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How does a medical practice thrive in a business environment where the margin of management error has all but disappeared? Profit margins are being squeezed by declining reimbursement rates, capitation plans, gamesmanship on the part of the payors, and increasing operating costs. Addressing the specific needs of today’s medical practice, Medical Practice Business Plan Workbook, Third Edition supplies a detailed and ordered work plan to tackle some of the most pressing issues facing the field. Peter D. Lucash delves into decades of experience helping physician groups develop business plans to guide you along the process of building the profitable practice you want and deserve. This updated edition of a bestseller begins with a review of the fundamentals, including the questions your plan should answer, how to get started, how to organize and develop your plan, and the staff support and resources you will need. Complete with a wealth of helpful sample plans and worksheets, this workbook: Reflects recent changes in the healthcare industry, including federal healthcare reform Offers a one-of-a-kind design and approach tailored to the medical practice Covers conceptualization, organization, and implementation of your business plan This updated edition reflects current and forecasted challenges for practices, including the Affordable Care Act, data security, and quality and outcome measures. It supplies detailed coverage of the different types of organizations, governance and management, personnel needs, key business relationships and contacts, demographics and economic factors, patients as customers, competitor analysis, marketing, information technology, disaster and business continuity planning, and financial strategies. The final section outlines a process for implementing your plan. Sticking to this process will help ensure your plan covers what is needed to succeed in today’s complex medical environment. Visit www.Lucash.com for videos and other resources to help you develop and implement your practice business plan.
How does a medical practice thrive in a business environment where the margin of management error has all but disappeared? Profit margins are being squeezed by declining reimbursement rates, capitation plans, gamesmanship on the part of the payors, and increasing operating costs. Addressing the specific needs of today's medical practice, Medical Practice Business Plan Workbook, Third Edition supplies a detailed and ordered work plan to tackle some of the most pressing issues facing the field.Peter D. Lucash delves into decades of experience helping physician groups develop business plans to guide you along the process of building the profitable practice you want and deserve. This updated edition of a bestseller begins with a review of the fundamentals, including the questions your plan should answer, how to get started, how to organize and develop your plan, and the staff support and resources you will need. Complete with a wealth of helpful sample plans and worksheets, this workbook: Reflects recent changes in the healthcare industry, including federal healthcare reform Offers a one-of-a-kind design and approach tailored to the medical practice Covers conceptualization, organization, and implementation of your business plan This updated edition reflects current and forecasted challenges for practices, including the Affordable Care Act, data security, and quality and outcome measures. It supplies detailed coverage of the different types of organizations, governance and management, personnel needs, key business relationships and contacts, demographics and economic factors, patients as customers, competitor analysis, marketing, information technology, disaster and business continuity planning, and financial strategies. The final section outlines a process for implementing your plan. Sticking to this process will help ensure your plan covers what is needed to succeed in today's complex
The only book of its kind, Peter D. Lucash, a leading physician practice administrator, speaker/trainer & consultant, developed Medical Practice Business Plan Workbook: A Blueprint for Building the Practice You Want & Deserve as a practical user-friendly workbook that doctors & their practice managers can use to improve their business. Workbook is sized (7x10) & bound (paper, perfect) so users can open it on a desk, copy the worksheets & get the maximum value. Physican practices are a business & doctors are looking for practical, expert help to run their "business" the best they can. Designed as a workbook to be used, users are guided through 15 elements of analysis & decision-making to develop a business plan customized for their needs. Each section includes introductory discussion & a Writing Guide to help users to focus on the key tasks & decisions. Market this book through the local medical society, hospitals & medical management groups. The publisher will support you with a Marketing Tip Sheet provided on request & discuss effective, local & in store tactics that can bring this desired market. Workbook is co-published with MGMA (Medial Group Management Association) the largest & leading organization for medical practice management.
"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.
Forbes calls The Successful Business Plan one of the best books for small businesses. This new edition offers advice on developing business plans that will succeed in today's business climate. Includes up-to-date information on what's being funded now.
Essentials of Strategic Planning in Healthcare introduces readers to the factors influencing the strategic planning process in hospitals and other health services institutions today. Structured around a comprehensive case study and accompanying end-of-chapter exercises, this text places readers in the planner's seat, asking them to apply what they have learned to lead the hospital in the case study to success. Topics covered include: The role leadership plays in strategic planning Organizational factors critical to strategic planning Completing a SWOT analysis Analytical tools that support strategic planning Key data sources available to planners Strategic opportunities presented by pay-for-performance initiatives Communicating the strategic plan to multiple stakeholders Linking the strategic plan to operating performance Physician involvement in strategic planning Strategic planning initiatives across the continuum of care Hospital-physician integration models Factors affecting strategic planning in the post-acute care industry Jeffrey P. Harrison, PhD, FACHE, is an associate professor of health administration at the University of North Florida. Previously, Dr. Harrison held a wide range of managerial positions, including chief operating officer of a hospital, director of a large medical group, and leader at the health system level. He is founder and president of Harrison Consulting Group, Inc., a healthcare consulting firm.
Praise for the previous edition: "This comprehensive multi-authored text contains over 450 pages of highly specific and well-documented information that will be interest to physicians in private practice, academics, and in medical management. . . [Chapters are] readable, concise yet complete, and well developed. I could have used a book like this in the past, I will certainly refer to it frequently now." 4 stars Carol EH Scott-Conner, MD, PhD, MBA American College of Physician Executives Does Health 2.0 enhance or detract from traditional medical care delivery, and can private practice business models survive? How does transparent business information and reimbursement data impact the modern competitive healthcare scene? How are medical practices, clinics, and physicians evolving as a result of rapid health- and non-health-related technology change? Does transparent quality information affect the private practice ecosystem? Answering these questions and more, this newly updated and revised edition is an essential tool for doctors, nurses, and healthcare administrators; management and business consultants; accountants; and medical, dental, business, and healthcare administration graduate and doctoral students. Written in plain language using nontechnical jargon, the text presents a progressive discussion of management and operation strategies. It incorporates prose, news reports, and regulatory and academic perspectives with Health 2.0 examples, and blog and internet links, as well as charts, tables, diagrams, and Web site references, resulting in an all-encompassing resource. It integrates various medical practice business disciplines-from finance and economics to marketing to the strategic management sciences-to improve patient outcomes and achieve best practices in the healthcare administration field. With contributions by a world-class team of expert authors, the third edition covers brand-new information, including: The impact of Web 2.0 technologies on the healthcare industry Internal office controls for preventing fraud and abuse Physician compensation with pay-for-performance trend analysis Healthcare marketing, advertising, CRM, and public relations eMRs, mobile IT systems, medical devices, and cloud computing and much more!
Mohs Micrographic Surgery, an advanced treatment procedure for skin cancer, offers the highest potential for recovery--even if the skin cancer has been previously treated. This procedure is a state-of-the-art treatment in which the physician serves as surgeon, pathologist, and reconstructive surgeon. It relies on the accuracy of a microscope to trace and ensure removal of skin cancer down to its roots. This procedure allows dermatologists trained in Mohs Surgery to see beyond the visible disease and to precisely identify and remove the entire tumor, leaving healthy tissue unharmed. This procedure is most often used in treating two of the most common forms of skin cancer: basal cell carcinoma and squamous cell carcinoma. The cure rate for Mohs Micrographic Surgery is the highest of all treatments for skin cancer--up to 99 percent even if other forms of treatment have failed. This procedure, the most exact and precise method of tumor removal, minimizes the chance of regrowth and lessens the potential for scarring or disfigurement
First Edition Awarded Second Place in 2013 AJN Book of the Year Awards! The second edition of this award-winning text, designed specifically for the DNP course in health care economics and finance, remains the only book to embed economic and financial concepts in the context of nursing practice and nursing health care systems. Well organized and clearly written, the second edition is updated to encompass key changes to reimbursement and health care regulations and provides revised statistics throughout. It offers new information on ambulatory care, cost and ratio analysis, additional examples of financial statements, and an updated sample business plan. Enhanced teaching strategies include real life case studies, challenging critical thinking questions, learning games, key words in each chapter, and an extensive glossary. New PowerPoint slides add to the text’s value as a robust teaching tool. Written by experienced DNP executives for DNPs, the book emphasizes critical skills nurse leaders need to participate in strategic health care planning. It delivers a practical approach to business, finance, economics, and health policy that is designed to foster sound business and leadership. The text clearly explicates the relationship between cost of care, quality of care, and ethics, and examines the economic and financial implications of evidence-based practice and quality. Also included is a special section on finance for independent practitioners. Additionally, the book delivers required competencies of the AACN Essentials and the AONE. New to the Second Edition: Updated statistics throughout New information on ambulatory care A cost and ratio analysis Additional examples of financial statements Updated business plan Enhanced faculty support PowerPoint slides