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Medicine | The Complete Business Guide for a Successful Medical Practice

The Complete Business Guide for a Successful Medical Practice

Baum, N., Bonds, R.G., Crawford, Th., Kreder, K., Shaw, K., Stringer, Th., Thomas, R. (Eds.)

2015, XIV, 277 p. 18 illus., 10 illus. in color.

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  • 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

It is imperative that doctors know how to speak the language of business when communicating with insurance companies, hospital administrators, bankers, accountants and other advisors. Like any business, doctors will need to have marketing and branding strategies that will create advantages and differentiation as the practice of medicine becomes increasingly competitive. This book offers suggestions for developing a practice that is both unique and attractive to new and existing patients, and also to other providers.  Additionally it helps to identify your practice's strengths and strategize how to best showcase your areas of expertise by providing examples and analyzing the skills of other practicing physcians. 

 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.

Content Level » Professional/practitioner

Keywords » Coding Basics - Debt Reduction - Practice Metrics - RVU - Stark Provisions

Related subjects » Cardiology & Angiology - Medicine - Public Health - Surgery

Table of contents 

1.      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

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