#281 How a Private Practice Doctor Built a New Income Stream and Became a Medical Advisor ft. Tyler De Jong of DrKumo

Dr. Tyler De Jong and DrKumo

In this episode, Dr. Peter Kim introduces Dr. Tyler De Jong, an internal medicine doctor based in Southern California. Dr. De Jong is not just a physician; he is also a leader in healthcare innovation. He runs the D. Young Medical Group with his father and serves as a medical advisor at Dr. Kumo, a company focused on using technology to help doctors remotely monitor patients.

Tyler is passionate about combining his medical experience with new technologies to improve patient care and make life easier for doctors. His story highlights how technology, like remote patient monitoring (RPM), is changing healthcare and how physicians can embrace these innovations to enhance their practices.

Starting Private Practice and Facing Early Challenges

Dr. De Jong reflects on his decision to start his own private practice after completing his residency. He mentions that many doctors opt for hospital jobs because they offer stable income, but he chose private practice for the freedom and flexibility it provided. One of the biggest challenges he faced was the financial delay in private practice—payments for patient visits can take up to 90 days to come through. This financial gap can be difficult to manage, especially when starting out.

Despite this, Dr. De Jong encourages other doctors to consider private practice, explaining that although it requires careful financial planning, it’s rewarding in terms of independence and the ability to make decisions that directly impact patient care.

How Remote Patient Monitoring Came into His Practice

Dr. De Jong shares the story of how remote patient monitoring (RPM) was introduced to his practice. Initially, he was skeptical when a company approached him with the idea. He had received many proposals before, but something about the CEO of Dr. Kumo’s approach stood out. After meeting with her, hearing about the company’s values, and learning about their mission, he decided to give RPM a try.

What surprised him most was how well it worked. RPM allowed him to monitor his patients’ health metrics, like blood pressure and heart rate, in real time without requiring frequent in-person visits. This technology not only improved patient care but also increased his practice’s revenue, which was a pleasant surprise.

The Financial Benefits of Remote Patient Monitoring

In this section, Dr. De Jong goes into detail about the financial benefits of RPM. He explains that through Medicare, his practice was reimbursed for enrolling patients in RPM, tracking their data, and reviewing it monthly. The best part is that these activities didn’t require much of his time.

RPM essentially became a source of semi-passive income for his practice, bringing in revenue without a lot of additional work. This extra income allowed Dr. De Jong to cut down on moonlighting and extra shifts, which gave him more time for himself while maintaining a profitable practice. RPM became a win-win situation, benefiting both his patients and his business.

The Future of Remote Patient Monitoring and Technology in Healthcare

Peter raises taxes. Jesse explains the fund is a Delaware limited partnership, issuing K-1s to investors. Most profits are treated as capital gains, unless repaid within 12 months, in which case it’s short-term. Distributions blend return of capital with gains.

They discuss the investor profile. Many invest through IRAs, where the lack of steady dividends is less of an issue. Targeted returns of 14–17% make it attractive, especially as a safer alternative within real estate portfolios. It’s also appealing as diversification since it’s neither traditional equity nor debt, but a hybrid.

Peter asks about the company’s future. Jesse says they’re focused solely on home equity agreements given the strong momentum. However, their team’s background in mortgages and home equity lines leaves room to expand into other products in the future.

The episode closes with Peter summarizing. For homeowners, it’s a new way to access equity; for investors, it’s a fresh real estate opportunity. He encourages listeners to explore HomeShares if they’re interested.