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Category Archives: Business Opportunities

Cannabinoid Medicine’s rapid success through continued growth

There is a lot of talk in the media these days about Medicinal cannabis and how successful these clinics might be.  Canada’s largest and most reputable is Cannabinoid Medical Clinics (CMC); headquartered in Toronto this clinic has, in the past 10 months gone from one clinic in downtown Toronto with two physicians to 6 clinics with upwards of 25+ physicians from Edmonton, Alberta through to St. John’s, Newfoundland with further expansion of another 6+ clinics in the remainder of 2016.

It is CMC’s mission to continue providing the same education, experience and quality patient care nationwide that has become synonymous with their name in this rapidly growing market.

Through the hard work and perseverance of the entire CMC team over the last year, CMC Toronto has become the largest and most preferred cannabinoid medical clinic company in the country.  In the month of March alone, they had a record of over 1,000 patient visits.

With this increased focus on supporting growth through quality systems, protocols and an excellent standard of patient care across the country, there is every reason to believe that CMC will continue to see exponential growth both organically and through strong partnerships.

JOB POSTING: Family Physician (Practice rent-free for the first year)

JOB TITLE: Family Physician – Practice Rent Free for 1st Year
DATE POSTED: 09/02/2016
SPECIALTY: Family Medicine / GP
LOCATION: Canada
STATE/PROVINCE: ON

Family Physicians required for busy location in Mississauga. This is a newly renovated 2,000 sq.ft facility with 5 exam rooms, 2 washrooms, large reception and waiting area. Plenty of free parking for patients and staff. Patients can also access by bus as clinic located at major intersection.

Owner is offering first year rent free, then $1,500/month thereafter, including heat and hydro. Move your existing practice or establish your own at this prime location. If you prefer a turn-key set-up, owner willing to equip 2 exam rooms, hire office/medical assistant in return for a very low split arrangement. Immediate occupancy.

Suitable candidates must hold or be eligible for a full independent license in Ontario (CCFP & LMCC). In accordance with immigration requirements, preference will be given to Canadian Citizens and Permanent Residents.

Interested candidates, please contact: Hedi Cameron, Regional Manager, CanAm Physician Recruiting Inc. Office: 647-883-7185 E-mail: hcameron@canamrecruiting.com

Job opportunities abound for rural physicians in the U.S.

CanAm perspective: They say history will repeat itself, and CanAm is predicting another serious “brain drain.” The Canadian dollar dipping below 70 cents U.S., the high Canadian taxes, and the serious threat from the newly-elected Liberal government to eliminate professional corporations is providing the perfect storm for Canadian physicians to move south.

 

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This may be an excellent time for Canada-based physicians to move their career south of the border. The Association of American Medical Colleges reported that the U.S. is expected to face a serious physician shortfall by the year 2025 — lacking between 46,000 and 90,000 physicians.

The situation is going to be especially dire in rural areas where just 10 per cent of physicians live to serve more than 20 per cent of the country’s population. It’s been particularly difficult for these areas to recruit and retain primary care physicians, emergency physicians, oncologists, cardiologists and surgeons.

According to the survey, rural doctors are retiring and new medical school graduates are completing their residencies in cities across the U.S. They’re comfortable with the advantages that come with living in a city, and moving to the country to open up a practice doesn’t seem as desirable.

Since physicians who grew up in small towns are more likely to practice there, medical schools are leveraging that by attempting to recruit students from areas with a physician shortage. Many schools are also introducing preceptorships or rotations in areas in desperate need of more physicians.

H/T Hospitals & Health Networks Magazine

JOB POSTING: Family Medicine / GP

Family Physician – Wellpoint Health – Calgary, Alberta

WellPoint Health Ltd. operates the Wellpoint Chaparral medical clinic (located at Suite 2110, 1800 – 194th Ave  SE, Calgary, Alberta T2X 0R3) and the Wellpoint Edmonton Kingsway medical clinic (located at Suite 303, Kingsway Mall, Edmonton, AB, T5G 3A6), and is seeking Full-Time and Part-Time Family physicians to join their team; Physicians also have the opportunity to provide primary care to patients at both clinic locations.

Job Duties:
The physician will be providing primary care to patients of the clinic, including diagnosing and treating medical disorders, interpreting medical tests, prescribing medications, and making referrals to specialist physicians as appropriate.

The terms of employment:
This is a Permanent, Full-Time, Fee-for-Service position.
Physician and the Clinic will share fee-for-service billings, 70% (physician) / 30% (clinic), for overhead expenses. The split increases in favor of the physician based on volume. Wellpoint also a offers negotiable signing bonus, and offers “turnkey” office arrangements with Electronic Medical Records (“EMR”) in place.

Education/Professional Qualifications Required:
Medical degree; the candidates must be eligible for registration with the College of Physicians and Surgeons of Alberta and Canadian College of Family Physicians (CCFP) certified or eligible. Preference will be given to Canadian Citizens and Permanent Residents.

Skills Required:
Education and work experience in a medical field profession as a physician with specialist training in Family Medicine; Several years’ experience as a family physician is preferred; Ability to work effectively, independently and in a multi-disciplinary team; effective written and verbal communication skills.

About Wellpoint:

Wellpoint Health has been recognized by Profit 500 as one of the fastest growing businesses in Canada. We are a leading provider of family medicine and health and safety services with 14 locations nationally and provide a full range of workplace services including Medical Assessments, Disability Case Management, Wellness, Prevention and Compliance programs.

In Alberta, Wellpoint is one of the longest standing vendors to be designated as an Occupational Injury Services (OIS) provider by the Workers’ Compensation Board with clinics in Calgary and Edmonton.  Family medicine has always been a significant component of our clinic in Alberta and we are looking for physicians to join our talented team.
Wellpoint has assembled one of the industry’s premier occupational health teams comprised of physicians, nurses, and technicians, in order to deliver consistent, high-quality service directly to over 200,000 patients, and help our clients realize significant savings with respect to employee health, through reductions in lost time and disability claims.

Interested candidates please contact:
Phil Jost, HSM, MBA
CanAm Physician Recruiting Inc.
Toll Free USA/Canada 1-866-446-4447
Office: 902-439-3400
Email: phil@canamrecruiting.ca

In order to apply for this job you must be an approved registered doctor and logged in.

CSI Inc. helps physicians cut through red tape

A job in a new licensing board is within your grasp, and the only thing standing in your way is a few pieces of paper.

Trish Dehmel, Director of CSI Inc. in Halifax, says her job is to help physicians cut through the red tape — allowing them to obtain those documents quickly and easily.

“It can be hard for individuals to contact the right people in some countries — or even to know who to contact — and how to get them to take you seriously,” says Dehmel. “Providing criminal checks is not a priority in some foreign countries, and so they may not attach as much importance to providing the results as we do in North America.”

In some instances, records are centralized to the region in which they lived, searches cannot be conducted nationally, and data may only be obtainable for the past seven years.

A former federal police office, Dehmel knows the industry inside out and has been helping healthcare professionals navigate the system for the last decade.

CSI employees work with healthcare professionals, hospitals, private clinics, and licensing colleges in order to simplify the process of obtaining police clearance checks and certificates of conduct.

The requirements are different for each licensing board. In Nova Scotia, for example, a new physician needs a criminal records search to satisfy the requirements of the College of Physicians and surgeons. If they plan on working for Capital Health or the IWK Health Centre, they will also need a search of the pardoned sex offender database, which requires a set of fingerprints and takes about two weeks.

But it’s not always as easy as it sounds.

“We often work with physicians who are in Canada and apply for a job within a new board, and the board says ‘Well, you worked in Saudi Arabia, so you need to provide a criminal record check from Saudi Arabia,’ or ‘You worked in four different U.S. states. We need checks from all of them,’” explains Dehmel. “That’s where we can help.”

In many cases, a criminal record search can be ordered on CSI’s website using a system called e-Consent. You’ll be asked five “out of wallet” questions about things that only you would know, and answering correctly allows the system to verify your identity without a passport or fingerprints.

While many people still refer to the “vulnerable sector check” that was in place prior to 2009, Dehmel says it’s now a search of the pardoned sex offender database. It involves using fingerprints to ensure a person is not listed in the sexual assault database under any name, in any province. CSI has a portal service with the College of Physicians and Surgeons so the results are reported directly to them.

Dehmel says healthcare professionals are welcome to call CSI with questions about the process, and they have resources and contacts in most countries around the world.

“We provide fast, efficient service, and make the process easier for professionals who need these documents,” says Dehmel. “We’re here to help.”

JOB POSTING: Pediatrics

Rare Opportunity to Purchase a Private Multi-Specialty Pediatric Practice

Job ID: 953

LOCATION ON, Canada PLACEMENT Permanent
START DATE 2015/06/30

Overview & Scope

This is a rare and exceptional opportunity to purchase a Private Multi-Specialty Pediatric Practice in Toronto, Ontario that has built up a strong and thriving practice over the past ten years. The scope of practice includes:

  • General Pediatrics
  • Allergy Clinic
  • Eye Clinic
  • ENT Clinic
  • Foot Clinic
  • Asthma Clinic
  • Travel Clinic

Located in the metropolitan city of Toronto, Ontario and next to a community hospital, X-Ray center and pharmacy. Ten year lease in building.

No calls or hospital attendance required.

Income Potential

Gross billings for General Pediatrics is $950,000 – $1,000,000 annually. Revenue from other services covers all operating expenses thereby generating a net profit around $1 million annually.

View the full job posting here. 

Physician’s Maximizing Cash Flow and Reducing Debt as an Incorporated Professional

Article by: David Bluteau and Darren Caseley

Do you know the secret to financial success? Maximizing cash flow & reducing your debt as an incorporated professional. Getting there is within your reach if you know the steps to take.

You already know the golden rule of financial success – “spend below your level of income”. Easy enough to understand. The tough part can be putting it into practice as we all live our lives.

The really good news – Incorporated Professionals can get a Turbo Boost in this department, meaning more dollars stay in your pocket. And everyone’s situation is different, so you must first discuss these strategies with your own tax professional or Chartered Accountant to ensure they make sense for you and your family.

Most physicians see a similar path: finish residency, start your practice, incorporate, pay down student debt, pay down the mortgage, start saving – then retire wealthy, healthy and happy. Seems simple enough… so are you ready to do it?

You may know the book The Secret, by Rhonda Byrne. In a nutshell it discusses the process of focusing on the things you want in life to achieve success. The problem is: The Secret only gives you half the picture.

Yes, you have to establish goals and priorities however you also have to DO something to realize those goals: TAKE ACTION. The “doing” part may be unique for everyone, but know this: Inaction will yield few results.

Start with the end in mind. Look at the goals you want to reach. Thirty-something aged physicians often have two immediate goals – paying down debts, and keeping taxes low.

Let’s address these two important challenges:

  1. Goal: keep your taxes low. A good tip – keeping your taxes low is a no-brainer to keeping more cash in your own pocket. Earning income as a “company” rather than as an “individual” can go a long way to making this happen. The bottom line is this – your personal corporation is taxed at lower rates, and then gives you flexibility on how to withdraw your personal income from your company.
  2. Goal: reduce your debts fast. A good tip – there is a right way and a wrong way to eliminate your loans and your mortgage. It’s not always just about a low rate, and pre-payment options. Your advisor can compare all-in-one programs to see how you could benefit, and potentially supercharge your debt-elimination. Many have the potential to save tens of thousands. Only selected banks have true all-in-one programs.

The overall theme here: Maximizing cash flow comes down to reducing the amount of taxes you must pay. As a professional in Nova Scotia, this is one of the main challenges you face: How do you structure your practice income to minimize taxes?

Your tax accountant and investment advisor should always help guide you, and you should judge the caliber of their advice by how well your income is planned and implemented. All too often, professionals feel like they have been left on their own to manage this very important task.

Here are three effective strategies to move you toward your goals:

  1. The “No RRSP” Option

Consider drawing income from your Medical Company (Medco) only in the form of dividends. Do not take any salary. Dividends receive preferential tax treatment. Your average tax rate will be lower, your estate has the potential to save significant taxes, and both you and your Medco will not be required to pay into the CPP. Without salary income, all retirement savings are retained in your Medco, not RRSPs.

This strategy will not be for everyone: You must be a responsible saver, and your Family Trust must be structured for discretionary distributions. Call us for a cost/benefit analysis to see if this is a fit for you. There are variations on this strategy that could work as well.

  1. Income Splitting

Reduce taxes further with income splitting. Adult family members, such as your spouse or your children, can be made shareholders of your Medco and they can receive discretionary dividends. This could provide additional savings for your family. For example: your spouse or a child in university with little or no other income could receive dividends, and take advantage of a lower tax rate. As well, if a family member does bookkeeping or other work for your practice, then consider paying them a reasonable salary. Discuss what is “reasonable” with your accountant.

  1. Income Planning

As an incorporated professional you have choice in how you draw income: salary, dividends, or even withdrawals from personal investments. Properly structuring your cash flow is the key ingredient to tax efficiency. You should know the best method to take income from your Medco.

No matter what – remember this: Primum non nocere: First, Do No Harm … and do no financial harm to yourself!

A high income does not automatically lead to wealth!

All physicians have their own story of why they became a doctor, and most have the same common theme – a desire to help others or to give back to medicine.

It takes discipline and dedication to become a doctor. At some point you set this as a goal in your mind, and you followed the required steps to achieve that goal. You had a plan.

So, why do so most physicians not have a plan for their financial future?

Author and researcher Thomas J. Stanley in The Millionaire Next Door gives us the following facts about physicians:

  • You dedicate huge amounts of time to serving patients (most work 10 hour days).
  • You are generally unselfish, giving a higher percentage of your income to noble causes than other high-income earners.
  • You do earn higher than average income.
  • However, physicians in general do not tend to be wealth accumulators.

A high income does not automatically lead to wealth. This is a fact!

The problem is: Your focus is on medicine – as it should be. Taxes, wealth goals, investments, cash-flow, CRA, etc.; Delegate these tasks to an advisor you trust, with experience in working with incorporated professionals to assist you.

Take a look at your plan. Do you have a written plan? Do you have clearly established goals? What is your time-line? How are you measuring your financial progress? If your investment returns are poor, have you been shown how this will impact your investment plan and your goals?

If you hesitate in answering these questions, you can call or email to participate in a Private Cash-Flow Strategy Session; a personal session where you will:

  • Uncover obstacles that are limiting cash-flow today.
  • Identify key strategies to maximize cash-flow.
  • Create an action plan to help you reduce your debt costs, minimize taxes, & increase your net-worth.

Maximize your cash flow by using these, and more, benefits of an incorporated practice.

The Bluteau DeVenney Caseley Wealth Management Group of National Bank Financial

is the Family-Office for Incorporated Physicians.

www.BluteauDevenneyCaseley.com

Virtual healthcare programs growing rapidly

Telehealth services are still relatively new and controversial. There’s no denying the convenience of seeing a doctor virtually — no sitting in a waiting room, or even leaving the house — but there are also questions about the quality of care that can be obtained through a screen.

But these programs are gaining traction throughout the U.S. and Canada as patients and physicians look for new, better ways to connect. In Vancouver, patients can meet with physicians virtually with the help of a medical assistant who collects vital signs, heartbeat, lung sounds, and other data. The appointments can take place in the patient’s home, or in a nearby telemedicine clinic, and the physician speaks with the patient in real-time.

Many believe the Veterans Administration telehealth platform to be “the ideal model for telemedicine.” In 2014, they served more than 690,000 veterans through more than 2,000,000 telehealth visits. More than half of the veterans were living in rural areas with limited healthcare, so it make sense for everyone if they could obtain medical consultation virtually.

The telehealth program has a 94 per cent approval rating from patients, and reduces office visits by 34 per cent. It’s especially helpful in mental health cases, as its patients have demonstrated lower scores on post-traumatic diagnostic scales than they did prior to their telehealth sessions.

Despite the glowing reviews, not everyone is intrigued by the idea of telehealth.

Earlier this month, Arkansas rejected a bill that would have allowed physicians in the state to offer video-based care. Opponents claimed patients deserved “face-to-face” medical care, and there is still a bill under consideration that would allow telemedicine services after an in-person meeting between a doctor and patient.

The American Telemedicine Association is starting the process of establishing accreditation standards to ensure consistent service and a high standard of care. They are also working on establishing a national licensing system so telemedicine can cross state lines.

H/T Healthcaredive.com

New doctors choosing part-time practices in southern Ontario

A quickly-growing region of southern Ontario is taking action to attract new family physicians.

Ontario’s Halton Region — which includes the City of Burlington, and the towns of Halton Hills, Milton, and Oakville — has new hospitals opening, and officials say it’s a place both new and established physicians want to “put down roots.”

Halton began a physician recruitment and marketing program in 2003, which has led to 219 family physicians establishing practices in the area so far — 85 in Burlington, 65 in Oakville, 40 in Milton, and 29 in Halton Hills.

Halton officials have identified a trend in physicians choosing to set up part-time family practices — which allows them time to also work in hospitals, long-term care facilities, and smaller clinics specializing in sexual health, sports medicine, or psychotherapy.

Out of the 11 family medicine residents who graduated from the McMaster Halton Family Health Centre, five of them have stayed in Halton to open practices.

Halton is also proving itself to be a popular spot for international medical graduates. Half of the area’s family physicians that have been recruited since 2011 went to medical school outside of Canada.

The area’s need for new physicians is expected to grow over the next two years, as the population booms and existing doctors retire or reduce their hours.

H/T InsideHalton.com

Canadian hospitals profiting from foreign patients raises questions of ethics

Could a for-profit sector that allows foreign patients to be cared for in Canadian hospitals be the financial cure for this country’s cash-strapped universal health care system?

That is the question being posed by a series of programs that have taken place, or continue to operate in Canadian hospitals.

Critics think that treating medical tourists for cash will open the door to a two-tiered system and are calling for a ban on the practise. Others say the money could benefit the system as a whole.

Open the link to learn more – http://www.cbc.ca/radio/day6/episode-225-spacecakes-and-the-supreme-court-nhl-in-vegas-medical-tourism-robert-durst-and-more-1.3001488/canadian-hospitals-profiting-from-foreign-patients-raises-questions-of-ethics-1.3001554