Phoenix, MD (PRWEB) July 30, 2008
Physicians finish residency with high-level clinical skills, and often quite substantial debt. Their post-residency career decisions will affect their ability to practice medicine, job satisfaction, personal income, and family situation. Yet most lack a plan for evaluating their practice options, and few have any training in medical practice development or management.
"Regardless of the specialty or circumstances," says Marc Halley, co-editor of The Medical Practice Start-Up Guide, "every practicing physician is 'in business.' This new guide connects physicians with today's best practices for shaping, managing and growing that business." In fact, even physicians who prefer to join an existing practice will find the book contains valuable insights on making the most of how they personally practice medicine plus information that empowers them to contribute to the business know-how of their more established associates.
Based on real-world practice development expertise gathered through The Halley Group's extensive experience consulting with and managing medical practices, the book will benefit anyone involved in starting, building or maintaining a medical practice. Co-editor Michael Ferry adds that "even if your interest in the business side of medicine is limited, learning these basic rules and best practices in the short term might just save you significant headaches and a lot of money in the long term."
For example, The Halley Consulting Group reveals four critical decision factors that drive success of a medical practice. Halley advises that "if a policy, procedure, method or decision can't pass all four, it should be reworked, modified or discarded." Key performance indicators are included in the book to help maintain practice growth. In addition, tactical guidance covers practice promotion basics that should be an ongoing part of practice development. Also included is a plain-English review of federal labor laws physicians must follow.
Greenbranch Publishing President Nancy Collins says the book is particularly valuable since it "thoroughly covers what's needed to plan well, confront most challenges, quickly develop the practice -- all to enjoy the fruits of success, sooner rather than later."
Halley agrees, adding that "starting a medical practice properly requires tremendous time, energy and personal commitment on the part of physician, manager and others. This guide will be an invaluable tool in fast-tracking the development of the new practice."
The Medical Practice Start-up Guide
Table of Contents
Chapter 1: The Practice Choice Entrepreneurship vs. employment: How to decide what's best for you
Chapter 2: Planning, Financing and Protecting your Business: Set yourself up for success, get the money you need, and cover personal and business assets.
Chapter 3: Facility and Site Selection: How to find space that offers optimum accessibility, productivity, profitability and quality of work life.
Chapter 4: Credentialing: What Is It and Why Do It?:t Establishing relationships with government payers and private insurance carriers.
Chapter 5: Technology Needs Analysis: How to choose systems that will enhance -- and not challenge -- your practice.
Chapter 6: Staffing and Human Resources: How to use federal labor laws to make the most of your greatest asset -- your employees.
Chapter 7: New Practice Promotion: How to fast-track a busy practice by making the best use of the most powerful marketing tools.
Chapter 8: Preparing for Operations: How to optimize facilities, equipment and human resources to deliver high quality care.
Chapter 9: In Business : How to solve performance problems and keep your practice running smoothly -- and growing.
"Sound practical information...written and organized in a way to allow those new to medical group management to recognize immediate benefit. Should be required reading for all newly graduated physicians and medical practice staff."
Fredrick A. Creighton, MHA, FACMPE, FACHE
CEO, Department of Medicine
Case Western Reserve University
"Marc Halley's new book is spot on what is currently happening in every doctors office across the country. A must read for anyone who wants to keep their head above water and their business solvent."
Larry Kaskel MD
Host of "The Business of Medicine"
on Reach MD XM 157
"As I travel throughout the US working with physicians, I am struck that their major complaints about residency are not about grueling hours or failure to learn judgment and technique. Their most common complaints, by far, are that they feel poorly prepared to deal with the practice of medicine. Marc Halley's latest book on starting a practice is loaded with practical suggestions about employment vs. entrepreneurship, practice location, family issues, competition, payer considerations, and financial performance evaluation.
"Becoming familiar with the topics in this book will facilitate physicians' becoming more comfortable with one of their most important life decisions- how and where they will practice. My only regret is that Marc Halley did not write it in a previous century, so that I could have read it before I took my first job!"
Kenneth H. Cohn, M.D., MBA, FACS
Author of Better Communication for Better Care: Mastering Physician-Administrator Collaboration and Collaborate for Success! Breakthrough Strategies for Engaging Physicians, Nurses, and Hospital Executives. Editor, The Business of Healthcare.
About the Authors
The Medical Practice Start-Up Guide is written and edited by Halley Consulting Group, LLC, President and CEO Marc Halley and Vice President of Operations Michael Ferry. The Halley Consulting Group draws on more than 100 years of combined experience consulting with and managing independent physician-owned and hospital-owned practices, primary care practices, internal medicine subspecialty groups and surgical practice specialties. Clients include covers rural, busy suburban group, and inner city practices, as well as large, hospital-owned networks with 40 or more locations.
As both managers and implementers, members of The Halley Group have recruited new physicians, started new practices and new hospital-owned medical practice networks, formed and merged several small group practices, evaluated individual practices, large medical networks, billing offices and physician compensation models. They have helped turn around the performance of several practices and networks that ignored correct operating principles.
About Greenbranch Publishing, LLC
Headquartered in Phoenix, Maryland, Green branch Publishing, LLC, is a privately held firm founded in 1998. The company is a leading publisher of medical practice management titles, electronic media and audio conferences for physicians, practice administrators and office practice managers. More information can be found at http://www.mpmnetwork.com, http://www.mpmbuyersguide.com, http://www.soundpractice.net