Attention physician business owners and entrepreneurs!
Are you ready to LIVE your passion,
LOVE your income and have the TIME to enjoy it?
PS: I'd love to hear your thoughts, ideas and resources. All you have to do is click on the blue "Post a Comment" link associated with each new entry (at the TOP of the blog post), follow the simple instructions, and write away!
Entries from April 1, 2008 - May 1, 2008
Ever have one of those frustrated physician days ... or years?
This "bad day" video made me laugh aloud -- it so captured the feelings I had on really bad days in my practice. And if you can't relate to them yourself, perhaps you'll have deepened empathy for the stress so many of your patients are under! Or perhaps it will explain why your office manager is ready to quit.
May it bring a smile to your face.
BTW - this is what is called a "viral video". Something people are entertained by and want to pass around. The secret to it being effective as a marketing tool is if your message is linked in some way to your solution and prompts people to want to learn more about your business. I, for one, immediately checked out glumbert.com!
And just in case you are considering opting for a more humane lifestyle as a physician, you are in good company, according to this Wall Street Journal online article!
Meet the urologist who treasures his independence
What does it take to liberate one unhappy urologist from a bleak unending future as a physician group associate?
Answer: A powerful guiding vision.
Dr. Richard Schoor is a Smithtown NY urologist who, relatively early in his practicing career, has already accomplished three great things as an entrepreneurial physician:
- He has built a solo specialty practice, with the guidance of his own Grand Vision, and is en route to the much bigger dream
- He has carved out a niche for himself as a male infertility sub-specialist, in a crowded field, thereby turning his potential competitors into a source of referrals
- He has begun building a web presence and "platform" for his name and practice using 21st century marketing tools, and has already reaped the benefits. He is the author of an acclaimed blog -- The Independent Urologist.
Since I teach and encourage each of these principles, in my eyes that makes him an up-and-coming star entrepreneurial physician business owner!
Listen to Rich Schoor MD tell his story of how he escaped the "safe" trap of group practice, and opted instead for the elation of independent solo practice (it's less than 20 minutes).
And then please rejoin us here to share your thoughts and questions.
The entrepreneurial physician's challenge: do clients desire Make or Buy?
We've been in a so-called Information Age where knowledge is king, and teaching is very profitable to sell. However trend-watchers are forecasting the rise in "Do it for them" services (here is an example) given that one of our resources in shortest supply (other than gas!) is Time. Do-It-Yourself is proving costly with its learning curves and typical early-user errors.
Think frozen organic baby food delivered to your door, professional organizers, or personal shopper services.
How can you take advantage of this emerging trend as you explore ideas for a new business?
- What problems are your clients or patients struggling with that, instead of merely handing out advice, you could actively SOLVE for them?
- What solution can you offer that has generic step-by-step how-to components (in a book or e-course or audio/video program), that you can then supplement with individual customization?
An example might be a weight loss program with generic information about getting started with an exercise routine plus illustrated information about portion control and label-reading, supplemented with weekly one-on-one phone or in-person consultations tailored to the individual needs. Not exactly doing it for them (I wish you could work off my extra 5 lbs!) - but as close as it gets!
Many of my entrepreneur coaching clients in start-up mode need to attack a list of various chores to get their new businesses or practices off the ground. For example, they might need to:
- have a business logo design created
- select options for a business identity kit (business card, letter head, envelopes, logo, banner etc)
- design a website and create the content for it
- form a legal entity
- set up an office
- hire personnel
- select their telecommunications and technology resources
- open a new banking account
This is all time-consuming stuff -- right?
So if I was paying attention to the trend, my business, which is geared to support early-stage physician entrepreneurs, might offer a bundled "start-up package" including:
- pre-screened graphic design services that would provide you with 3 or 4 design options for logos and websites based on your responses to a questionnaire, and all you'd have to do is choose.
- carefully selected web masters who would build you a 7- or 9-page website based on your initial input, and tweak it based on your feedback
- affordable copy writers who would write the content for your website and marketing promotional materials
- access to a Virtual Assistant to do all the leg-work to help you form your business entity, open our bank account, or get your office, technology and telecomm needs addressed
- access to a small selection of attorneys or CPAs who can advise you and then actually complete for you the legal entity that best meets your tax and legal needs
- all the coaching necessary to come up with a viable business model, business plan and marketing plan and to figure out the implementation plan in the stages that best worked for you
In case you are wondering, I am working on this new "do-it-for-you" package approach for my time-pressed entrepreneurial physicians, in partnership with an esteemed colleague who has many years of highly successful entrepreneurship and business coaching under his belt. Stay tuned for future updates!
By the way, if you know of anyone who can figure out my next phone upgrade - smart phone or Blackberry? which smart phone or Blackberry? buy now or wait until newer models come out? is 3G necessary? which plan? how to hook it up with my email, contacts and calendar? how to best use it? etc. - I need this done for me. Can you see why I'm tired of trying to figure it all out?! :-)
The doctor will be over shortly!
Andy Oakes-Lottridge MD is an intrepid family physician entrepreneur who is now having as much fun building his practice, Personalized Health Care, as he is delivering medical care -- right in the homes of his patients.
As one of the growing number of physicians with concierge or membership-style medical practices (known to some as "boutique practices"), he opened his doors (actually the doors of his Honda Accord car) almost three years ago after recognizing some significant limitations to traditional group practice.
However, instead of opting for an office-based practice, he has chosen a practice in which 100% of his patient visit are home visits. Talk about keeping overhead down!
At The Entrepreneurial MD Podcast, you can enjoy his refreshing story and appealingly candid insights about life as a concierge home-visiting doctor in Fort Myers in the Southwestern part of Florida, and then rejoin us at here to add your comments or questions!
Become an email savvy medical practice
Joshua Schwimmer MD over at The Efficient MD has put together a comprehensive overview of the appropriate use of patient-physician email. He speculates as to why medical practices and healthcare organizations are late adopters of email as an efficient means of communication, and then suggests some ways that email may be used:
- Asking about lab results
- Reporting potential side effects of medications
- Clarifying whether it's safe to take a certain medication
- Reporting home blood pressure readings
- Reporting blood sugar readings
- Giving positive feedback
- Giving negative feedback
- Asking for prescription renewals
- Reporting new minor (but important) symptoms
- Communication new medical issues when out of the country
- And many others
I enjoy being able to communicate with my own physician using the RelayHealth platform, and am usually delighted to get a quick response. It certainly saves playing phone tag.
Dr. Howard Stark, in a recent Entrepreneurial MD podcast, sang the praises of his tranquil office. His receptionist's phone seldom rings, as most of the communication with patients is handled via his "invention" - a web-based encrypted, HIPAA-compliant virtual office now available to other practices from DoctorsOnTheWeb.net.
Check out the brief MSNBC video with Matt Lauer and Dr. Nancy Schneiderman on Dr Stark's site! They discuss the future of email in medical practices.
What are your thoughts?


