Medical Practice Business Ezine Newsletter  Oct. 2014

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"Advanced Medical Practice Business And Marketing Profitability Strategies"

Discover how to increase your medical practice income fast and efficiently using the right revenue tools!

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Are you losing your private medical practice because you canít earn enough to keep it open?
If so, itís because you have never had a formal business education!  ďTheyĒ taught you how
to practice medicine, but not how to run a
business profitably.

We are talking about OFFENSIVE actions,
not Defensive actions.

You obtain these simple business lessons and advice on this site!

Article #58 - Oct. 2014

ďWhatís the One Thing About Medical Practice Today That Causes You the Most Personal Misery and Disappointment?Ē

Itís not because you arenít intelligent, donít
have great medical skills, or donít have passion enough
to make it in the profession, but because you were never provided with the universal business tools all other businesses know how to use, and you donít.

     To get into the mood for making some judgments and maybe some decisions about your private medical practice situation I want you to sit down and ask yourself a few very common questions that I hear over and over from physicians.

1.    Why is it so difficult for me to earn enough money in my practice to pay for the things I need to do for my family
and with my practice?

2.    What can I do when I see my medical practice income steadily decreasing and I have no idea how to prevent it from happening or reverse the trend, especially when I work harder, see more patients, and it doesnít help?

3.    I have a strong desire to remain in private medical practice and not have to become an employed doctor to survive
in medicine, so how can I make
that happen?

     Youíll notice that all three serious questions have
to do primarily with your ability to earn enough
income to remain in control of your career. And that issue is at the core of the over 50% of doctors who admit that they are frustrated and disappointed with their practice and career.

     Obviously, if you were able to earn the level of income that would compensate you comfortably well, enable you to pay for all your family needs and your medical practice needs, you certainly wouldnít have much to worry about or struggle for.

     You never signed up for professional poverty when you got into medical school, right? Your expectations for your career were no different than mine. But now you find that all those expectations need to be
lowered. All those goals have to be modified
downward. Your future in medical practice
seems bleak.
 
     Half of the medical profession in private medical practice today are experiencing the same thing. You likely donít see much chance of the medical profession offering you anything better than what you are seeing today and probably over time, even less.

      Those medical educators must have figured that your passion for practicing medicine would overcome
all of these problems and barriers.

     None of them ever mentioned the importance of having a business education because they were too busy stuffing medical information into your brain to even mention it to youóhalf of which you will never use in practice. Thatís a sore point too.

     There are surveys today that reveal over 50% of medical doctors are employed by one entity or
another. A large number of those are doctors that
were financially failing in medical practice, saw the future for their practice disintegrating before their
eyes, and made the only choice they could make and stay in the profession.

     They sold their practices to the local hospitals or closed their doors, after they found a job somewhere
in the HMO industry or hospital environment.
 
     From there on employed doctors are no longer in control of their medical careers. They arenít in control of their income or what they are allowed to do
in medicine. The employers dictate what is best for their employed doctors that will increase employer revenue. I know about that after my over 2 years employed at Kaiser Permanente.

     These rather harsh examples of what is happening in medical practice today, are things most donít want
to hear or think about.
 

Your medical future does not have to be dependent on employment, jumping ship, or putting your own spouse and kids to work...

     The way up the ladder, not down, is well within
your reachóbelieve me. You simply need to do some digging into the business literature readily available today, much of it for free.

     Your intent should not be to become a guru of marketing or of business principles. You just need to pick out one or two business strategies that fit your practice situation and your determination to do them and watch the impressive results.
 
     The strategies and tactics are not difficult to learn
or to do. Iím going to put up a page on my website
that lists the business books I recommend you read, and Iíll list them in the order of what I consider the most critical for you to read first.

     Even if you quit medicine and start a shoe store
the information fits that too. At least then you donít have to run around looking for someone to tell you what the read. I use the books and what I recommend you read myself, so Iím aware of their value to you.

     My new book encouraging medical schools to provide an academic business education for all medical students, would be a major shift for medical education and great value to medical students. But now Iím deciding how to help other doctors who are in private practice and suffering from the fee restrictions and mandates required by our government.
 
      Up to this point private practice doctors have used only defensive strategies to combat those government intrusions. Why? Because doctors are left stranded in
a business world that they are left out of for lack
of knowledge.

     Can you believe that the medical education hierarchy has for a century left the business of
medical practice out of the medical education, in spite of the fact that medical practice is half of the private practice of medicine business.
 
     Can you believe that these academics likely know what theyíve done all along and yet take no responsibility for offering or providing it to students.
Itís a professional insult to every medical doctor and
an outrageous mistake being made... and is my belief!

     Would you send a soldier into combat with his rifle and no ammunition? Thatís the way I think about this egregious stand of the medical school academics.
What angers me the most is that a business education can be added to the medical curriculum easily by
simply using the digital media formats to learn
business and not interfere with the normal
medical curriculum.

     I know that any medical doctor can promptly reach
a point where they can do whatís necessary to
increase or decrease their incomes at any time they please and for whatever reason they choose just by reading a few business books and follow the advice offered there. Hell, if you canít read, then I can coach you through it. Iím dead serious.
    
Some important benefits I believe you can follow...

     Thereís always a few rules to follow, some understandings you must consider, and a bunch of things
to be aware of while taking on the work of making a lot more money in your medical practice... and get yourself out of professional poverty even if you arenít there yet.

1.    It takes a good knowledge background of the business and marketing choices you intend to use, before you start to implement them. So take a few weeks or months to do that. You might be a slow reader or have delayed synapses.

2.    You must get rid of your ďknow it allĒ arrogance before doing anything about your practice. The greatest mistake I see being made by private physicians today is to disregard good business advice, and to a half-assed job with the adviceóthen expect wonderful results immediately, or quit.

You certainly didnít go through medical school that way, so donít do it here. Be convinced first that what you are advised to do will work and it will (supernatural mind function).

3.    Nothing in business is done well without preparation and planningóso itís a slow process. If you donít have any patience, quit. Let other doctors get ahead of you. If you start a marketing campaign to get new patients, donít expect to see results of it for 3 to 6 months.

In business you are selling somethingóyour medical services. You have to get into patientís minds and it takes 6 or so injections of information for them to come in your door.

4.    You should never do more than one business project at a time. Mixing them will make you more frustrated than you are today. Once you are seeing good results, increase the pace of
that project.

If you send out a thousand postcards to potential patients in your area and get one new patient, change to another strategy. If you get 10 or 20 new patients, you have a gold mine to keep miningósend 5000 postcards to a new list of potential patients and confirm the success. There are always patients looking for a new doctor or to
change doctors.

5.    All business and marketing projects and strategies that are successful for you, you must continue for as long as you practice medicine. If you stop, you go back to professional poverty. Intermittent efforts of doing marketing
are masochistic.

By persistent efforts with working projects you will always have new patients coming into your office forever, and in increasing amounts over time. Otherwise, you have to rely on referrals for new patients, which means doing some professional brown-nosing to make it work well enough.

6.    It means that you not only have to maintain a cutting edge on medical education, but also on business strategies.

    The business principles never change, but the world of business strategies frequently change. If you send a thousand emails to all your lost patients to get them back, you are wasting your time and money.

If you send a thousand postcards to those patients, you may get a few back. If you send a thousand personal letters to those patients, hand addressed envelopes, your real signature on the letter, you will get at least half of them back. Direct Mail is always the most effective and responsive method
every time
.

7.    There are about 6-8 good methods of marketing, so you have to know what they are, try them out in your practice, find out which works the most productively for your medical practice.

These methods are just as useful and lucrative at any stage you are in in medical practice. But if you want the maximum benefit from marketing you would have to begin marketing your medical practice whenever you begin your new medical practice.

8.    You have to have a means of measuring how effective your marketing project is. It means you have to have a method of tracking the elements and results of the process. For example, if you intention is to obtain 10 new patients per month, you need to record who they are, how they found your practice, or who referred them to you.

So if you see that you are getting only 3 new patients per month and you want to get 10, then you must increase the marketing method covering more of the population of potential patients, accept the 3 as being good enough, or add a second and different marketing method at the same time.

9.    If you do nothing else in marketing your practice, you should at least be keeping a log of how many new patients you bring in to your practice from any source... and the number of patients who leave your practice each month (do it every time you transfer your patient records to another physician).

About 98% of private medical practice doctors never do this. This process must be a log book used to record the results... you canít remember these things and your staff is responsible to do this.

   10. You must have your medical office staff...
         all members... trained to participate in your
          marketing process because you donít have
         time to do it all effectively.

          The receptionist is the most important for
         help in keeping logs of marketing results
         because they are first to log in all patients
         normally. They just have to ask the right
         questions to the patients who are checking
         in, ďIs this your first visit with us?Ē, etc.
         
         In addition, the receptionist is the primary
         person for answering the phone, and has
         the first opportunity to screen the new
         patients when they call for an appointment.

    11.Remember, your knowledge of how to
         manage the business of your medical practice
         determines the effectiveness of your marketing.
         If you have no person or means of tracking
         patients, you will never really know the
         validity of your marketing results you are
         relying on.

         Itís troublesome and takes time to train your
         staff what to do if they happen to be greeting
         patients or taking phone calls of new patients
         and how to record the data needed.
 
           Also, if you lack the ability to properly manage
         a business or people you hire, you need to
         read books on how to do that or obtain a
         business mentor.

         If you are reasonably competent of managing
         people, then you must know the most
         beneficial ways to get the best productivity
         out of them, get them to cooperate, get them
         to work as a team, and make them feel like
         they are important to your practice,
         not afraid of you or being fired every day.

    12.Last for now, donít even try to increase the
         efficiency of your practice or income from
         your medical practice if you have not made
         an honest personal commitment to do so...
         no matter what.

handwritten signature of Dr. Graham   

 

 Business Nudges...

car in 1920s 
						packed with kids and luggage


 
Please remember: You have absolutely no reason to believe that you need to do anything different with your private medical practice than you are
already doing.

You can accept and continue doing what you now have functioning for you in your practice. At least you won't have to worry about the extra work it would take to improve your circumstances.

Nobody is pushing you. Nobody in medicine really cares if you choose to lag behind other doctors who earn lots more income than you.

You can relax your mind and live in the 1920s, travel with your kids in your old car to and from church or the grocery.

What you do with your medical education and medical career is your own business. Medicine is a business as you know. But you don't have any obligation to learn business principles, strategies, tactics, efficiency, productivity, and growth parameters.

As long as you understand that without a business education you likely will not get much further than you
are today no matter how hard you work, hours you spend in seeing patients, and how much you think you know about managing a business like medical practice.

All this happens while the world around you moves rapidly upwards and onwards.

No one expects that suddenly you will begin to see the light and teach yourself some business stuff, and that suddenly you'll get a burst of ambition and passion for improving your medical practice status in the one field you know much about... medicine. Those sudden surges of inspiration are rarely much help to you because they are short lived.

However, if you think in terms of a slow actionable transition up from your lower middle class lifestyle, you just might be someone who once makes a less than dramatic start, will discover as you move along that path of improvement, your need and passion for more business knowledge escalates. Why? Because you only see the value it has if you see the results of it.

You won't find the support from your family or others until you make your move to improve. People never seem to mind helping a struggling person on a mission. But, boy does that change when they "see" your goals and passions begin to show.

Just suppose you started reading a recommended book on business or marketing and then you start connecting what the author advises with things in your medical practice.

You begin to understand how just one idea from one book can resolve a problem you didn't think you had, and now find a good solution. Just one idea from each book added up will propel your practice growth slowly over a
year's time.

You will learn that you actually have far more capabilities than you ever imagined, once you begin, take action, or intentionally expose yourself to how capable you
really are.

This fact can be found in every single medical doctor today... problem is that most all of them never seem to release all those self-imposed restrictions they have adopted in life. You may have been told in the past that you will never amount to more than a "fart in a whirlwind." You may have listened to the idiot that said that to you, unfortunately.

Everything known in psychology of behavior tells us that the "comfort zone" destroys people and their capabilities. What all people need to understand is that your mind does not open up until you step out of your comfort zone. Then your mind presents you with the tools you need to expand your passions.

Whatever that force is, it exists only for those who move into new and strange areas of intentions. What happens when you finally decide to start skydiving? After the first jump, you can't wait to try it again, and never quit. Suddenly all those fears are eliminated. Somebody put those fears there... maybe you?

You don't have to believe me. Just ask around and hear what others have to say. How many people have to say it to you before you believe what I'm telling you? Yes, I've been there and done that.

Dr. Graham's signature

 

 Article #58-A

photo of Dan Kennedy, world-renowned business expert The Renegade Millionaire Way

by Dan S. Kennedy

"Being About Something More Than Chicken"

Each year, the Chick-Fil-A restaurant chain, famous for its tongue-in-cheek ads featuring cows urging folks to ďeat more chickenĒ,
has a Cow Appreciation Day. Customers who come in dressed up as cows eat and drink for free. Anybody wearing anything with a cow pattern Ė hat, cap, shirt Ė gets a sandwich free. Last year, 400,000 people came
in dressed up as cows
.

The guy who started this chain was a bona-fide Renegade Millionaire. Even though many of their shops are in malls, theyíre all closed on Sundays nationwide, because he believes in rest and time with family on the Sabbath. If a mall wonít let them close, they donít go in the mall at all. Hasnít hurt them.

In 2011, at mid-year, they were up system-wide by about 12% in same store sales vs. prior year, the chain is growing, the company profitable. I believe itís the founderís son running the show now. I saw him on Fox-Financial, cheerfully and goofily dressed up as a cow, pitching Cow Appreciation Day.

A lot of people let ego, often undeserved ego, stand in the way of achievement. They envy others their wealth, but arenít willing to totally put themselves out there to get it for themselves. On the other hand, a lot of people operate without underlying principles and a strong navigational system, so they are easily blown off course.

The folks running this particular company have clear,
firm values. One is that customers have fun. Thatís something missing from too many businesses: nobodyís having any fun. The experience of being a customer is, at best, ordinary; at worst, terrible.

I like to ask business owners what their business is about. What theyíre doing. Small-thinking shopkeepers always answer in terms of core deliverables. We clean carpets, we cut hair, we sell insurance. Slightly more sophisticated students of marketing tend to give boilerplate marketing message answers: we help people protect their financial futures.

Executives at big dumb companies usually quote the vaguest of mission statements. But thereís little juice in any of that. At one point, Trump set out to change the skyline of New York City. Well, thatís something. When you tell people thatís what weíre all about here, you can capture their imagination. That has juice.

I set out in 1975 to introduce more people to Ďsuccess educationí than any other person or company ever had, and I believe Iíve done that, although Iím not quitting
just yet. That has juice. And itís navigational; you can ask about everything you might do, is it fulfilling that purpose? Itís good to be about something significant and inspirational.

Then, when somebody asks you what you do, and you
tell them, they get that youíre about something interesting and will want to know more about it, may be interested
in helping you, or being a part of it somehow, if only
as a customer.

One of the essential ingredients of the Magnetic Marketingģ that Iíve taught is creating something that is magnetic. Most businesspeople are thinking too much about how to sell their stuff Ė not enough about to make
it and themselves magnetically attractive, so the selling
of stuff occurs naturally.

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.

https://gkic.infusionsoft.com/go/bodk/drgraham/Curt

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In Every Issue


My desire is to always offer you the business and marketing strategies that you will need if you ever wish to reach your maximum potential in the practice of medicine whether you are employed or in private practice.
 

Profitable Practice Tips


1. Sometimes fear overcomes clinical sensibility....

 Use of the laparoscopic power morcellator is being restricted, for removal of fibroids of uterus. All in the name of an unsubstantiated and unproven belief that the estimated 1/3000 occurrence of cancer inside fibroid tumors is spread by
the procedure.

You would think that research would have by now shown that sarcomas can be spread in lab animals simply by seeding the cancer cells in their abdomen. The myth continues.

Risks of laparotomy abdominal or vaginal removal of fibroids should also be the same risk because it is necessary to cut through benign fibroids to remove them from the patient rather often.

And we haven't yet seen all the risk data comparisons among patients who undergo laparoscopic procedures vs. abdominal laparotomy procedures, such as death, pulmonary emboli, etc.

I personally know of several laparotomy deaths and none related to laparoscopic procedures. No one denies that major surgery is far more dangerous to patients than minimally invasive procedures.

Perhaps patients would prefer to make that decision instead of
their doctor?

 

Borderless Humor

"Be careful about reading health books. You may die of a misprint."
---
Mark Twain
 

Goals - Plans

1. Career planning: Survey of 20,000 US doctors-- 71% say they would become doctors again and 50% would recommend it to their children. (WSJ, 9-16-14)
I'd like to know the ages and practice situations before I'll believe this slant of results.

The fact that 50% of physicians are in employed positions, have good incomes as a result, would believe that medicine can't be all that bad. Maybe 20,000 private practice physicians would likely reveal the reverse percentages. It takes a little suffering to bring out the truth.
 

Inspiration Time


"You must strive to become much less susceptible to influences outside of yourself and much more inclined to trust the instincts and feelings that lie within you."
         ---
Bob Proctor

 

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. If you have an opportunity to cash in on an investment with surgical instrument companies, drug studies with pharmaceuticals, or other medicine related industries, take it.

You better do it promptly because the money poor government is now digging into the illegal kickback moneys paid to physicians more than ever. And they will close that avenue of physician income soon, you can bet on it.

Drug and medical-device companies paid at least $3.5 billion to US physicians and teaching hospitals, just in the last 6 months of 2013.

There is no reason not to get your share of that legally.

2. Graduates in Business: Survey or 30,000 bus. grads showed that they have the least interest in their work than all other areas of graduate education. This must mean that there's a lot of mistakes being made in business today--somehow seems similar to doctor's situations.

 

What Your Kids
Are Capable OfÖ


Insist on 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 )

Teach your kids these thingsÖ

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

 

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...

red 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.

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

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

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

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

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

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

red 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.

red 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.

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

red 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 Your Practice Income

 

My Other Medical Websites

www.healthcare
secretsrevealed-finally.com 

www.hushed-upweightloss
secrets.com

www.howtopropel
yourmedicalpracticeincome.com  

www.medicalstudenttips.com  

www.healthcare-toolbox.com

www.medicalpracticecoaching.com
(pending)

 

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			lying on back with feet up in the air

 

 

 

 

 

 

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 photo-Vietnam me with two corpsmen     photo Dr. Graham early in practice       photo Linda, Dr. Graham's wife       photo Dr. Graham late in practice     my medical practice associates group

Marine Flight Surgeon Vietnam
1964-65    

1973 Private Practice

 Wife Linda 1985

1994 My office

My prior Medical Practice Group...
Graham, Mayo, Kaplan, Seibert, DelValle, Chuba

masonic insigniaAmerican flag        Curt Graham, M.D.
2404 Mason Ave.  Las Vegas, NV 89102
E-mail = cgmdrx(at)gmail.com
      © 2004-2015  Curtis Graham, M.D.,  All Rights Reserved.