September 30, 2008

The Business of Medical Practice: Advanced Profit Maximization Techniques for Savvy Doctors, 2nd Edition

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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.

New coverage in the second edition includes:

  • How to write a medical office business plan
  • Compliance methods
  • Risk and programs
  • The insurance CPT coding issues
  • Six-sigma initiatives
  • Futuristic information technology to track clinical outcomes
  • Treatment results and medical care
  • Physician recruitment

Customer Review: Excellent

Editor Dr. David Edward Marcinko, MBA, CFP®, CMP(tm)
Publisher: Springer Publishing Company
ISBN: 0-8261-2375-9
Format: Hardcover 494 pp
Review Date: August 4, 2008

This book was written to assist doctors, advisors and professional administrators help
manage medical offices in these tumultuous times. The multi-authored text contains information
on a broad range of topics affecting the medical practice. If its goal was to help maximize
medical practice efficiency and profitability, then it was achieved.

The book itself encompasses many topics – from healthcare economics, ethics and
CRM – to business planning, cash flow analysis, revenue enhancement and concierge medical services.
In addition, it offers actionable information on specific topics like linear-regression cost accounting,
IT systems, insurance claims, health-law, compliance and CPT coding, etc.
And, it is organized into three parts for easy reference; Qualitative, Quantitative and Contemporary
medical practice.

I found the book interesting, informative, precise and well written. Dr. Marcinko, and his team,
drives a dagger into the heart of medical management – first dissecting it – and then resuscitating it
for modernity.

As a CERTIFIED FINANCIAL PLANNER ™ looking forward to improving my understanding of the
healthcare space, I found this book more comprehensive than its peers. This extensive knowledge
helped me understand what really affects a medical practice. It is a fine read for the physician
and administrative professional interested in improving the profitability of any medical practice specialty.

Dr. Marcinko’s other clinical publications are archived in the Library of Congress, the Library of Medicine
and the National Institute of Health. In addition, this book has been referenced by multiple magazines
and associations, such as investment Medical Group Management Association (MGMA) and the
American Collage of Physicians Executive’s (ACPE).

Amaury Cifuentes
Certified Medical Planner(tm) candidate
3878 Sheridan Street
Hollywood Fl 33021

Customer Review: Refer to this Book Frequently

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. The previous edition has been updated and significantly expanded.

The book is organized into three sections: Qualitative Aspects of Medical Practice, Quantitative Aspects of Medical Practice, and Contemporary Aspects of Medical Practice. Appendices include sample management service agreements, and information on medical unions and public perception of physician salaries. A particularly useful feature is a brief biosketch of each contributor, complete with contact information.

I read with particular interest the chapters entitled “Medical Office Business Plan”, “Insurance Coding Guidelines”, “The Case for Concierge Medicine”, and “Dissecting a Medical Malpractice Trial”. Like the rest of the book, these were 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.

Reviewed by Carol EH Scott-Conner, MD, PhD, MBA

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