Customer Reviews

2001 Financial Planning for phsycians & hc professionals

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When I first purchased this book, I thought it was just another pricey self help tome, written for self indulgent doctors, by a novice editor. Boy, was I wrong. This text, with CD-ROM, is a real masterpiece, written by professional CPAs, MBAs, JDs, CFPs, and even physician executives, all who have years of experience working with medical practitioners, IPAs, PPMCs, or MCOs of all types. The doctor-editor even has an MBA, is an insurance agent, securities advisor and is a board certified surgeon and finacial planner.

The book itself is divided into two parts: (1) medical practice finacial planning and (2) personal finacial planning. For, it is Dr. Marcinko's opinion, that in-efficent practices will no longer generate the free cash flow needed for personal planning endeavors. In the current managed care environment, he indeed may be right....

For example, the book augments the traditional financial plannig disciplines of budgeting, taxation, investing, insurance, retirement and estate plannig, with the new realities of managed medical care. These previously unaddressed topics include: office based managerial and cost accounting, marginal revenue and cost concepts, negotiating skills, asset protection, office computers, software and MIS, risk management and a host of legal landmines, including OSHA, Stark I and II laws, anti-trust, insurance fraud and abuse, HMOs, MCOs, PHAs, etc.

This book is so easy to read, fact filled, and stream lined for doctors, that I consider it a must read for all medical professionals. Rather than being overpriced, it is really under valued relative to the cost efficiencies it will bring to your practice and life. Without a doubt, this book will make you money, and save you even more. Don't go to the office, or through life, without it.

This book is a wonderful new addition to the libraries of those of us who are health care professionals and are trying to deal with the daily changing of medicine and economics. As all of us who practice medicine know, our practice time has increased while our economic gains have failed to keep pace. In fact, most of us are at a net loss over the past few years if you extrapolate your earnings per hour of work. But as dedicated doctors we strive to provide the best care for our patients regardless. Dr. Marcinko's book provides alternatives to traditional thinking and helps you see light at the end of the tunnel. Wonderful ideas and many practical thoughts for us to work with today so that tomorrow is a little better. Highly suggest this to all my colleagues.

A Senior Healthcare Executive, October 23, 2000

Doctors are NOT Poor Business People

It is well know that doctors and nurses are poor business people, especially in the world of managed care. Well, not this editor or his contributing authors; all from the fields of law, accountancy, medicine, insurance, securities, business, management and the investing and financial services professions.

Not only does the first section of this book review medical office practice management tips, but it also teaches physicians how to profit more from their toil. Then, the book relates best practices to invest hard earned money in the sectors of risk management, budgeting, housing, automobiles, college educaton, taxation, investing, retirement and estate planning.

URLs and information resources abound, and the CD-ROM is a fabulous guide giving 'real-life' examples for the above topics. Physician and healthcare provider specificity makes this major textbook a 'must read' for all medical professionals.

Table of Contents Preface About the Editor About the Computer Disc Disc Contents Contributing Authors Ch. 1 Setting Up a Medical Practice Ch. 2 Office Business Equipment Ch. 3 Business Decision-Making in Medical Practice Ch. 4 Practicing Medicine in the Era of Managed Care Ch. 5 The Economic Fundamentals of Financial Planning Ch. 6 Essentials of Risk Management and Insurance Planning Ch. 7 Personal Financial Accounting and Income Taxation Ch. 8 Medical Office Tax Reduction Strategies Ch. 9 Introduction to Investment Concepts Ch. 10 Portfolio Management Ch. 11 Principles of Asset Protection Planning Ch. 12 Elements of Retirement Planning Ch. 13 Techniques of Estate Planning Ch. 14 Planning for Special Situations Ch. 15 Selecting a Financial Advisory Team Glossary of Terms Additional References Web Sites of Interest National Association of Securities Administrators and Associates 1999 Member Index Representative List Index

Also recommended: 'The Business of Medical Practice' Springer Publishing Same Editor.

Thank you.

It is well know that doctors are poor business people, especially in the world of managed care. HMOs are killing all of them, and possibly us as well. Well, not this editor or his contributing authors; all from the fields of law, accountancy, medicine, insurance, securities, business, management and the investing and financial services professions. Not only does the first section of this book review medical office practice management tips, but it also teaches physicians how to profit more from their toil in an honest and ethical fashion. Then, the book relates best practices to invest hard earned money in the sectors of risk management, budgeting, housing, automobiles, college educaton, taxation, investing, retirement and estate planning. URLs and information resources abound, and the CD-ROM is a fabulous guide giving 'real-life' examples for the above topics. Physician and healthcare provider specificity makes this major textbook a 'must read' for all medical professionals.

Also recommended: 'The Business of Medical Practice' Springer Publishing Same Editor