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Grow Your Medical Practice and Get Your Life Back
By
David Finkel
Dr. Pariksith Singh
and Alan Gassman, Esq.
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Table of Contents
Foreword
An Invitation
Part One: Four Simple Steps to Grow Your Medical Practice and Get Your Life
Back
1. Step One: Make Building an Owner-Independent Practice a Stated Goal
2. Step Two: Reclaim Your Best Time
3. Step Three: Determine Your Practice’s “Fewer, Better”
4. Step Four: Build Your Master System
Part Two: Apply the Six Practice Accelerators to Go Faster
5. Accelerator One: Strengthen Your Core
6. Accelerator Two: Engage Your Team
7. Accelerator Three: Cultivate Your Culture
8. Accelerator Four: Enhance Your Profitability
9. Accelerator Five: Protect Your Assets
10. Accelerator Six: Hire a Coach
Conclusion: Five Steps to Enhance Your Practice Right Now
About the Authors
Appendix A: The Medical Practice Success Tool Kit: Your FREE $1,375 Gift from
the Authors
Appendix B: Get Your Life Back Faster
Acknowledgements
Index
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Foreword
In the summer of 1984 I took a trip across a sultry India with my mother and
brother. Perhaps to help us pass the time, my mother told us stories about her father—my
grandfather—a dedicated healer who had lived in a small village. He concocted
treatments for ailments like spider bites and burns, and he used them to care for the
people in his village and from other villages nearby. He didn’t charge for these services;
he simply wanted to help people. That was his goal: to help others and to try to make
their lives better.
I was inspired by that story. As a child growing up in India, I had always aspired
to be an engineer, but in the moment that I heard that story, I decided that I would
become a doctor. I attended medical school in India, and in 1992, I was selected for a
residency at the All India Institute of Medical Sciences. Then, in 1993, I came to the
United States to finish my residency at Mount Sinai in New York. Afterward I relocated
to Florida, where there was an acute need for physicians, and I went to work for another
doctor, whom I’ll call “Dr. K.”
Dr. K. was a brilliant visionary, but he lacked the practical business and
operational skills to execute on his practice’s vision. For example, at one point he brought
forty new physicians into one office all at once. As you can likely imagine, he just didn’t
have the patient volume, nor was he able to develop it fast enough, to keep the
considerable overheard of all these provider salaries from pushing him over the financial
edge and into bankruptcy. By watching Dr. K., I learned the importance of maintaining a
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firm handle on the business and financial aspects of the practice, and why strong
operational systems and controls are required to help any practice thrive.
While this was happening at Dr. K.’s office, another physician in our county,
whom I’ll call “Dr. O.,” opened a practice of his own. He was ambitious and secured a
contract to take all the ER calls at a local hospital. That first year he worked incredibly
hard, earning $400,000 for his efforts. So what did he do? He hired a new physician for
the second year, and had him take over the ER contract, effectively allowing Dr. O. to
stop seeing patients. Well, you can probably guess what happened next. Dr. O.’s patients
shifted their loyalties to the new physician or simply left the practice. The new doctor
was unhappy and resentful because he was seeing all the patients and he couldn’t see how
Dr. O. was adding any value. Soon enough, the vast majority of Dr. O.’s patients went
elsewhere, and his practice ground to a halt. Yet all of this would have been totally
avoidable if Dr. O. had just had a better map for how to mature his practice before he
stepped out of the direct clinical treatment of patients.
I have one more story to share with you about a third local doctor, a talented
gastroenterologist, who started his practice around this same time as the other doctors
I’ve mentioned. I’ll call him “Dr. R.” His approach to scaling his practice was quite
different from both that of Dr. K. and that of Dr. O. Dr. R. set about personally seeing as
many patients as he possibly could. Since he was a very skilled practitioner, he soon had
a long waiting list. To handle all this demand, he set a rigorous schedule for himself: his
first appointment every day was at six o’clock in the morning, and his last one finished at
around eight or even nine o’clock at night. If that sounds draining, that’s because it was.
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