Dr. Toya Coaching

View Original

Breaking Free from Golden Handcuffs: A Physician Mom's Journey to Entrepreneurship

August 21, 2024

As Physician moms, we often find ourselves trapped in what I call "golden handcuffs" - lucrative positions with excellent benefits that keep us tethered to unfulfilling or toxic work environments. My journey from corporate medicine to physician entrepreneurship taught me valuable lessons about self-worth, negotiation, and the power of mindset.

The Burnout Spiral

Working as a full-time OBGYN in a large corporate medicine group, I experienced the familiar signs of burnout. My office was poorly managed, with a particularly difficult office manager who seemed to have it out for me. Despite the challenges, I clung to the idea of staying put. The benefits were excellent, and I was on track for partnership. My plan? Get pregnant, take advantage of the generous maternity leave, and never return.

But burnout has a way of accelerating once you realize there might be a way out. I found myself having thoughts I hadn't experienced since residency - wishing for a minor car accident just to avoid going to work. It was a stark reminder of a promise I'd made to myself years ago: to never be that unhappy again.

The Turning Point

My perspective shifted dramatically when I joined a business coaching program led by Dr. Una, a physician entrepreneur. Her message was clear: physicians can and should practice medicine on their own terms. Through this program, I began to truly recognize my value as a physician.

The realization hit me like a ton of bricks: I am the revenue generator. Without physicians, the entire healthcare system crumbles. This newfound belief empowered me to see beyond my current situation and recognize that I had options.

Taking the Leap

The decision to leave my job came suddenly. I was about to go on vacation, and I knew if I returned home, I couldn't face going back to that toxic environment. With little notice and no concrete plan, I quit.

I took four months off, using the time to get credentialed for locum tenens work. This break also allowed me to get pregnant, aligning with our family plans. When I started doing locums, the lessons from my entrepreneurial journey proved invaluable.


Negotiating My Worth

Armed with the knowledge of my value, I approached locum work differently. I set a minimum hourly rate ($200/hour) and wasn't afraid to negotiate. When a recruiter asked me to come in 24 hours early for a long shift, I countered with a specific dollar amount for the inconvenience. To my surprise, they agreed.

This ability to negotiate and stand firm in my worth came directly from my experience in entrepreneurship. I realized that as physicians, we often undervalue ourselves, forgetting that our skills and expertise are in high demand.

Lessons Learned

1. Recognize Your Value: As physicians, we are the revenue generators. Our skills and expertise are invaluabl

2. Set Your Standards: Decide what you're willing to accept in terms of pay, hours, and working conditions - and stick to it.

3. Be Willing to Walk Away: True negotiating power comes from being able to say no to unfavorable conditions.

4. Explore Your Options: Whether it's locum work, private practice, or non-clinical roles, there are many ways to practice medicine on your own terms.

5. Invest in Yourself: Business coaching or other forms of professional development can open your eyes to opportunities you might not have considered.

The Freedom of Entrepreneurship

The transition to locum work and entrepreneurship has given me unparalleled freedom. I can choose my schedules, negotiate my rates, and even cancel shifts for personal travel without fear of repercussion. This flexibility has made me "unemployable" in the traditional sense - and I couldn't be happier about it.

While my journey led me to locum work, the principles I've learned apply to various career transitions. Your value as a physician translates across multiple spaces; it's just a matter of recognizing opportunities and being willing to explore them.

Remember, you are the prize. Your skills and expertise generate revenue, and you have the power to create a career that aligns with your values and desires. Whether it's transitioning to locum tenens work, starting a private practice, or exploring non-clinical roles, there's always a path to practicing medicine on your own terms.

Together, we can reclaim our lives and transform the practice of medicine. It's time to break free from those golden handcuffs and create the career - and life - you truly desire.

See this content in the original post

Don’t miss an episode!

Follow the podcast on Buzzsprout, Apple Podcasts and Spotify.