On July 1, 2011, Dr. Heather Dewitt established Life Medical, a medical practice organized as a professional corporation. The following conversation occurred the following January between Dr. Dewitt and a former medical school classmate, Dr. Naomi Kennedy, at an American Medical Association convention in Boston.
Dr. Kemmedy: Heather, good to see you again. Why didn’t you call when you were in Chicago? We could have had dinner together.
Dr. Dewitt: Actually, I never made it to Chicago this year. My husband and kids went up to our Val condo twice, but I got stuck in Fort Lauderdale. I opened a new consulting practice this July and haven’t had any time for myself since.
Dr. Kennedy: I heard about it. life . something. right?
Dr. Dewitt. Yes, Life Medical, My husband chose the name.
Dr. Kennedy: I’ve thought about doing something tike that. Are you making any money? I mean, is it worth your time?
Dr. Dewitt: You wouldn’t believe it. I started by opening a bank account with $40,000, and my December bank statement has a balance of $90,000. Not bad for six months-all pure profit.
Dr. Kennedy: Maybe I’ll try it in Chicago! Let’s have breakfast together tomorrow and you can fill me in on the details.
Comment on Dr. Dewitt’s statement that the difference between the opening bank balance ($40,000) and the December statement balance ($90,000) is pure profile.