The Complete Business Guide for a Successful Medical Practice, 2015

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.

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

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

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