Orange County, CA
- The circumstances around a surgery center investment that went belly-up and caused many physicians significant financial pain
- What Charlie learned from the experience, especially around due diligence and personal guarantees
- Charlie’s key factors in growing a successful and rewarding medical practice, including hiring physicians
- Charlie’s experience in making investment in private companies and what he has learned from it thus far
- The balance for Charlie of doing-it-himself and using professional advisors
- Charlie’s one piece of advice for fellow physicians