Here's what I'm doing . . .
What I'm doing: Dr. Tanyech Walford
Family practice physician Tanyech Walford has seen her business shrink and insurance reimbursements cut back. For her, the financial crisis means closing her office and leaving L.A. Walford tells her story for our series "What I'm doing."
Stethoscope and chart (iStockphoto)
More on The Economy, Jobs, America's Financial Crisis
TEXT OF COMMENTARY
Kai Ryssdal: One of the questions we're asking throughout the Wall Street meltdown is: What are you doing? Yes, you. And other people who are deciding whether to change the way they save and invest. In this installment in the series, we check a financial pulse in Southern California.
Tanyech Walford: I'm Dr. Tanyech Walford, I'm a family medicine physician in Los Angeles, California. It's looking like I'll have to end up closing my practice that I've dedicated the last 5 1/2 years to build.
I've watched revenues diminish because people can't, and are not, paying their bills. Probably last year this time I had to refer, maybe, 2 percent of my patients to a collection agency to collect outstanding balances. Probably about 30 percent of my patients right now are referred to a collection agency. And I don't like to put that kind of burden on them, but the flip side of that coin is that I can't pay my bills and I'm working for free.
I'm going to pack up and abandon ship. I've decided to move back to the East Coast to an economy that is a little bit more user friendly, so to speak. And I'm also going to hide behind the shield of a larger practice, probably hospital-based practice, that can fight with these insurance companies and the government to get proper reimbursement so I can survive. Not only to survive but to flourish.
Kai Ryssdal:Dr.Tanyech Walford practices family medicine in Los Angeles.
Comments
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From Los Angeles, CA, 12/23/2008
I agree. Dr. Walford was an exceptional doctor and an equally exceptional person. She tenderly but strongly worked closely with my friend as he fought cancer and was there among family and friends when that journey ended. I am saddened by this event. She will be missed by those of us here who knew her and those who receive care from her at her new facility will be greatly blessed.
Jason
From CA, 12/16/2008
Dr. Walford has been my family doctor for the past 4 years. Unfortunately, I found out about her practice closing by reading an article on the front page of the LA times yesterday before I received the letter she sent to her patients. This saddens me so much. She is such an OUTSTANDING doctor! She has seen me through a couple of surgeries and fitness and nutritional counseling. She's truly a caring and compassionate doctor who gives her all to her patients. You just can't find doctors like that these days, especially in Beverly Hills. I know she gave a lot more to her patients and her practice than she was rewarded economically. While I have very good PPO insurance, I understand that some of her patients may not have had good insurance. I wish she could have been able to stay in the LA area and practice. The practice in Maryland that she will be joining is so fortunate to have her. She's a tremendous woman of character and integrity too. It's a shame when economic conditions end up so negatively affecting someone who clearly just wants the best for those she serves but can't keep afloat in a modest medical practice. Just sad. I'll miss her.
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