Lyric discussion by PBA 

I'd propose these corrections to the lyrics:

"Don't dream of any gallant men tonight"

and

"Every sigh he'll hear"

It seems very much a re-telling and re-contextualising of the Succubus myth.

Young virgin girl starts having sexual thoughts and is de-flowered by a "spirit". Here the spirit is replaced by the Doctor figure. Physick is an old term for medical practice, suggesting someone, perhaps unqualified? He is also called Doctor Monk in the song. I've wondered for years if I was miss hearing that line but all the on line lyrics I've seen say Doctor Monk... I suggest then that maybe it is an allusion to religion. If so, the song puts both the medical profession and the church in a questionable, sinister position.

Good work Mr. Thompson and Mr. Swarbrick!

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