"A comprehensive primer on the business skills essential for physicians."- Kirkus Reviews"A doctors' guide to entrepreneurship..."- Kirkus ReviewsThis is the new third edition (2015-2016) of the most popular business and practice management book for physicians, medical students and medical residents. Thousands of doctors and entrepreneurs have bought this book before joining a group or starting their own practice or entrepreneurial venture. The brand new third edition contains NEW FORMATTING AND NEW MATERIAL for the same low price as past editions. This third edition includes a bonus section to help entrepreneurs and doctors source out specific vendors' and their products and services to get a jumpstart on your business or medical practice. WARNING AND ADVICE for Doctors & Medical students and entrepreneurs: BEFORE JOINING A GROUP PRACTICE OR STARTING A NEW BUSINESS, DO NOT SIGN ANY CONTRACTS UNTIL YOU HAVE FINISHED READING THIS BOOK.This book is written to help doctors, medical residents, medical students, and physicians in private practice and academia avoid costly business mistakes in their post medical school career. It is uniquely written from the perspective of a successful physician entrepreneur. Busy doctors with little time can quickly access critical cost saving information when joining or starting a private practice. Topics include everything from how to set up a practice, sign a contract with another group, hire another doctor, contract with insurance companies, understand health regulations including the HITECH stimulus act, how to qualify to receive stimulus funds, billing in the office, hiring and firing personnel, picking a location, obtaining hospital privileges, applying for the required licenses, electronic health records, practice management software, health technology in the office, how to protect your estate, liability issues, marketing and public relations, design of the medical office and more. Also written for the physician entrepreneur, the book explains how to raise capital, term sheets, understanding venture capital, board of directors, incorporation election issues, how to understand financials, balance sheets, negotiations, hiring the management team, how to take an idea and turn it into an operating business, how to protect your intellectual property, copyrights, trademarks, patents, customer acquisition and how to deal with a business when things go wrong. The book covers much more and includes expert "stat consults" or opinions from corporate attorneys, intellectual property attorneys, board certified health care attorneys and estate attorneys.
Steven M Hacker, MD was one of twelve students selected from a national pool to enter medical school early through the prestigious Junior Honors Medical Program. He graduated from University of Florida medical school. He spent two years training in internal medicine at the University of Michigan in Ann Arbor. Dr. Hacker returned to Gainesville and completed his dermatology residency at the University of Florida By the time he had completed all his training, he had published over twenty peer-reviewed medical articles in medical journals, and co-authored several textbook chapters in clinical medicine textbooks. As of the writing of this book, he has built and sold many well known companies and holds several patents for inventions in the fields of electrical engineering, chemical engineering and electromagnetic resonance theory. Twenty years ago, Dr. Hacker founded Skinstore.com (now owned by Walgreens). Skinstore was one of the first Internet sites to sell physician-recommended skin care products (cosmeceuticals) online. Skinstore grew to one of the biggest online skincare sites. In 2004, five years before President Obama started talking about electronic personal health records, Dr. Hacker created a personal health record company called PassportMD (now owned by Verisk Analytics). PassportMD was selected by Medicare for its personal health record pilot program. It was recognized as one of the top personal health record companies in 2008 by the leading electronic medical record industry trade show. Dr. Hacker negotiated marketing and partnership deals with Microsoft Healthvault and many other Fortune 500 companies. Dr. Hacker sold the company in 2009. In this book Dr. Hacker shares the lessons learned from both the mistakes and successes he had experienced in growing a medical practice and creating unrelated entrepreneurial ventures at the same time.
