Friday, September 19, 2008

Wall Street sinking, housing in crisis.....What does it mean for us?

The walls are caving in all around us. But stay calm, the foundation is still standing. Don't worry that the foundation is sort of rotten.

My practice is in Manhattan, so I take care of employees at Lehman Brothers, Merrill Lynch, and the former Bear Stearns. For the last few months, the stress and anxiety has been of astronomic proportions. However, none of them saw this incredible collapse coming. The foundations here in NYC have been rattled, and possibly soon all around the world. Will it affect a medical practice? I'm not sure. My practice continues to be as busy as ever. Is medicine recession proof? It seems that it would be, because no matter what, people need medical care regardless of economic situation. What does it mean for the employees of Lehman Brothers? What does it mean for jobs in this country? I'm just in awe of the events in the last few weeks.

For one, I am grateful to be my own boss right now. Regardless of the fact that the solo practitioner gets slammed with taxes (don't we all?), it's still best to be the captain of the ship. No one can fire me, except for myself. And as long as one continues to provide service that sets one's practice apart from the rest, there will be no famine. With stressful times ahead, providing the support our patients need will be of utmost importance.

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