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Medical Practice Business And Marketing Articles
Article #27 - Nov. 2011
ďDoctors Who Change Careers Carry Their
Business Deficiency With Them... And
How To Avoid Doing BothĒ
ďI think most of us are looking for a calling, not a job. MostNora Watson
of us, like the assembly line worker, have jobs that are
too small for our SpiritĒ---doctorís responsibility goes well beyond medical practice.
Changing careers is most often the result of failure to recognize the real origin of medical practice frustration. If doctors donít recognize it, they canít do anything about it. The inciting stimulus for making a decision to change careers most often originates from some form of insult to their personal integrity so strongly held in the mind that one becomes incapable of using common sense and logic. Itís exacerbated by their inability to define whatís
really going wrong.
As a result, the consequences, disadvantages, lifestyle changes, family commitments, and personal goals resulting from such a move may become the least of concerns. You just ďknowĒ you have to do it because you see no way out of the dilemma. You donít see it because you havenít been told or learned the factors that will solve the problem.
For example, for any physician to reach their highest potential in their medical practice they must have significant practice profitability that consistently expands both in patient flow and practice revenue. If you donít have a stable practice income, you wonít be able to practice medicine anywhere. And I havenít even mentioned the obligations you have to your family and their trust in your ability to support them.
What circumstance could a doctor face that would be more devastating to their self-worth than to financially fail in medical practice and fail in their career? Even worse of a blow comes when you finally realize that the failure is a result of your own creation.
If you donít understand the implications that medical practice is a business and you are the owner of that business, then who is responsible for managing that business?
When a doctor knows how to manage a medical practice business profitably, the medical practice income soars, frustration is significantly removed, and there is no need to quit medical practice or consider changing careers because of lack of adequate income to provide for everything you want to accomplish.
Doctors who have no business knowledge provided to them during their education find their practice incomes dropping, patient numbers dropping, and practice survival right on the edge. Discouragement and frustration with the practice of medicine starts from insufficient practice income in most cases. The same is true for any category of business owner.
To practice without frustration and the threat of losing your medical practice, a
To reach the highest level of success and offer the optimal medical expertise to your patients, you must follow the time-proven
From college through medical school and beyond we are committed to reaching the goals we have envisioned. When someone throws a monkey wrench into the works later in medical practice, you suddenly discover thereís another whole world of business education you lack and need.
That factor becomes evident when one pays attention to the large numbers of medical professionals who are changing careers, limiting practices, moving to new locations, and are screaming with frustration. Surveys by the AMA reveal that well over 40% of physicians are seriously frustrated with medical practice... but they donít reveal why.
You will never convince me that the attrition of doctors today is not caused primarily by lack of income. Do you ever hear complaints from wealthy doctors about lack of patients, increasing frustration concerning medical practice, or changing their careers? I donít.
I believe if you take any physician today and give him or her the business tools to implement into their medical practices, that every physician will not only triple their income in a year, but also have a business machine that continues to build their practices exactly like all other successful businesses have done everywhere.
If your ambition from the beginning was just to help cure illness and treat disease and trauma, you must have by now had a resounding revelation about the practice of medicine. For those physicians in general practice who are complaining about no patients, poor income, and a lifestyle not of their choosing, it must be a profound wake-up call for them to find out about the critical disadvantage resulting from the lack of business knowledge.
Most important is that all physicians have the opportunity to implement the time proven business strategies into their medical practices if they learn what to do. There are business models that fit every physician and every medical practice because they can be custom fit to that practice.
You may recall that no one during your premed college program suggested that you should take business or marketing courses... as they had an obligation to do. Additionally, remember that all through your medical school curriculum you were never taught anything about business or running a medical practice, let alone did anyone ever even mention the need for business strategies or knowledge... nor do they ever intend to.
Sure, if you were smart enough to get into medical school, then you were smart enough to know yourself that you had a reason to know about business principles... so the idea goes. It was your responsibility, why didnít you do it?
Your medical business educational deficiency moves with you to
your next job...
Like a dog that latches on to your pant leg, the lack of business knowledge follows you into your next career. Itís something most doctors who change careers even consider. If a doctor starts a business of his own outside of the medical profession the same thing will happen there.
They may have changed careers because of the severe frustration with the medical profession, not realizing that the frustration was caused because they had no idea how to save their practice financially, and because they had no business knowledge to know how to solve the problem. It is solvable,
Taking the responsibility of self-educating yourself in business principles and marketing strategies always pays off. You can do it all yourself and donít have to pay other experts to do it for you. Lots of doctors couldnít afford to hire it done anyway. Within a few months of reading the appropriate business books along with a bit of coaching you are perfectly capable of transforming your practice to a well oiled money machine... believe it or not.
My suspicion is that most of you refuse to believe that and is why you will continue struggling as you are now. You can't continue doing the same things over and over the same way, and expect the results to be any different than your have been getting.
You might be interested in knowing the latest news about training business professionals. It seems that professional football and other sport professionals are more important than doctors in the minds of our elite academic educators.
On November 3, 2011 an article in the Wall Street Journal elaborated on the recent creation of the STAR Program at George Washington University School of Business. The tragedy of professional athletes who earn millions of dollars fast, then for some reason or injury are forced out of sports and go broke... was just too pitiful for these elite business schools to let happen.
Several elite university business schools have similar programs for professional athletes to earn an MBA by part time education, home study, and direct instruction by the business school professors.
Then there are other professionals, like doctors, who certainly are in much more need of this type of business education, and are totally neglected as a educational priority. It even includes my alma mater at the University of Pennsylvania, Wharton School of Business. The words I am thinking, about this outrageous issue, would not be appropriate for publication here.
Comment about who's responsible for any doctor's business education...
Anyone committed to the practice of medicine is also obliged to become knowledgeable in business for their own advantage as well as for providing the best medical services to your patients. Physicians as well as other medical professionals are sent out into medical practice totally unprepared for business management.
When you think about it, itís similar to sending a soldier into combat without any ammunition. Not only does it hamstring the success of every doctor who graduated from medical school, but continues to infect new grads in our 142 plus medical schools in this country.
Not only does it prevent, or at least seriously interfere with, the highest potential any doctor can reach in medical practice, but also creates the ultra structure for the disintegration of the medical profession as a whole. Read "The E-myth--Physician" to find out why.
What are you going to do about itÖ if anything? Maybe tell your medical school dean to shape up and do the right thing? At least you can improve your own medical practice without compromising your time and budget, if you choose. Ask me or any expert in marketing and business to help you.
My goal is to create a business program that any physician can use to learn business and marketing well enough, at any age or time in practice, at their own speed part time, to become a formidable medical practice warrior driving their practice to the levels that they have never even thought about or even considered there might be a way to get to.
Most physicians today that I know and speak with lose their motivation after the first few years in practice, to make any effort to learn what they need to know about business to become highly successful and wealthy. And that, my friends, is an absolute tragedy that has to be overcome, God willing.
The author, Curt Graham, is a highly experienced business and marketing expert, copywriter, and entrepreneur who has been published in various media over 50 years while in medical practice and after
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© 2004-2011, Curt Graham M.D., All rights reserved.
The Renegade Millionaire Way
by Dan S. Kennedy
"Get Out Of the Alligator Pit At Least
An Hour Every Day"
Recently, two business partners came to visit me, looking for magical help with their host of terrible problems. Without dragging you through all the details, the bottom line: they have no terrible problems. They have a few minor problems. But, overall, theyíre in pretty good shape.
Theirs is a business that peaked at about 2.5 million, dipped to 1.6, but is now back up to 1.8, may break 2 this year ďas isĒ, has lost some markets but gained different opportunities, and is satisfactorily if not excitingly profitable as compared to industry norms. But to hear these two, youíd think the sky was falling.
The blunt truth: they need a therapist, not a marketing consultant. Actually, they need to start with a very simple but important strategy....
One of the Eternal Truths that I quote in one of my books is; "When you are up to your ass in alligators, itís difficult to remember that your original objective was to drain the swamp". Itís easy to get so caught up in managing all the problem parts of a business that you never do anything else. And thatís a sure path to where these two partners are now: burn out.
I could give Ďem the all-time killer sales letter, the best marketing campaign ever devised, and it wouldnít do them much good...when they go to the office each day wishing they werenít there, fatigued from first thing on, going through the motions, viewing their activities as drudgery...and end the day without any sense of measurable progress toward meaningful goals...their Ďwalking deadí aura pervades ever nook and cranny, every employee, every customer, every aspect of their business. Itís the psychic equal of trying to attract a lot of customers to a restaurant that smells like rotting,
Prescription: each and every day, keep a pre-set, inviolate appointment with yourself or with one or two key people, out of sight and hearing of the alligator pit, no matter how many alligators there are or how hungry they are, to do nothing but focus and work on positive, productive plans and strategies that look to the future, that are linked to goals and progress, that you can be excited and optimistic about.
Simplistically, this is a means of maintaining perspective. Even better, add taking one action, getting one thing done every day, no matter what, that you know moves you forward, toward positive goals. Go home if you must knowing you spent 7 hours and 58 minutes in the alligator pit, but at least you found 2 minutes to put something in motion that will improve things.
DAN S. KENNEDY is a serial, multi-millionaire entrepreneur; highly paid and sought after marketing and business strategist; advisor to countless first-generation, from-scratch multi-millionaire and 7-figure income entrepreneurs and professionals; and, in his personal practice, one of the very highest paid direct-response copywriters in America. As a speaker, he has delivered over 2,000 compensated presentations, appearing repeatedly on programs with the likes of Donald Trump, Gene Simmons (KISS), Debbi Fields (Mrs. Fields Cookies), and many other celebrity-entrepreneurs, for former U.S. Presidents and other world leaders, and other leading business speakers like Zig Ziglar, Brian Tracy and Tom Hopkins, often addressing audiences of 1,000 to 10,000 and up. His popular books have been favorably recognized by Forbes, Business Week, Inc. and Entrepreneur Magazine. His NO B.S. MARKETING LETTER, one of the business newsletters published for Members of Glazer-Kennedy Insiderís Circle, is the largest paid subscription newsletter in its genre in the world.
GIFT OFFER FROM DR. GRAHAM----- https://gkic.
Curt Graham, M.D.
2404 Mason Ave. Las Vegas, NV 89102
E-mail = cgmdrx(at)gmail.com
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