"Each physician has different criteria for their
medical practice business planning and business
success, which commonly results in a level of success
that is far below their personal capabilities and potential."
Yes, it’s an uncomfortable question to ask of any physician. But, do you know the incredible value of having the answer to that question? Most physicians either don’t have an answer, let alone have ever thought about it as deeply as they should.
I suggest to you that your lack of having a reasonable answer is a strong indicator of your propensity to wind up being unable to fund your retirement plan, if you have one. You likely will be unable to pay for your kid’s college education. You are set up to discover that the expectations you had for your medical practice career are not even close to reaching those levels you planned on at the beginning.
If you have no idea what can be accomplished in a medical practice, measured by business parameters, you will never learn what maximizing your medical practice potential can provide for the improvement of your lifestyle, your goals, and your expectations. Creating a business system in your medical practice and expanding it always will open those doors.
Significant medical practice business success must be measured to be of accepted value and worth...
An odd and unexplainable thing about this concept, something that has been persistently left out of the equation, is that there are no universal means of measurement that can be applied to either element contributing to your successful achievements and to all medical practices. There’s no way to measure it, so you never know how successful in medical practice you really are, except by experience and guessing.
Is our private medical practice success simply a vision in our mind supported by the some statistical economic data and how we feel at the moment? Is it a heart felt sensation and emotion that is unexplainable? Does one add up all the positive factors one sees happening day by day in our medical office that change daily?
It becomes evident very quickly that we may be trying to measure medical practice management or one’s medical career success using the wrong parameters. However, changing your focus to the business of medical practice where every aspect of medical practice business can be measured very effectively, clears a way to define professional success in universal reliable business terms. Is your practice really a mixture of medical practice management experiences or a valid
business entify?
If you have a valid business license, it must be a legitimate business.
Medical practice doesn’t earn income. A physician doesn’t earn income. A physician’s business creates income. Unless a physician has deep knowledge about business and creates a business system based on well-known successful business standards, the success of any real and substantive nature is nearly impossible.
Only by an understanding of the value of medical practice business marketing strategies to your medical practice, will the financial stability of your medical practice be assured to any degree.
You may have the greatest medical knowledge and medical skills in the world and never come close to meeting the credentials for medical practice success, by any definition. However, when all the knowledge and skills are spread over a sound business platform, to begin with, there’s a chance of becoming wealthy and of fulfilling all your goals for your life and your profession. Failure to accept your medical practice as a legitimate medical business is commonly the first big mistake physicians make. But, there’s more to this.
Your mindset concerning business—a crucial barrier to medical practice success...
You’ve been brainwashed so thoroughly by the medical school educational institution that you graduated from, about the uselessness of formal business education (Did they even stress a need for it?), you are being held hostage by your mind and the established medical education tradition. How can anyone else convince you that you must have that business and marketing knowledge to meet any business standard of success?
Sure, you just get out there and practice like hell, work like hell, and struggle like hell only to discover after a while you’re fighting a losing game all along. Do you know how many physicians are losing their medical practices today because they can’t earn enough money to keep it going? An unacceptable amount!
The crime is they have no idea how to stop it from happening (no business knowledge), and no idea what caused the failure, to begin with (no marketing knowledge). Think to yourself--“I need to be sure I have a good business education to assure my absolute maximum success in private
medical practice.”
Why do you think physicians are known as “lousy business people?” Because we are. Your challenge is to get the necessary business and marketing education TODAY. Physicians who are already doing that will be leaving you in the dust shortly if you still aren’t sure if you need it. Otherwise, good luck.
Are you simple minded enough to think that you can compete financially or fulfillment-wise with other professionals in the business world, who already have all the business knowledge and skills needed, and you have none? Well, maybe a lick and dribble amount at most.
Small business owner’s without a college education on average are said to take-home income twice the amount of income than the average medical doctor does (average physician net earnings often quoted as around $80,000 to $100,000 per year). What makes the difference is using business principles and marketing strategies, whether you believe it or not.
For nearly all physicians in our nation today and over the last century, the illusion of their medical practice business success is derived from the unplanned occurrence of increased medical practice income one month and decreased medical practice income the next month, that happens without your intentional action, spontaneously. It might be compared to getting into your car in the morning and drive to work every day without ever looking at the dashboard gasoline gauge. But it's more than that.
You actually are creating beliefs about how you are doing in your medical practice business that are the result of the circumstantial happenings that month that you were never in control of or made happen. And this is the undebatable evidence that every move you make in your medical career and medical practice occur by some other controlling forces invisible to you. So, when you respond to the the question about how your practice is doing, the words you respond with are simply
irrational puffery.
Worst of all, you are basing your whole medical career success on the lies you keep telling yourself and convincing yourself with undocumented factors that you are doing the best you can with what you have. And that's a lie as well. You know I'm telling you the truth and you don't want to hear it.
The positive aspect of all this artificial decadence is that it is a career destroying set of issues regarding medical practice business success and the essential physician medical school education deficiencies that have been hidden from all physicians, can be updated and available to all medical students very easily. The insertion of a business education curriculum specifically for medical students into all our medical schools will be the breakthrough event that solves the financial and medical educational barriers private medical practice physicians have today in our nation.
Presently, all private practicing physicians in our nation do not have access to a viable and highly reliable source of medical practice business education with one exception. You may not realize it at this moment, but you are reading this on the single website in the world that provides a constantly updated business and marketing education for all physicians who have an interest in upgrading their incomes and keeping themselves on the cutting edge of medical skills and current medical knowledge.
Convince me you have a highly successful medical practice...
Over 95% of physicians who don’t "get it." Now you have a second-rate mediocre medical practice and leave a million dollars on the table that you will never recognize during your medical practice career. The reasons for that are numerous, which I’ve published previously in the articles on this website.
You need to have a clear goal-setting definition for the degree of success you want, and the confidence in yourself to know you can accomplish it. Never be satisfied with your hum-drum practice and what it now offers you, and you reluctantly accept. Turn that around and you dictate the level of success you want by using your business and marketing expertise to do it.
Keep reading my website articles and you will find the knowledge you need. Seek business knowledge from all of the resources you can find. The most helpful and valuable business and marketing educational resources are listed on my website. If you have my recently upgraded second edition and published book, July 2021, about 114 selected resources are listed. Title of the book..."THE WOUNDED PHYSICIAN PROJECT"
I only hope you are able to open your mind and see what possibilities I can see for your private medical practice success that you have been unable to see because of these barriers I’ve
described above.
"The aim ought not to be forced positive thinking
but creating and engineering and exercising
control over your life so that you have reasons
for positive thinking and expectation."
-----Dan S. Kennedy, renowned business and
marketing expert
----Professional Probe----
"Success here is defined by getting out of
these cars, by not using the doors or windows."
"Success is a journey,
not a destination" ----anon.
"Success is to be measured not so much
by the position that one has reached in
life as by the obstacles which he has
overcome while trying to succeed"
----Booker T. Washington
"Success is not final, failure is not fatal;
it is the courage to continue that counts"
----Winston Churchill
Articles © 2013-2022/CGG INVESTMENTS LLC. All rights reserved. #19 3-15-22
