Description
Book SynopsisThis 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.
Table of Contents1. The Basics of the Business of Medicine
Neil Baum and Raju Thomas
2. Transitioning from Training to Practice
Koushik Shaw, Thomas F. Stringer and Roger Bonds
3. Job Search
Roger Bonds and Neil Baum
4. Compensation Models, Patient Volume & the Pro Forma
Thomas Crawford and Roger Bonds
5. Insurances and Essential Fringe Benefits
Thomas Crawford and Neil Baum
6. The Coding Aspect of the Business of Medicine
Betsy Nicoletti
7. Understanding Financial Statements
Karl J. Kreder
8. Numbers You Need to Know
Karl J. Kreder
9. The Revenue Cycle
Michael T. Harris and David Kaplan
10. Stark Law Impact on Medical Practice
Michael Igel and Thomas Stringer
11. Restrictive Covenants
Michael Igel
12. Medical Equipment: Leasing vs. Buying
Victoria J. Sharp and Karl J. Kreder
13. Ancillary Income
Victoria J. Sharp and Dan Gralnek
14. Selecting Advisors
Neil Baum and Roger Bonds
15. Debt Reduction
Neil Baum and Roger Bonds
16. Becoming Financially Savvy
Raju Thomas
17. Practice Buy-In Options—The Road to Partnership
Roger Bonds
18. Marketing: Understanding the Modern Patient and Customer
Elizabeth W. Woodcock and Neil Baum
19. Building Your Career, Your Reputation and Your Personal Brand
Michael T. Harris and Neil Baum
20. The Business Side of Developing a Social Media Presence into Your Medical Practice
Ron Romano and Neil Baum
21. Burnout Prevention for Practicing Physicians
Dike Drummond
22. Future of Medicine
Neil Baum
23. Conclusion—Our Very Last Bottom Line
Neil Baum
