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More About This Textbook
Overview
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. . . [Chapters are] 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.4 stars
Carol EH Scott-Conner, MD, PhD, MBA
American College of Physician Executives
Answering these questions and more, this newly updated and revised edition is an essential tool for doctors, nurses, and healthcare administrators; management and business consultants; accountants; and medical, dental, business, and healthcare administration graduate and doctoral students.
Written in plain language using nontechnical jargon, the text presents a progressive discussion of management and operation strategies. It incorporates prose, news reports, and regulatory and academic perspectives with Health 2.0 examples, and blog and internet links, as well as charts, tables, diagrams, and Web site references, resulting in an all-encompassing resource. It integrates various medical practice business disciplines-from finance and economics to marketing to the strategic management sciences-to improve patient outcomes and achieve best practices in the healthcare administration field.
With contributions by a world-class team of expert authors, the third edition covers brand-new information, including:
- The impact of Web 2.0 technologies on the healthcare industry
- Internal office controls for preventing fraud and abuse
- Physician compensation with pay-for-performance trend analysis
- Healthcare marketing, advertising, CRM, and public relations
- eMRs, mobile IT systems, medical devices, and cloud computing
and much more!Editorial Reviews
From The Critics
Reviewer: Heather Huang, MD(University of Wisconsin School of Medicine and Public Health)Description: This book examines both the qualitative and quantitative aspects of medical practice in, as the authors note, "prose form, using nontechnical jargon, without the need to document every statement with a citation from the literature." This is an update of the 2004 edition.
Purpose: It aims to help medical providers learn to "compete, collaborate, and appropriately use health information technology" to improve the management and operation strategies of their medical practices. These worthy objectives are partially met.
Audience: The book is aimed at medical providers in solo, small, or medium group practices, as well as those who have or aspire to have administrative roles. The lead editor has experience as the president of a privately held physician practice management corporation, which consolidated 95 solo medical practices in 1998.
Features: In three broadly categorized sections, the book covers the qualitative and quantitative aspects of medical practice and the role of policy, ethics, and leadership. It touches upon the numerous intricacies of creating, setting up, executing, and running a medical practice, with a focus on how technology can be integrated.
Assessment: While the authors tout the "prose form," some readers may find this detracts from the content the book delivers.
Product Details
Meet the Author
Hope Rachel Hetico; RN, MHA, CMP™, Managing Editor
Hope Rachel Hetico has authored and edited a dozen major textbooks and is a nationally known expert in managed care, reimbursement, case management, health insurance, quality and utilization review, and Joint Commission regulations. Previously, she was national corporate Director for Medical Quality Improvement at Apria Healthcare, a public company in Costa Mesa, California. Currently, she is a sought after thought-leader, blogger, speaker and devotee of online andragogy. Ms. Hetico is responsible for leading the firm to the top of the exploding adult educational marketplace, expanding the online Certified Medical Planner™ charter designation program, and nurturing the company's rapidly growing list of private and institutional clients.
Dr. David Edward Marcinko; MBA, CMP™, Editor
Founding editor of the first and second editions, technologist David Edward Marcinko is a management consultant and health economist from Loyola University Maryland. He often writes for professional organizations like the Medical Group Management Association, American College of Medical Practice Executives, American College of Physician Executives, American College of Emergency Room Physicians, Humana Health and PhysiciansPractice.com. After a stint as visiting professor, Dr. Marcinko was appointed Chief Executive Officer for the Institute of Medical Business Advisors, Inc. He is also a social media specialist who publishes the Medical Executive Post, an influential syndicated blog with active following among medical professionals, management experts and financial advisors. Dr. Marcinko is the author of a dozen books who frequently speaks on related topics throughout this country and Europe.
Table of Contents
A Note From the Editor-in-Chief
Preface
Acknowledgments
About This Edition
SECTION ONE: QUALITATIVE ASPECTS OF MEDICAL PRACTICE
1. [R]evolving Health Care Industrial Complex: The Changing Health 2.0 Economics and Financial Ecosystem2. Growing Tensions in Emerging Health 2.0 Markets: The Challenging Insurance, Po-litical, IT, and Business Ecosystem
3. Crafting a Business Plan and Starting a Medical Practice: Understanding Business Models, the Entrepreneurial Spirit, and Obtaining Capital
4. Office Launch, Development, and Strategic Operations: Enhancing Entry Speed, Efficiency, and Organization
5. Lean Office Staffing and Management: Organizational Asset or Liability
6. Professional Human Resources Options: Understanding Professional Medical Em-ployer Organizations
7. Medical Workplace Violence Issues: The Growing Impact
8. Restrictive Covenants and Practice Buy-Sell Agreements: Avoid Feelings of Anger and Betrayal
9. Medical Records, Insurance Billing, and Coding Guidelines: Basis for Payment and Reflections on the New Reality
10. Medical Practice Compliance and Programs: Accountability, Processes, and Imple-mentation
11. Internal Marketing for the Health Care Practice: Understanding Old and New-Wave Patient Relationship Management Strategies
12. Process Improvement for Physicians and Health Plans: Aligning Incentives Among Stakeholders
13. Interoperable EMRs for the Small- to Medium-Sized Office: On Being the CIO of Your Practice
14. Using Health Information Technology to Track Medical Care: Understanding Medical Informatics and Outcomes Reporting
15. Doctor-Patient Relationships in the Modern Era: Can We Talk-A Collaborative Shift in Bedside Manner
SECTION TWO: QUANTITATIVE ASPECTS OF MEDICAL PRACTICE
16. Cash Flow Analysis and Practice Enhancement: Medical Practice Lifeblood
17. Office Expense Costing and Modeling: Differentiating Managerial From Financial Accounting
18. Accounting for Mixed Practice Costs: Understanding Hybrid Overhead Costs
19. Medical Activity-Based Cost Management: Demonstrating the Cost-Effectiveness of Medical Care
20. Rethinking Capitation Reimbursement Economics: Subcapitation, Microcapitation, and Other Emerging Models
21. Analyzing and Negotiating Cost Volume Profit Medical Contracts: Profit Optimization Versus Revenue Maximization
22. Managing Accounts Receivable: Appreciating Asset Protection Strategies
23. Understanding Incurred but Not Reported Health Care Claims: An Unintended Liabil-ity of the Indirect Medical Payment System
24. Managing Revenue Cycle Performance: Enhancing Medical Practice Cash Conver-sion
25. Internal Controls and Fraud Prevention: Accounting Concerns for Medical Practices
26. Return on Practice Investment Calculations: Managerial Concepts for Physician Ex-ecutives
27. Contemporary Physician Compensation: Modern Salary Trends, Approaches, and Projections
28. Financial Accounting and Medical Practice Benchmarking: Improving What's Meas-ured
29. Direct Access, Private, and Concierge Medicine: Getting off the Grid With Boutique Practice and Retainer Medicine
30. The Science and Art of Medical Practice Valuation: Fair Market Value Appraisal Considerations
SECTION THREE: POLICY, ETHICS, AND LEADERSHIP IN MEDICAL PRACTICE
31. Medical Practice Sales Contracts: Reviewing Terms, Conditions, and Agree-ments
32. The USA Patriot Act: Understanding Financial Implications for Health Care Enti-ties
33. Developing Productive Professional Relationships: The Contemporary Challenges of Health 2.0
34. New-Wave Physician Recruitment and Retention: About Physician Recruiters and Executive Search Firms
35. Medical Leadership and Self-Branding: Transforming the Next Generation of Physi-cian Executives
36. Medical Ethics for Challenging Times: Finding Your Moorings in an Era of Dramatic Change
37. Selecting Practice Management Consultants Wisely: Deep Knowledge and Medical Specificity Required
Afterword
Index