The Entrepreneur’s Life: When a Radiologist Finally Reclaimed His Time

This Week’s Real-Life Lesson: The Art of Leaving Well

A few weeks ago, I met with a thoughtful radiologist who had reached a familiar crossroads. To protect his privacy, I’ll call him Dr. Ellis.

He’s mid 50’s, financially independent, and, like many mid-career physicians, caught between professional duty and personal sanity. For decades, he’s carried the weight of partnership in a small private imaging group. Recently, the group invested heavily in new technology, increasing debt. His partners are older and content to grind until retirement.

But Ellis isn’t.

“I don’t want to quit medicine,” he said, “I just want it to stop owning me.”

That’s a powerful statement, and a familiar one. As I listened, I realized this wasn’t just a financial problem. It was an identity problem.

The Crossroads of Meaning and Money

Ellis’ situation is textbook:

• 3-person private radiology group covering both hospital and imaging center.

• 12–13 hour workdays, two weeks on, one week off.

• Strong finances: ~$5M net worth, minimal debt, and $50K/year from side teleradiology.

He’s earned the right to design a different life. What he needed was permission and a plan.

Together, we sketched a three-phase framework that could guide his next chapter:

1. Unwind gracefully: Have a candid, transparent talk with his partners about scaling back.

2. Rebuild smartly: Form a micro-corporation to handle his part-time teleradiology income.

3. Reinvest intentionally: Channel freed time and capital into passive real estate and family.

I’ve had hundreds of these conversations, and every time, the doctor’s body language changes when they realize they can step back without falling off a cliff.

You don’t have to leave medicine to leave the chaos. You just have to own your work differently.

The Power of the Micro-Corporation

Ellis’ $50,000 in 1099 income made him an ideal candidate for a professional micro-corporation, the backbone of semi-retirement done right.

By incorporating, he could:

• Retain up to 15% more net income through tax efficiency.

• Access personalized benefits like an HRA and solo 401(k).

• Control how he gets paid, shifting from an employee mindset to an ownership model.

This is the same strategy I’ve seen transform dozens of mid-career doctors’ lives. It’s all outlined in my free guide, Why Every Doctor Should Form a Micro-Corporation

We also discussed the “soft skills” of this pivot — having courageous conversations, setting boundaries, and rethinking value. I encouraged him to take a personal retreat with his wife using my free planner, Dare to Dream: Physicians’ Annual Retreat

He smiled and said, “That’s the first prescription that actually sounds fun.”

🧱 The Micro-Business Mindset Shift

Ellis’ story isn’t just about less work, it’s about reclaiming authorship.

For thirty years, his schedule was written by others: hospitals, partners, call schedules. Now, he was learning to write his own.

I told him, “You don’t have to retire from medicine. You just need to redesign it around your life.”

That’s the heart of what we do at PEA-SimpliMD : help doctors bridge the gap between healing and ownership.

🧾 Is This Deductible?

Driving 3.5 Hours to a Rural FM-OB Assignment

This month, I drove 3.5 hours from my home to a small rural hospital for a Family Medicine–OB shift, and then back home the next day. Naturally, the question came up: Is that mileage deductible?

Here’s how it worked for me:

✅ Yes — because it was business travel. This was a temporary worksite, not my regular place of practice, so it qualified under IRS rules as a deductible business trip.

✅ I used MileIQ to track it. The app automatically logged start and end points, timestamps, and total mileage. I simply classified it as “business” with a note: FM-OB coverage – Rural site.

✅ Documentation is everything. At the end of the assignment, I generated a detailed PDF report from MileIQ showing each leg of the trip. I submitted it to the locums company for reimbursement at the IRS standard mileage rate.

✅ Lesson learned: The key isn’t the drive, it’s the documentation. You can’t retroactively justify miles, but with MileIQ or similar apps, you can effortlessly build the record as you go.

For more on setting up your micro-corporation’s and turning travel into tax-free reimbursements, grab my free e-book Retain More, Grow More

Lessons From Dr. Ellis’ Transition

1. Freedom doesn’t require retirement, it requires structure.

2. Micro-corporations aren’t complicated; they’re empowering.

3. You don’t have to ask permission to change your work.

4. Real wealth is measured in control, not collections.

If you’re sitting in the same place as Dr. Ellis, tired but not done, start with my article Find Freedom by Downshifting Your W-2 Job It’s a roadmap for stepping back without stepping away.

If know you need to make a change, but not sure about your next move, reach out to me and let’s do a PEA strategy consultation and we can review your professional options together.

Join the Movement

“When you own the means of your work, you own the means of your peace.”

Thousands of clinicians are building micro-businesses that serve both their mission and their lives. Are you ready to join them?

👉 Join the PEA Explorer Membership Your first step into our community of physician entrepreneurs — and access to our library of free resources, including:

• Independent Contracting for Physicians

• Personalized Benefits for Self-Employed Doctors

• Health Insurance, HRAs, and HSAs for Self-Employed Doctors

Because medicine doesn’t have to own you. You can own your future instead.