The Complete Business Guide for a Successful Medical Practice

This text provides physicians with the basic business skills in order for them to become involved in the financial aspect of their practices. The text will help the physician decide what kind of practice they would like to join (i.e. private practice, small group practice, solo practice, hospital employment, large group practice, academic medicine, or institutional\government practice) as well as understand the basics of contracting, restrictive covenants and how to navigate the road to partnership. Additional topics covered include, monthly balance sheets, productivity, overhead costs and profits, trend analysis and benchmarking. Finally, the book provides advice on advisors that doctors will need to help with the business of their professional and personal lives. These include accountants, bankers, lawyers, insurance agents and other financial advisors.

The Complete Business Guide for a Successful Medical Practice provides a roadmap for physicians to be not only good clinical doctors but also good businessmen and businesswomen. It will help doctors make a difference in the lives of their patients as well as sound financial decisions for their practice.

Provides medical practitioners with the basic business skills and understanding of the financial aspects of their practice Provides suggestions for marketing and branding strategies to differentiate one's practice from competitors Provides tips on how to use the Internet and social media to not only connect with existing patients but also attract new patients

Autorentext

Neil Baum, MD

Department of Urology, Touro Infirmary, New Orleans, Louisiana, USA

Roger G. Bonds, MBA, CMSR, FMSD

President & CEO, PhysicianCareerAdvisor.com, Atlanta, Georgia, USA

Founder, American Academy of Medical Management, Atlanta, Georgia, USA

Thomas Crawford, PhD, MBA, FACHE

Faculty and Chief Operating Officer, University of Florida Prostate Disease Center, Gainesville, Florida, USA

Karl Kreder, MD, MBA

Professor and Department Executive Officer, Rubin H. Flocks Chair, Department of Urology, University of Iowa, Iowa City, Iowa, USA

Koushik Shaw, MD

Austin Urology Institute, Austin, Texas, USA

Thomas Stringer, MD, FACS

Medical Director, Department of Urology, University of Florida/Shands Health Center, Gainesville, Florida, USA

Raju Thomas, MD, FACS, MHA

Department of Urology, Tulane University School of Medicine, New Orleans, Louisiana, USA

Inhalt

The Basics of the Business of Medicine.- Transitioning from Training to Practice.- Job Search.- Compensations Models, Patient Volume & the Pro Forma.- Insurances and Essential Fringe Benefits.- The Coding Aspect of the Business of Medicine.- Understanding Financial Statements.- Numbers You Need to Know.- The Revenue Cycle.- Stark Law Impact on Medical Practice.- Restrictive Covenants.- Medical Equipment: Leasing vs. Buying.- Ancillary Income.- Selecting Advisors.- Debt Reduction.- Becoming Financially Savvy.- Practice Buy-In Options: The Road to Partnership.- Marketing: Understanding the Modern Patient and Customer.- Building Your Career, Your Reputation and Your Personal Brand.- The Business Side of Developing a Social Media Presence into Your Medical Practice.- Burnout Prevention for Practicing Physicians.- Future of Medicine.- Conclusion: Our Very Last Bottom Line.