The Business of Medical Practice: Profit Maximizing Skills for Savvy Doctors [Hardcover]

David Marcinko (Author)

Book Description

ISBN-10: 0826113117 | ISBN-13: 978-0826113115 | Publication Date: July 2000

An interdisciplinary team of experts teaches newcomers how to open, staff, and equip an insurance-friendly office for patients and how to raise the capital necessary for it. This volume highlights moneymaking and money-losing strategies to lift your practice to new heights of success. The reader will become familiar with employee leasing options, management information systems and computers, managed-care negotiation skills, captivation rates and break-even analysis, and effective billing guidelines. Physician leadership skills are also reviewed. The book concludes with important asset protection strategies and the methodology to choose the practice enhancement firm that is right for you.

Editorial Reviews

Review

"This book is destined to become the classic practice management textbook for all physicians and is a must-read..." -- Antonio Silva, MD, MBA, Emory-Northlake Regional Medical Center Emory University-Goizveta School of Business, Atlanta, Georgia

Product Details

• Hardcover: 424 pages
• Publisher: Springer Publishing Company (July 2000)
• Language: English
• ISBN-10: 0826113117
• ISBN-13: 978-0826113115
• Product Dimensions: 10.1 x 7.1 x 1.2 inches
• Shipping Weight: 2 pounds
• Average Customer Review: 4.2 out of 5 stars  See all reviews (5 customer reviews)
• Amazon Best Sellers Rank: #2,604,507 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews

25 of 27 people found the following review helpful:

5.0 out of 5 stars Attention All Medical Colleagues!, March 9, 2001

By A Customer

This review is from: The Business of Medical Practice: Profit Maximizing Skills for Savvy Doctors (Hardcover)

Dear Medical Colleagues,

This book is a must read for all of us who are practicing in the current managed care environment. It is not important if you are an MD, DO, DDS, DPM, DC, vet or PHD, we are all negatively impacted, and the editor and his contributing writers explain why and what we all can do about it. Although it won't be easy or fast. Medical students will be astounded at the complexity of contemporary practice, as well.

The book is divided into three parts: qualitative, quantitative and the futuristic aspects of healthcare practice. But, I must warn you that if you are an employed doctor, rather than an empolyer physician, you will feel left out since you are a captive agent. At least the independent doctor still has some control left over his or her destiny; for now. Accordingly, Dr. David Edward Marcinko; MBA, CFP, and his team, explain how you can increase your revenues, decrease your expenses and operating assets, to increase your office's Return On Investment (ROI).

In the first section, number crunching, spreadsheets, managerial and cost accounting techniques rule. Normally, somewhat mundane, it is interesting how the author make these numerics "come-alive" when real dollars are attached to the figures.

In the next section on the other hand, the qualitative aspects of medical practice are reviewed. Such topics as negotiation skills, managed care contracting, IT systems, case management and UR are given their due, along with billing, legal, anti-trust, IPA, CPT coding and asset protection issues.

Finally, the authors project their opinions about healthcare in the future; which does not look good for any of us. In fact, I won't reveal their prognosticatons about the standard of fiscal care, medical ethics, or doctors acting like passive lemmings, but they are indeed so chilling that you will just have to read this thought provoking book for yourself.

If you are a doctor, and think you know all about managed care, you will be humbled by this fact filled tome. Not reading this book definately places your practice, profession and living in peril. Do not miss it. This editor is a real doctor and business professional.

8 of 9 people found the following review helpful:

5.0 out of 5 stars HELPING DOCTORS AND NURSES, October 25, 2000

By A Customer

This review is from: The Business of Medical Practice: Profit Maximizing Skills for Savvy Doctors (Hardcover)

Doctors are Not Business People-They are Physicians

It is well know that doctors and nurses, like many dads and moms, work hard at helping others but are poor business people themselves; especially in the new world of managed care, HMOs, PAs, etc.

Well, this doctor-editor, and his friends from the professions of health-law, medical-accountancy, insurance, securities, management and the investing and financial services leaders from Wall Street, have written a book to help out.

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.

After all, my mom (a nurse) and my dad (a doctor) say that if doctors and nurses can't make an honest living, they will leave medicine for more lucrative jobs, and then who will help us when we are sick?

Also recommended: "The Business of Medical Practice", by the same editor at Springer Publishing, New York.

9 of 12 people found the following review helpful:

5.0 out of 5 stars Buy it!, December 7, 2000

By A Customer

This review is from: The Business of Medical Practice: Profit Maximizing Skills for Savvy Doctors (Hardcover)

As both a doctor and an attorney, I work on both sides of the fence. I enjoy relationships, both socially and professionally with clients of both professions. Through these sources, I was referred to Dr. Marcinko's book.

I must say, being savvy is not what it used to be AND Dr. Marcinko has explained that. This author, and his authorities who have written chapters and supplements, take time to teach professions how to become 2000 savvy and actually expand rather than stagnate. The ideas are practical, not hypotheticals as we pose at trial or deposition. For my medical bretheren, the book looks at managed care through the eyes of one of us and exhibits the skills we will need to prosper in a speculative medical amangement environment.

For either profession, the insights are a wonderful addition for providing peace of mind.