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Medical Practice Business And Marketing Articles

Article #I - Jun. 2009


“Backup Plans For Your Socialized
Medicine Career?”

Smart to have medical practice options when the time comes.

Think in terms of alternative income, not alternative medicine.  Any doctor with a two-lobe brain can hear the railroaded socialized medicine train coming down the tracks.  Of course, if you believe in miracles, your mind may have a sense of peace... waiting to see if one shows up.

So, what plans have you made for backup income when the “fit hits the shan” and you are herded into the pasture of healthcare providers where your status of “physician” is no different from that of any mid-level healthcare provider?  Sound cynical?  Is there any reason to believe differently?

Let’s look at a few ideas about the cure for a fading income problem all doctors already have, and will certainly get much worse.

1.   Active income... You work harder and longer and make
  more money. It’s what you’re doing right now.

2.   Passive income... Where you keep earning income without
  working. It’s what everyone needs, but rarely does
  anything about it.

3.   Alternative income... You work hard doing something other
  than the practice of income.  In other words, you get
  a new career.

4.   Parallel or blended income... Where you earn passive or
  active income while you continue with your practice. 
  Say, two jobs.

Logically, if you work two jobs, you can earn a larger income.  But, how long are you able to tolerate that schedule?  Or, face complete burnout?

If you are an employed physician you must already be aware of pension plans disappearing overnight.  Assuming you would like to retire some day, you may not even be able to get social security checks. 

I hate to mention it, but, in the new era of socialized government run healthcare, increased control and restriction of your office fees, and outrageous malpractice premiums do you honestly believe you will be able to fund a retirement plan, send your kids to college, or lay claim to a professional lifestyle?
 

Proposals for increasing your income to consider while stuck in this hole...

  • If you are just starting your medical practice, it would not only be smart to, at the same time, be investing time and money in the development of resources outside of healthcare for earning passive income.
     

  • If you have a passion, hobby, special interest you have always been dabbling in for years, expand it into a money making
    business immediately.
     

  • Encourage you children to think in business terms about everything. Teach them responsibility and finances.  Have them begin an Internet business as a teenager … even as an adult.
     

  • Have your spouse start an Internet business immediately so that ten years from now you will have a nice multiple stream of passive income in the works.
     

  • Re-train in a more income productive medical or surgical specialty if you can overcome your inertia and step out of your comfort zone.
     

  • Marketing your medical practice, pedal to the metal, NOW.

If you are not Internet, marketing, and online business savvy now, or never intend to accomplish these essentials, you will not be in your business
long... plan on it!

Within 10 years, 90% of all business will be done over the Internet, including the medical practice business (not medical practice).  Every expert in business predictions says so. 

The experts also say, if you believe them, multiple streams of income is the only realistic means of surviving drastic changes in our economy as well as radical changes in the healthcare system.  It makes financial sense.  After all, diversity in the stock market has been advised for decades for
the same reasons.
 

It’s time to get serious about protecting your medical practice business!

As your mind scanned through the income proposals above you probably noticed you would never consider several of these options.  Some because of your inability to fully understand what is possible and can be done—it’s just the decision to do it that holds you up.  Others, because of your resistance to change anything is so extreme (locked into the mediocre
acceptance tradition).   

Every successful business owner, business coach, or business consultant will tell you that success involves more than just struggling against the odds.  It involves your inner-self changes that must be made far more than external pushing.  Your “self image” is a critical part of it. 

Please obtain the book “The New Psycho-cybernetics” by Maxwell Maltz, M.D., plastic surgeon, and you will quickly begin to understand that you have the power and means to change anything in your life.  This classic has changed millions of lives already.
 

What to do immediately… even when and if the Healthcare Socialized Medicine law is never repealed... 
(It ain’t over yet!)

  • Make every attempt, whatever it takes, to begin marketing your medical practice—learn and do. Hire someone to help you, even us. Or do it yourself.
     

  • Become computer literate, if you’re not already.
     

  • Become Internet literate, how to use it and find things.
     

  • Learn enough about Internet small business to start one
    yourself, even if it is a part-time fun thing to do, or just a
    hobby. You’ll get hooked.
     

  • Incite your kids into starting an internet business. Many
    teenagers are already earning a living on the Internet
    ... a fact!  They might get to the point they don’t need a
    college education to be successful. You might even avoid
    having to pay for a college education as well. 

    It’s amazing how many college students have such an income producing Internet business going they quit college and earn much more than most college graduates ever earn.

COMMENT

Any physician who intends to stay in medical practice should make it a priority today to set some marketing and financial goals which can be worked on for years to come.  The longer you do it the easier it gets.  I can tell you that it’s considerably easier than memorizing all the origins and insertions of every muscle in the human body.
 

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.

Discover what it takes for you to reach the optimal limits of your potential in medical practice, and how to do it: Click The Link NOW!
www.howtopropelyourmedicalpracticeincome.com

© 2004-2011, Curt Graham M.D., All rights reserved.

Word Count = 975

Keywords = marketing, marketing medical practice, medical practice marketing, socialized medicine, medical practice, small business, Psycho-Cybernetics

 

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