Monday, April 08, 2013

Doctors driven to bankruptcy - Apr. 8, 2013

Doctors driven to bankruptcy - Apr. 8, 2013
Dr. Morgan Moor was on the brink of bankruptcy in 2011. An internist with a solo practice in Brentwood, Tenn., Moor said the recession badly hurt her once-thriving practice. By 2010, she had lost almost half of her active patients, her annual revenue had dropped nearly 30%, and she had to lay off half her employees.
"We were told that bankruptcy was our only option," she said. So she hired Guy. Luckily, Moor said, she was able to restructure her debt and her business without filing.
Every day since has been a struggle, though. "Every payroll, I wonder if we will be able to keep doing this," she said. "I try not to think about it because it paralyzes me with fear."

We are reminded:

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