Miscellaneous
Dr. Armin Feldman, like many medical professionals, is driven by a passion to help the sick and injured. After selling his rehabilitation clinics more than a decade ago, he knew he wanted to continue helping others but in a less time-consuming way than as a practicing physician. The answer: consulting attorneys as a traumatic head and brain injury medical expert. This path made sense based on Dr. Feldman’s expertise in this field, which had developed over nearly 40 years from a personal injury lawyer who sent him head-injured clients. Dr. Feldman realized his knowledge of these types of injuries was invaluable. “I have testified as an expert witness, as a medical expert, really more times than I want to remember on behalf of my patients who were either being cut off of their medical care or being offered some pittance of a settlement,” he says. “So I thought, based on all of that, well, maybe what I could do is consult attorneys on any kind of medical question that they had in a case. And that turned out to fill a niche that hadn't been filled — and now, 13 years later, has developed into a new subspecialty of preventive medicine.” In this episode of the Prosperous Doc ®, our host Shane Tenny, CFP® welcomes Dr. Feldman, a psychiatrist and psychoanalyst, to discuss this career transition into consulting work. Besides explaining his system for consultations and how he approaches every new case, Dr. Feldman shares how he’s expanded his business to coach other medical professionals who want to start their own consulting work. He also offers a sneak peek of his https://medlegconlive.com/medleg2021.xhtml (upcoming virtual Medical/Legal Conference), covering various topics about medical legal consulting, like how to operate and market your business. ? Featured Expert ?Name: Dr. Armin Feldman What he does: As the owner of MD Business Consultants, Dr. Feldman consults attorneys in the Denver area on medical questions that arise in their cases and helps other physicians around the country run successful medical/legal consulting businesses. Company: https://mdbizcon.com/armin.feldman/home.html (MD Business Consultants, LLC) Words of wisdom: “The way that I have advised physicians over the years is to do an informal survey of your colleagues. Determine what you think is the average fee per hour for doing medical expert [work] in your community. … Once you get that average, as a medical consultant, you're going to come in maybe half to two-thirds of what the experts are charging.” Connect: https://www.linkedin.com/in/armin-feldman-m-d-07282ba8/ (LinkedIn) ? On the Money ?Top takeaways from this episode ★ An option for doctors who no longer want to practice medicine. We probably don’t need to tell you that medicine is no walk in the park, which is why plenty of medical professionals want to step back from being a clinician at some point. When doctors are done practicing or want to take a step back before retiring, Dr. Feldman suggests looking into medical consulting. It offers doctors an opportunity to continue helping sick or injured people, but with a lower time commitment — you can work as little as 8 hours a week. ★ Consulting requires a great deal of homework. Dr. Feldman admits he doesn’t have a business degree, so much of his business is built on learning from his mistakes. Since 2006, he’s been researching medical cases and working with lawyers. Based upon that experience, he’s able to help other medical professionals perfect the three steps to any consultation work: talk to the attorney, review the medical records, and interview the client. ★ Good consultants teach others to do the same work. Like most medical professionals, Dr. Feldman has a passion for helping others. That’s why he started a coaching business to train other doctors how to make money from consulting. Right now, he’s preparing...