The Medical Entrepreneur: Pearls, Pitfalls and Practical Business Advice for Doctors (2nd Edition)Paperback
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- Publisher: Nano 2.0 Business Press
- Format: Paperback | 238 pages
- Dimensions: 152mm x 228mm x 18mm | 340g
- Publication date: 16 December 2010
- ISBN 10: 0615407137
- ISBN 13: 9780615407135
- Illustrations note: black & white illustrations
- Sales rank: 856,620
This is the new second edition of the most popular business and practice management book for physicians, students and residents. Second edition contains new material for the same low price. The second edition includes a new part III section and includes pearls and proceedings from the 2012 Medical Entrepreneur Symposium. Tip for Doctors & Medical students: You should read this book before signing any contract, joining a medical practice or starting a medical practice. 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. The book provides tips, steps, pearls, and pitfalls written in a concise manner. 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.
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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 in 1989. He spent two years training in internal medicine at the University of Michigan in Ann Arbor. Dr. Hacker completed his dermatology residency at the University of Florida in Gainesville in 1994. By the time he had completed all his training, he had published over twenty peer-reviewed medical articles in medical journals. Dr. Hacker also co-authored several textbook chapters in clinical medicine textbooks. As of the writing of this book, he has incorporated ten different businesses. Dr. Hacker is a board certified dermatologist in private practice in Boca Raton, Florida since 1994. Within ten years of starting his practice, he had a patient database of over twenty-five thousand patients. At the end of 1996, Dr. Hacker founded a company called Skinstore.com (now owned by Walgreens). Skinstore was one of the first Internet sites to sell physician-recommended skin care products (cosmeceuticals) online. Skinstore organically grew to one of the biggest online skincare sites. The company, under new management, went on to achieve cumulative lifetime revenue of over $200 million since inception. 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 Mediconnect Global). 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. Many people still use the award-winning health record software he created. In this book Dr. Hacker shares the lessons learned from both the mistakes and successes he has experienced in creating a medical practice and entrepreneurial ventures.