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Article #51   Oct. 2013               


“Most Beneficial and Practical Medical Practice Information Resources (2013) for Every Physician and Medical Student Now In the Healthcare Profession”
(Resource series #1)

Foreknowledge of the common tips, challenges and medical practice business and marketing advice is exactly what every doctor needs to be aware of, if they expect their professional life and career be one of optimal performance and value.

(Excerpts of each resource will be inspiring,
but you have to read the complete reference
on your own... word by word.)

I’ll detail the benefits to three groups of professionals below...

1. Medical students.
2. Residents in training.
3. Physicians in medical practice.

Why it’s important...

For Medical Students

If you don’t read this book right now, you can expect to
stumble around later wasting time and energy to learn these things. There truly is such a thing as “book mentorship” (It’s how you learned human anatomy your first year of med
school… right?) and it’s levels above “book resources” and
“book reading” by any standard of qualification.  

In today’s constantly changing medical practice environment you likely are pitifully innocent of the majority of pending, constantly changing and present medical practice issues that will create for you umpteen hurdles to jump.

These challenges that appear out of nowhere and threaten
your professional status and career have everything to do
with your ability to practice medicine in a comfortable and
profitable manner. 

You absolutely must have this information in mind as early
as possible in your medical student years in spite of the
clinical learning curriculum requiring your constant attention. You will thank me later for pushing you in this direction.

No one else will do that “favor” for you while in medical school because most of your teachers likely are in academic medicine and have no medical practice business to manage themselves, the employer facility administration does it for them. 

Wouldn’t you prefer knowing the inside details of the 20 + critical factors you need to know about and comply with just to get into your own medical practice?  Start your "practice" investigation a year or two sooner than everybody else? 

You will discover with time how much less trouble and worry you will have about your future because of the information you find recommended here.  

Residents in training 

By the time you have reached the midpoint of your specialty training, the majority of new physicians haven’t made the big decisions. You are so busy with your medical responsibilities you procrastinate until the last hour of training it seems like.  

The fact that your decisions being made at this time will determine how you will spend the rest of your next 20 or 30 years in medical practice… at least for most of you… should wake you up to reality.     

Your reasoning and decision making are made well before you are in the real process of practicing medicine the way you planned. That, my friend, is exactly why your extreme
diligence is required. It’s exactly why you have a responsibility of due diligence to do what it takes to leave no stone unturned in order to insure that what happens to you is not by fate, but by damn good investigation.   

Unfortunately, it’s rare to find a resident in training who is not only willing to “know” all the future circumstances regarding their next professional step in practice but also is willing to sacrifice the time during training to make it happen.  

The resources that I intend to suggest to you are what you will need to help you to stay on track and focused on what really counts. Let me present you with a few questions that you need to ask yourself that you may not have thought of.   

  1. What geographical area of the country do I want to live in over the next 30 years? You’re making a decision for your family as well as yourself.
     
  2. What situation of medical practice do I think I want to establish for myself for the next 30 years or so?  Like medical research, academic medicine, private medical practice? Have you traveled there, spoken with those you might be working with in the future? What if you don’t like them right at the start?
     
  3. What supportive factors will I need in that situation to practice like I want to and has lots of room to grow my practice?

    Does the area have industry where people work and have health insurance? Is the area overcrowded with my specialty? How would I know? Research who your patients will be there and whether you will run out of patients eventually?

    Are large hospitals available and have the tools I need to practice my specialty? If not, why—too small of a community?

    Are medical educational facilities and higher education colleges and universities nearby? Good for kids going to local colleges.
     
  4. If I get into academic medicine, will I be able to work up to a higher level of administration and seniority? Want to become chief of service sometime? Go there and talk to other doctors.

The recommended reading is meant to help you to find answers to these questions and many others. It’s critical that you know ahead of time what you are going to find when you get there… for your own peace of mind and practice satisfaction.

Physicians in medical practice  

Why would any physician already practicing care about these resources anyway? You are already in practice somewhere and usually doing a satisfactory job at it. However, you and I know that you could do a lot better. There are hundreds of ways to get to your optimal capabilities and practice income… if you are inspired to do better.

The AMA surveys show that about 14% of doctors move every year. Are you in that category, or will you be in the future? If you’ve been in medical practice over 10 years, you likely aren’t familiar with the changes in practice requirements in other states, new HIPPA rules, advantages of joining the Federation Credentials Verification Service (FCVS), your NPI number, EFIO, CAQH, OAS, PECOS, NPPES, RED FLAGS RULE, CLIA, COI and MEC, etc. 

With the final disposition of the Affordable Care Act still in
limbo at the time of this writing (Oct 10, 2013), you may be forced into practice modifications that you have never considered, let alone want to do. 

So, a brush-up on the world of Credentialism. It’s is a smart thing to do today. If you thoroughly investigate your options, then you’ll be well prepared to make good decisions later. Just don’t get the idea that a transition is easy and not painful. Let a bolt of common sense lightning strike your brain and open some new doors for you.

Don’t let mediocrity hold you back. You deserve top level status not only in your medical community but also in your capacity
to grow and do what you are capable of doing. Most doctors underestimate their optimal performance in medicine… don’t let that happen.

Take my word for it. The resources I am recommending will provide you with new inspiration and motivation to magnify what you already are doing. I am a no BS person to work with. You get the truth. 

Recommendation #1:  

cover graphic book the medical entrepreneur-10-13    “The Medical
    Entrepreneur”

             by Steven M. Hacker, MD

 

     Click the image to buy.....

Paperback 217 pages—approx. $18 new.

Second Edit. 2012

Available also in Kindle edition.

The Medical Entrepreneur computer application for your computer or mobile devise is available as a free download at iTunes or by use of this link: www.themedicalentrepreneur.com/app/app.html

Dr. Hacker divides the book into three parts...

  1. Everything you need to know before you see
    your first patient.
     
  2. For all physician entrepreneurs
     
  3. Pearls and proceedings from the 2012 Medical
    Entrepreneur Symposium

General Overview that I’d like to share with you

Dr. Hacker has a wide range of medical practice experiences in his career and ends up on the side of private medical practice. His sentiment is the same as my own about that.

He also has an impressive number of years of experience in founding and working in and on many businesses outside of medical practice. In one way or another they were all associated with the
healthcare field.
   
  

Part 1

Everything you need to know before you see your first patient...  

Dives right into what every doctor has already been through like choices we all have to make after medical school graduation and before we see our first patient. The purpose is primarily for the benefit of medical students who rarely are told much at all about what to expect about setting up a medical practice of their own.

Pitfalls are pointed out and his advice about management of those is validated in writing in the book by legal professionals and others who are experts in every area concerning establishing a medical practice that I can think of.

This is the first book I’ve found that carefully describes in detail all the necessary factors for the foundation of a strong medical practice. These necessary requirements commonly are just a blur to most students and young doctors. They certainly were for those of us back in the late 1960’s, and I suspect still are today.

Balancing the pitfalls with pearls of wisdom that come from
the heart of the author, gives the reader a strong sense of the author’s desire to help medical students and new doctors avoid mistakes in the process of becoming a medical warrior passionate about curing illness and mending trauma. The
less mistakes we make during that process, the more time
you have to practice medicine.

The information includes everything from forming a corporation to creating setting up an estate plan. The details are so well described that you can go to any expert or attorney fully
armed and ready to make serious decisions.

What I found extremely helpful to me knowledge wise was the section on “Licenses, Laws, and Acronyms”. The great majority
of these important issues I escaped from when I retired
in 1999.

In this section Dr. Hacker has written in depth about the many hurdles you will face as medical students in the future. Older doctors in practice today are already involved in trying to
adjust to HIPPA regulations and governmental restrictions
on fees.

I had no idea of the number of acronyms doctors must know about, know what they stand for, and know how much they can and will affect every doctor in medical practice from here on. This interwoven web of controlling agencies puts us all at risk today in one way or another. They won’t be going away in the future, so read and weep. 

Older doctors didn’t get by all those years in practice without living in terror either. The medical malpractice insurance crisis
in California in the 1970’s was a big one… practicing without malpractice insurance for 2 years was a real zinger for most doctors there. It happened again in Nevada and a few other states a couple years ago with the same problems for doctors. 

Others were the new “recertification” requirements, the CME revolution, and the increasing malpractice risks along the way. 

What Dr. Hacker is trying to get across to medical students is
the diligence and self-discipline that is required. Most of the barriers that come up are things that require preparation for handling. You have to know what’s coming down the line in order to prepare for it… like applying months early for a controlled drug license and your approval for the medical administrative agencies you join.  

Included in these preparations for the state medical licenses
you may need to apply for. Start earlier than you think to get those. During residency is a perfect time to do that.

Part two is a brilliant and unique section of the book dealing with the monetary need today for all physicians to consider starting outside businesses… that is if you intend to financially survive in private practice or even as an employed physician in the future.
 

Part 2: For all physician entrepreneurs.

The word entrepreneur has surfaced all over the Internet, in books, in education, and worldwide in recent years. The interesting thing about the word is that few doctors really understand what the word “entrepreneur” truly means and all that it encompasses.

This fact has been a significant obstruction to the business education of physicians and most others in business. Entrepreneurism has reached the level of a career path in colleges and universities.

The irony is that most doctors are entrepreneurs by nature and they don’t even recognize it. If you knew what it was all about, you would have the advantage of expanding your medical practice several times over.
 

A good definition of an entrepreneur is…  

“It’s someone who becomes aware that they have far more capabilities for creating and expanding a business than they ever imagined.

It involves the concept that when you step outside your
comfort zones, face your fears of failure, and understand the full extent and power of your true natural creativity. you open your mind to ideas, options, and processes for success that you will never see otherwise.  

Coupled with these factors are the determination,
self-discipline, self-confidence, never-give-up attitude and
belief that there is a way to accomplish anything with persistence and self-motivation.”
 

Some call an entrepreneur a persistent SOB, in a leopard’s attire. Now, if you don’t believe doctors are natural entrepreneurs right from the start, then consider what doctors do when they often run up against a patient that they have no idea what is causing their medical problem.

That’s right. You consciously open your mind to every detail of your medical knowledge, training, and education tucked away in your subconscious memory banks and with persistence come up with a close to perfect diagnosis and treatment. You never give up on it until it’s solved and managed adequately. How does that sequence get fired up suddenly and automatically?   

Right, you send an email on your mobile device to the subconscious librarian and ask for all the medical information concerning the issue. Dr. Maxwell Maltz explains how that happens, how the mind works, in his classic book still recognized today from the 1960’s titled, “Psycho-Cybernetics”

I can feel it. You are catching on so fast that I can’t keep up
with your train of thought about the point that Dr. Hacker is making here.  

Dr. Hacker, as I am, about the fact that most doctors are headed for financial poverty in medical practice unless you have multiple streams of income besides medical practice. I’ve written about this in my newsletters for the last 6 years. 

He wisely gives you a rather detailed analysis about how to understand financial statements, protect your intellectual property, and raise capital or funding for those separate businesses you certainly will need in the near future. Additionally, he includes specific data and instructions on medical websites, critical business requirements and standards you can’t do without, and resources for everything he says. 

The idea is to work less and earn more by following the proper channels he advises. 
   

Part 3: Pearls and proceedings from the 2012 Medical Entrepreneur Symposium 

This section of the book tells you what the experts are saying about the business of medical practice and how to avoid the pitfalls along the way. It appears that this Symposium is put on once a year in Florida in the spring… March to May. Any medical doctor or medical student should make every effort to attend the next one.
  

Comments

This book spoon feeds you the information you can always use along your career path as things in medicine keep changing. I commend Dr. Hacker for publishing such an outstanding composite of important information all packed into one book. You would be foolish to pass-up this opportunity to add this book to your personal
reference library.

Although medicine is advancing rapidly in technology, treatments, and healthcare, the unexplainable neglect of medical educators and medical schools to provide business education to all medical students even as a voluntary course of business and marketing study on DVD’s continues.

This is while medical schools are spending billions of dollars erecting new buildings on campus for more medical research and unnecessary medical studies most doctors don’t need. Students and doctors learn as much as possible while in medical school, but actually use only about 20% of that in their careers. Don’t medical educators see that?

Their lack of taking action to deal with this defect is a tragedy! 

 

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    Practice.

7. List Of My Medical
    Business Websites.

8. Humor.

Profitable Practice Tips


1. Free healthcare help:
Provide sources of info for your patients when
they ask.

With the mobile phone revolution patients are able to access help from 6 most useful mobile sources:

Websites:

Simplee.com

HospitalCompare.hhs.gov

HealthVault.com

APPS:

ZOCDOC

ITRIAGE

NIKE TRAINING CLUB

(Health>News)
 

2. Sell credit cards to your patients?

Major banks like Citigroup= CitiHealth Card

General Electric = CareCredit Card
(have 140,000 healthcare providers already signed up)

JP Morgan Chase = ChaseHealthAdvance Card

***

Advantages to providers:

*Patients can pay instantly for care.

*Patients can pay for medical services that their insurance doesn't cover---like plastic surgery, veterinary bills, and cancer care.

* Saves doctors billing
 + collection problems.

* Can charge full cost
   of a procedure up
   front.

* Cards 0% interest
   first yr. then 25-
   30% after that.
 

Borderless Humor


"The early bird might get the worm, but the second mouse gets the cheese."
 

Goals - Plans


Teach your kids:

--
business principles,
--moneymanagement,
--creative thinking,
--entrepreneurship,
--self-discipline,
--integrity,
--decision making,
--independence,
--kindness,
--respect,
--truthfulness,
--humility,
--goal setting,
--faith in God,
        and
the power of money
 

Inspiration Time


"It's not who you are that holds you back, it's who you think you're not."

---Denis  Waitley
 

Views I Only Share With My Friends--


What my medical career taught me.......
Click Here ... and how it can help you manage your medical practice business at the highest level of expertise.
 

 Facts And Stats


1. Even the loud mouth supporter of the Democratic party, Howard Dean, M.D. admits that the Affordable Care Act Rate-setting won't work. (WSJ 9-5-13)

2. Medicare increasing readmission penalties for hospitals puts about 3,400 hospitals at risk today. Software for avoiding such penalties has been developed for predicting patients that are readmission risks.

Last year 2,214 hospitals were fined $227,000,000.

Two company startups have created that software and can be set up for $30K to $50,000 dollars.
Engineered Care Inc. and Predixion

(WSJ Aug. 8, 2013)
 

3. Your DNA genome:

--Scientists have identified 38 million variations of chemical letters in our DNA.

--That's 98% of estim. human variation in world.

--humans share about 98% of the DNA code that shapes development, health, personality.

--hereditary change of only one letter in code is known to increase risks of M.S.

(WSJ--Dec. 2012)

 

What Your Kids
Are Capable Of


Permit and help your kids to become assets...

When you want to understand what your modern day kids are capable of and have the ability to do, regarding starting a business of their own, then hit the link below and give yourself a dose of inspirational enlightenment.....

(CLICK HERE )

 

New Important
Notices


Protect your practice using the strategies in this
 Ebook, which  contains the keys to your medical practice survival.

"How To Rapidly Propel Your Medical Practice Income To Unlimited Levels In 6 Months"
 
Click Here When you need expert help and advice, and when........

arrow pointing to rightyou just don't know where to turn to get honest and reliable help with your battle to fight the external forces that compromise your practice revenue and growth.

arrow pointing to rightyou want to improve your medical practice income dramatically in a short period of time.

arrow pointing to rightyou prefer to find the means to reach your highest level of practice income and productivity.

arrow pointing to rightyou demand effective and reliable means for preventing the financial collapse of your medical practice.

arrow pointing to rightyou are determined to find ways to combat govt. fee restrictions that continue to increase.

arrow pointing to rightyou recognize that what you are missing in your medical business are implementation of business principles and marketing strategies.

arrow pointing to rightyou want to do it yourself and save a bunch of money.

arrow pointing to rightyou are sick and tired of putting up with what you are being forced into doing with your practice to stay afloat.

arrow pointing to rightyou are aware that no other physician author is making any effort to tell you what to do and how to do it effectively to reach your expectations you had for your medical career when you started.

arrow pointing to rightyou understand the severity of being in a business without ever being taught the business knowledge to run it profitably.

arrow pointing to rightyou insist on having a blueprint for your medical practice business that provides every key to your practice success at the highest level. 
 

References For Maximizing
Outside Income


best references for doctors who invest.......

For Investing advice:

1.Stansberry
   Research.com
   (Porter Stansberry)

2.The Palm Beach
   Letter--Mark Ford

3. Retirement Millionaire Newsletter.......
published by David Eifrig Jr., MD, MBA, Ophthalmologist, stock market expert.
(my choice)


Subscriptions
call 888-261-2693

Note: I have no personal or business connections with these references other than subscriptions to their publications.  I suggest them because I do think they have unique value for investors.  You decide.
 

My Other Medical Websites

www.healthcare
secretsrevealed-finally.com 

www.hushed-upweightloss
secrets.com

www.howtopropel
yourmedicalpractice
income.com 

www.medicalstudent
tips.com  

www.healthcare-toolbox.com
 

 

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  Dr. Graham and two corpsmen--Vietnam 1965      photo Dr. Graham 1977        photo Linda, Dr. Graham's wife        photo of Dr. Graham          photo Dr. Graham with his 5 medical practice associates   

Flight Surgeon Vietnam
1964-65    Dan-Curt-Dave

Diet Worked 1980

 My Wife Linda

Retired 1999

Our Medical Practice Group
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Curt Graham, M.D.
2404 Mason Ave.  Las Vegas, NV 89102
E-mail = cgmdrx(at)gmail.com
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