Interview with Dr. Brook Choulet – 437

In today’s podcast, John discovers that psychiatry offers one of the best opportunities for concierge medicine, and that such a practice can be opened while still in your fellowship.

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Dr. Brook Choulet is the founder of Choulet Wellness and was still in her child and adolescent psychiatry fellowship when she started a thriving concierge practice in Scottsdale, Arizona.

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Dr. Choulet completed her medical degree at the University of Missouri, Kansas City’s rigorous six-year BA/MD program. Then she pursued training in General Psychiatry at the University of Arizona College of Medicine at Phoenix.

Following in the footsteps of her mother and grandfather, she will be a third-generation adult, child, and adolescent psychiatrist. She built her own business during her residency training and began to expand and hire other practitioners while still in fellowship.

How to Establish a Concierge Practice

Brook starts by explaining why she started her concierge practice. Then she explains how she boot-strapped the practice, starting with just one associate, while still in residency. She also explains the basic steps, from forming an LLC to finding her first location to see patients.

Just go for it… If I can do it with very little experience… then I have no doubt anyone can do it at any stage of their career. – Dr. Brook Choulet

We also discuss which other specialties would work best in a concierge model like hers. She runs a cash-only practice and is funding the growth of the business organically. And she explains how this model eliminates most of the headaches of typical employment.

Growing Her Business

Brook has hired therapists and wellness experts to meet the needs of her patients and clients. She started by sharing office space and has now moved the business into a dedicated office. The practice is now expanding to a second location (at the time of the original interview).

Summary

If a psychiatric resident can open a concierge practice, certainly other physicians should explore this type of practice. It generally provides for a more balanced lifestyle that can also be quite lucrative. As the physician shortage grows and insurance deductibles increase, patients will be more willing to use a direct-pay model to meet their healthcare needs.

NOTE: Look below for a transcript of today’s episode.

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