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July 31, 2018

Biz Buzz: Local physician launches mobile practice

Contributed Photo
Dr. William Simpson will travel to his patients when Doc At Your Door opens Aug. 15.
Dr. Simpson will take services to patients

A veteran Warrenton physician will launch a mobile practice Aug. 15.
After 25 years of providing office- and hospital-based primary care, William L. Simpson in the spring resigned from Piedmont Internal Medicine to establish Doc At Your Door.

Starting as a solo practitioner, Dr. Simpson said he “will provide a full spectrum of portable primary care for patients in any location they prefer: home, work, school, hotel, living facility or even via remote video visits.”

The physician will charge $5 a minute during regular hours, $7 a minute nights and weekends and $2 a minute for travel to and from Warrenton, according to his website. He will not accept insurance payments for his services, although coverage will apply to tests and prescriptions that he orders from other providers.

In one sense, the practice model resembles that of old-time doctors who made house calls. The practice will focus on home-bound patients and those who prefer that the doctor come to them.

“Dozens of the ambulatory patients I cared for in the office at Piedmont Internal Medicine have already requested that I continue as their primary care provider in their homes,” Dr. Simpson said. “So, I have willingly agreed to offer this new service both to those who need it, due to disability, and to those who simply prefer it for the convenience, personalization and privacy it offers.”

Patients will determine the location for their care and how much care they prefer.

“Unlike the increasingly rushed visits experienced in the office setting, my mobile visits will have no time limit,” said the physician, who came to Fauquier in 1993 to join Barry Lupton’s internal medicine practice.

Dr. Simpson and his partners in 2014 sold Piedmont Internal Medicine and its building on Holiday Court in Warrenton to Fauquier Health for $5.3 million.

He will provide a range of care and procedures in the new practice, which has an electronic medical records system.

Fauquier Bank earns $1.7 million in quarter

The Fauquier Bank’s parent company reported second-quarter profits of $1.7 million, up 67.58 percent from the same period in 2017.

For the first six months of 2018, Fauquier Bankshares Inc. (Nasdaq: FBSS) reported net income of $3.2 million, a year-over-year increase of 84.6 percent.

Earnings per share, return on average assets and return on equity all increased for the quarter and for the first six months of this year.

“We are very satisfied with second quarter and year-to-date financial results,” President/CEO Marc Bogan said. “We believe the strategies we have implemented are beginning to take hold, and the results are being realized. In spite of the continued positive trends in earnings, current loan and deposit competition in our local and regional markets is very challenging.

“Our lending team is focused on building relationships that will enhance and diversify our balance sheet while maintaining superior credit quality. Our retail deposit team is aligning our deposit products and pricing to encourage deposit growth and to retain our existing portfolio.”

Mr. Bogan added, “Our increased profitability, in part, is attributed to the efforts of managed asset growth and controlling our cost of deposits as changes in the interest rate environment impact our industry as a whole. We continue to be pleased with our progress as we enter the second half of 2018.”

At June 30, total assets stood at $651.5 million, an increase of 0.8 percent year-over-year.

Net loans totaled $505.6 million, an increase of $42.3 million from June 30, 2017.

Total deposits declined year-over-year to $565.8 million.

Nonperforming assets totaled $9.1 million on June 30, down from $10.7 million a year earlier. That included $2.7 million of nonaccrual loans and $1.4 million of other real estate owned.

Founded in 1902 and headquartered in Warrenton, The Fauquier Bank has 11 branches in Fauquier and Prince William counties.

Oak View National 2Q profit up 9.2 percent

Warrenton-based Oak View National Bank reported second-quarter net income of $373,917, up 9.2 percent from the same period last year.

For the first six months of 2017, Oak View’s profit rose 33.4 percent — to $739,270.

Earnings per share, return on average assets and return on average equity all rose in the quarter and for the first six months of 2018.

“The bank has enjoyed outstanding loan growth in the current quarter and first six months of 2018,” Chairman and CEO Michael Ewing said. “At the same time, however, increases in short term rates and local competition have combined to force the bank to become more aggressive in its deposit gathering efforts, which has impacted our net interest margin.

“While the environment is challenging, we believe we can manage our growth and continue to improve our overall profitability.”

Net interest income of $1.99 million in the quarter ended June 30 represented an 11.9-percent increase from the same period last year.

Loans, net of unearned interest and deferred costs, increased 19.6 percent to $201 million at the end of the second quarter.

As of June 30, Oak View had non-performing loans totaling $526,064.

Total deposits ended the quarter at $193.4 million, an increase of 18.7 percent from a year earlier.

Total bank assets rose 17.9 percent to $241.2 million at quarter’s end.

Established in 2007, Oak View has offices in Warrenton, Marshall and Culpeper. It grew from the roots of the old Marshall National Bank & Trust Co., which went through a series of mergers, starting in 1998.

LFCC offers cybersecurity certificate

Lord Fairfax Community College will offer an accelerated Cybersecurity Career Studies Certificate this fall at its Vint Hill center.

College officials will explain the program, which students can complete in less than one year — during an open house from 5:30 to 7 p.m. Wednesday Aug. 1, at 4151 Weeks Drive.

Classes will meet from 6 to 9:30 p.m. Mondays at Vint Hill.

Click here for more information.

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Fauquier17 · August 3, 2018 at 10:12 am
PattiL - thousands and thousands of insured patients are rushed through doctors offices every day across this country, increasingly after trouble getting an appointment, taking off work to get there, long waits in the waiting and exams rooms, often getting exposed to contagious diseases from other patients, only to get several minutes of the their doctor's time, most of which he/she spends on the computer satisfying useless data collection requirements from the insurer/government . . . and disabled patients can additionally spend $300 - $500 for medical transport to the office . . . yes -- you can get ALL of this for $20 - $30 ! But for those who would like more personalized, comprehensive, private, and convenient care, the option will now exist in our community. Lots of good information about the pros (and cons) of this new model at !! Wm Simpson, MD
PattiL · August 1, 2018 at 4:41 pm
15 minutes x $5 = $75, plus let's say 15 minutes of travel time, add another $30. So $105 gets you 15 minutes. Huh. Going to a doctor's office will cost $20 - $30 copay with most insurances. Good luck to the doctor.
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