Book Introduction & Preface

BUSINESS OF MEDICAL PRACTICE

[Transformational Health 2.0 Profit Maximization for Savvy Doctors] 3rd edition

AVOID THIS HAPPENING TO YOUR PRACTICE

The first theme for this edition of The BUSINESS OF MEDICAL PRACTICE [Transformational Health 2.0 Profit Maximizing Techniques for Savvy Doctors] is collaboration. In fact, we believe that – regardless of medical specialty or degree designation – if you do not structurally and virtually collaborate in the coming health 2.0 tidal wave, you not survive as a healthcare entity! 

But, you may ask ask – with whom do I collaborate? The answer again is short; everyone. You must collaborate with your patients, customers and the public; your employers and benefits managers, your vendors and managed care extenders; your payers and health insurance companies; your local, state, and regional medical societies and government; as well as your colleagues and medical competitors. And, you must collaborate with all divergent stakeholders of the healthcare industrial complex; and seek to unite them all. If you do not, you may even experience something far worse than the demise of your medical practice. You may lose your livelihood, self esteem, and personal lifestyle through the resulting lost autonomy or business dissolution. Whether you want this to happen or not, collaboration is going to play a vital role in the future of medicine and healthcare.

The second theme suggests how the Internet enables people to collaborate and have human conversations with the potential to radically transform traditional business practices, empowered by social media that the blogs, wikis, texting and mobile technology of today’s youth. As noted in the Cluetrain Manifesto a decade ago, “All conversations are markets.”  But, medical professionals across the nation are not all jumping on the internet bandwagon. Mature doctors, with their wealth of experience and clinical heuristics, are retiring early. Mid-life practitioners are dazed and confused. The current generation however, is embracing change – with its new wave ideas and unique business models – with confidence, fly and élan. Moreover, with the federal government pushing physicians to utilize electronic medical records, it is only a matter of time before medicine makes a successful push into Health 2.0 and related internet connectivity initiatives

The final theme of our book is that medical practices must not only recognize the above themes, but execute them for success. For example, enterprising healthcare providers have already deployed sophisticated Health 2.0 media strategies to extend their brand around the world. The Mayo Clinic maintains several blogs, a Facebook page, a library of YouTube videos and a Twitter account. And, within months after Alan Copperman, the vice chairman of obstetrics and reproductive science at Mount Sinai launched You Tube videos on in-vitro fertilization, 100,000 people had viewed them. Some physicians also leverage social media to help their patients’ access illness support networks, a previously difficult undertaking for homebound or geographically isolated patients; or those with rare diseases. The result is that a short doctor visit can turn into an ongoing dialogue executed through a continuous flow of relevant information.

And so, we present all these uniting themes in an easy to understand manner with sample problems and scenarios, fundamental theory and illustrative case models; all concluding with transformers that mitigate strife using better [not best] business practices. Needless to say, such transformations should not be taken lightly by any medical practitioner or clinic. But, for those of you interested in learning more, please read on, and join the continuous conversation with us at: www.BusinessofMedicalPractice.com

We trust The BUSINESS OF MEDICAL PRACTICE [Transformational Health 2.0 Profit Maximizing Techniques for Savvy Doctors] will l lead the way to your future success.

One thought on “Book Introduction & Preface

  1. “Twittering Doctors”

    Doctors – who should be leaders in the micro-sharing of medical information – aren’t, according to Phil Baumann, RN BSN; @ http://www.PhilBaumann.com [personal communication].

    “Twitter may either be the greatest time wasting prank ever played on the internet community – or- it may be the best thing since sliced bread. It’s easy to make the first case if you read the public time-line for a few minutes. It’s a bit harder to make the second, but I’ll do my best to make it. Specifically, I’d like to take a stab at offering 140 health care uses for Twitter. Twitter’s simplicity of design, speed of delivery and ability to connect two or more people around the world provides a powerful means of communication, idea sharing and collaboration. There’s potency in the ability to burst out 140 characters, including a shortened URI. Could this power have any use in healthcare? After all, for example, doctors and nurses.”

    Note: Read the 23 page white paper – “140 healthcare uses for Twitter” – here:

    http://healthcarefinancials.wordpress.com/2009/06/09/health-care-uses-for-twitter-suggestions-for-micro-sharing/

    Dr. David Edward Marcinko; MBA
    [Editor-in-Chief]

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