"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.

Accompanying CD-ROM contains ... "bonus materials."--CD-ROM label.

Physicians and other medical professionals today must acquire far more business knowledge than they did even a generation ago. Whether you are directly involved in a medical practice acquisition, sale or merger, or you are a consultant or hospital executive needing to know more about the acquisition process, you must understand how to arrive at a fair valuation, negotiate a sales price and complete a successful deal. To gain this knowledge, you need a comprehensive reference book that explains situations, provides helpful case studies and answers your questions. In Buying, Selling & Merging a Medical Practice, successful medical management consultant Kenneth Hekman has compiled an all encompassing sourcebook that contains the explanation, techniques and proficiencies necessary to send you to the negotiating table well-equipped to complete a successful deal. Hekman covers the entire subject of buying, selling and merging medical practices by presenting its component parts in clear, concise language.

"This resource provides in-depth information on the fundamentals of strategic practice management and future planning for the medical practice in the areas of selling, closing, and valuation"--