"Some deep thinking about balancing your professional life with your home life"
The medical practice world is rapidly changing before our eyes and will never return to what it was like several decades ago. Older physicians hold to their beliefs about medical practice because they had more freedom to choose how they wanted to deliver their medical knowledge and skills to their patients without much government interference.
Younger physicians today tend to think about medical practice in terms of comfortable living, not being tied down to medical practice 24/7, and a willingness to conform to the restrictions of employment status to fulfill their desires--commonly because they have never been exposed to the true freedom older physicians experienced in medical practice.
Not only have the new generation of medical students and young doctors radically departed from the traditional views about medical practice, but their personal life priorities now supersede their
professional choices.
These factors have created significant and irresolvable career issues for nearly all medical doctors, such as...
1. Is it too late for older physicians to make any changes in their medical practices, or too late to adapt to the changing healthcare mandates after practicing all those years how they chose to do?
2. Are the younger doctors and medical students on a path that will lead them to unhappy careers as employees with no good alternatives available for changes they might want to make?
3. Is it possible for any physician of any age able to attain a satisfying, happy, and fulfilling life living and practicing under the new healthcare system—whatever it turns out to be?
The increasing attrition of medical doctors and the widespread frustration with medical practice today requires a great deal of decision-making that no one cares to be cornered with.
If the present trend of increasing disappointment with the government restrictions and increasing control of private practice of medicine continues to persist, as it likely will, the storm of the century coming will leave few alternatives for physicians to retain any freedom to practice medicine as they choose--while being told what they can do and not do in the medical care process. Like I was forced to leave the Kaiser Group because I was not permitted to do Gyn infertility workups or procedures.
The greatest excitement in the past has been the greatest motivation to enter private medical practice and treat patients the way you always thought you would love to do and in the manner you wanted to do it. In the process you expected to be a high-income earner able to live a high quality life with your family.
In the world of independent and private medical practice businesses that advantage is rapidly disappearing. Medical office Fees are increasingly being restricted by governmental mandates and legal maneuvers. Doctors have reached a point that they cannot make enough income by seeing enough patients daily to keep their medical offices open.
This process of forcing medical doctors out of private medical practice by financial fee restriction means has been part of the government plan for healthcare takeover for years. When physicians are forced out of private practice, where do they go? Some move and start over somewhere else, but end up in the same circumstances. Most who prefer to continue practicing medicine join the government mandated healthcare facilities as employees.
When you add to the income restrictions, the medical malpractice risks which continue to run rampant in our society with no end in sight, the desire to leave the profession is magnified.
The joy and satisfaction is disappearing from medical practice. Decrease of satisfaction is seriously affecting the personal lives of private practice physicians as well as other healthcare providers.
Do you enjoy working hard in your private medical office practice and not making enough income to keep your practice open? It’s a common happening in medical practice today.
Are you upset because you don’t make the level of income necessary to send your children to the college of your choice or to fund your retirement plan? You should be!
If your personal income level you expected isn’t there, you will never enjoy medical practice either. Have you made plans to counter this devastating circumstance?
Physicians should think seriously about methods and styles of practice...
All liberal arts colleges have a goal to prepare their students to get a job. The core of graduating college students accepted into medical school are already brainwashed into visualizing their future as an employed physician. Their cleverly manipulated personality and mental behavior while in medical school is a derivative of "tradition stagnation."
Those students who find themselves comfortable with a more secure medical career as employees fall into two main groups.
The First group, one can easily understand why so many physicians choose to follow a career path in some form of academic medicine. Most become employees of some medical institution. The pay is reasonable. The business side of medical practice is all done for them—an important distinct advantage and benefit over private practice.
But, they are placing themselves into a structured career peer system which requires them to follow a set of medical practice behavior patterns that restricts their freedom to use their medical knowledge and skills to their greatest advantage. Practice is restricted to that which provides the most profit for, and adheres to, the system's administrative pathway.
It’s a very secure feeling to get that paycheck every Friday.
The second group of physicians that function well as employees includes physicians who choose a specialty that requires a hospital environment. These physicians often contract with hospitals, clinics, or other healthcare platforms to do their medical professional work. The effect is nearly the same as being an employee. Their professional medical practice business life is controlled by others in their department as well as those non-physicians in the administration of the healthcare unit.
Both groups of physicians can be terminated at any time for many acceptable and valid reasons. When that happens, these doctors look for other medical jobs in other medical facilities and usually find them. It often does mean moving their family to another area of the country, require a new state medical license possibly, and may have to accept what’s available in medical job opportunities for them at the time.
Discovery of one troublesome aspect with both of these groups of “employed” physicians seems to be a rather superficial regard for the serious dilemma that private doctors are now facing financially. I’ve found that fact to be true when I approach my old med-school classmates about that issue.
That attitude is understandable when one considers that a significant amount of their incomes, in one way or another comes from government sources passed down through their hospital or medical facility. It makes for a firm security factor in their work and jobs, as well as a mindset highly compatible with socialized medicine, when and if it comes.
Then again, these physicians have absolutely no real degree of office management skills, hiring and firing employees, as well as all the business requirements necessary to run a private medical office in addition to practicing medicine. That benefit camouflages their attention to what’s happening outside their medical community world.
Face it, private practice inspired medical doctors do not have an actively supportive ally within these two groups beyond a superficial understanding they derive from the media.
Now that I’ve rationalized the issues for the physician employees on salaries, there are more important factors that you should be investigating first.
Options for private medical practice physicians to remain in private practice in the future...
Our government has already reached a point where bureaucrats almost control America’s healthcare, so, predictably private practice will soon not exist. Additionally, medical licensure control by the government may wipe-out the possibility of “cash only” practice of medicine and all other methods of private medical practice by restrictive and selective mandates.
If these thoughts are not winging through your conscious mind today, then I advise you to make it happen. Never assume that total control of medical care and the medical profession by our government won't happen.
When our government is able to shred our Constitution like it has recently and get away with it continually today, it’s a good reason to abolish your positive thinking and begin to entertain your
“survival mode.”
When and if these things happen, physicians will have no personal private medical career choices or medical practice freedom if you want to practice medicine outside of the government dominated healthcare system. Even then you will be restricted by laws and mandates.
However, should there continue to be the existence of private medical practice, I would like to encourage you to look at some alternatives for financial income in addition to your private
medical practice.
The additional financial income alternatives that make sense and are within reach of most private practice doctors in a functional medical practice are reasonable solutions. The idea is to prevent being forced out of medical practice for financial reasons. Also, these possibilities are becoming far more important for you to consider right now.
The reasons that you should be supporting your decision to remain in private medical practice, and that should give you the urgency to prioritize that decision today are...
1. You know that the medical practice incomes have been decreasing steadily over the past 2 decades in private medical practice. It will continue predictably into the future as a result of many external private practice intrusions by our government.
Once you realize that this persistent process of financially squeezing private medical practice physicians out of private practice and into government employment is a planned-agenda and strategy necessary to control all physicians productivity, their mission becomes clearly delineated. Their cleverness in accomplishing all this, almost without noticing, is remarkable.
2. You know that earning more income in private medical practice will require working much harder, seeing more patients each day, hiring more office staff to help you, pushing the edges of medical integrity, and having less time for family relationships. The reward for these things is classic total “burnout” long before you have reached the career goals you have set for doing all this.
3. You know that medical malpractice risks for physicians remain a significant threat and concern for the majority of medical doctors who are in clinical medical practice. You know and I know that the only resolution of this issue is a national law for capping medical malpractice verdicts--that is predictably never going to happen.
You also know that the trial lawyers who dominate both national and state legislatures will never allow “caps” to be placed on medical malpractice verdicts for “pain and suffering” beyond the 6 or 7 states that early-on already have placed caps on malpractice verdicts and awards.
In the majority of states that have not placed caps on malpractice case verdicts, your malpractice premiums will remain high and become unaffordable over time. I call it the "California
1970's cycle pattern."
4. You know today that over 50% of graduating medical students choose to join employed medical positions primarily with managed care groups. Having to pay off an average of over $150,000 educational debt prevents them from starting a private practice. In a real sense, young doctors are being covertly forced by this debt issue to melt into the intended new government
healthcare system.
The trend will create even more pressure on your medical career path. When you are being manipulated by the above factors, your intuition tells you that you should quit medicine completely, retire earlier than intended, or start another non-medical career.
Like most doctors today losing their medical practice for financial reasons, becoming an employed medical doctor at a hospital or managed care facility seems to be the only way to continue practicing medicine.
5. You know that the only financial path to a medical career today is increasingly seeded with government money, in one way or another. And it isn’t all grant monies. If you are aware of the Laws of Influence, then you understand how persuasive the Law of Reciprocity is today. It’s the glue that binds new physicians to become employees, where you don’t control your own career or life.
You are conditioned to accept what will lead you to an unfulfilling and unhappy medical career. The freedom to practice medicine just the way you want is what makes your career full of satisfaction, fulfillment, and success. This is well documented in studies and medical literature.
How to remain in private medical practice when you are overwhelmed by external destructive factors that increase your financial distress and put you into monetary quicksand...
"Cutting to the core; You will need other sources of income outside of medical practice to remain in private medical practice, very soon."
New and old ideas of how to do that...
- Your spouse may need to work full time.
- It may be necessary for your kids to start a business to help.
- Wealthy families often provide financial support.
- You choose a high income medical specialty to practice.
- You make smart investments with your discretionary money.
- You decide to live a very frugal lifestyle for the duration.
- You may feel the impulse to wade into criminal activities.
- You find a separate additional rare executive business position that pays high wages.
- You hit a bonanza with your real estate or stock market investments.
- Win the lottery... wishfully
Maybe you’ve already tried these financially helpful methods. Did they work for you? Did they turn out to be a bad idea? Did you wish that there were other options that might be compatible with keeping you out of financial quicksand?
Some physicians are not risk-takers and are self-confined to their own comfort zone or “box”. These doctors will never get any further than they are today because of fear and inertia. They
can’t be helped.
Before we go any further, there are some assumptions that have to be made concerning my comments...
- You have to have an open mind for considering possibilities and are willing to take an action step or steps to get started on something you believe can be helpful to you in your
medical practice.
- You are a strong believer in your medical practice freedom to practice as you desire, you desire to remain in private medical practice as long as possible and remain in total control of your life and career.
- Living proof of my personal medical practice experiences over many years, while practicing in many medical platforms that you can believe what I say because of what I have been reliably described in my books, articles, website, newsletters, consultations and have never led you astray. There's no BS here.
- What I tell you is factual, accurate, and can be found on the Internet and elsewhere anytime you choose to check it out.
Considerations regarding outside income earning strategies...
Some female physicians already have two jobs, practicing medicine and running a household with kids. The fact that about 50% of medical school students are now female is a strong indication of more changes in medical practice that will likely increase and do so rapidly.
Female doctors have spouses who earn full time salaries either in medicine or outside of healthcare. This frequently permits female doctors certain advantages. First, income is less of a concern when you have two full-time wage earners in a household. Second, surveys indicate that 50% of female doctors choose to work part time in medical practice.
Nearly all male doctors spend full time in medical practice, medical research, or medical academic careers. Private medical practice has some variables that are pertinent to both male and
female physicians.
Those variables are such issues as private or group private practice, availability of having other physicians cover their medical practice on-call or as needed for vacation or illness. Working in an association type of group call coverage, and working as a private medical doctor within a medical facility are good examples.
(Example; contracted to work in a military hospital or facility, or Indian reservation clinic while maintaining a private medical practice license. The rules governing these entities may
recently have changed.)
This leads to your discovering that perhaps you have a serious medical practice income problem...
Most contracted and full time employed medical doctors are restricted from other types of full time medical practice elsewhere or outside jobs that reduces their productivity under their contract. When found out, their employment is often terminated.
The outside job choices for a medical doctor in private medical practice are essentially unrestricted.
Private practice physicians are in total control of their medical practice business, their income, their family life, and their career modifications and goals.
As an employed OBG doctor you might decide you want to quit doing obstetrics and continue the gynecology part of your practice. In that situation, while in an employed position you normally will not be allowed to do so. You would have to quit your employment and find another facility to hire you just for doing gynecology--not many positions like that available in my experience.
Let’s say you’ve been in private medical solo practice for over 5 or 6 years. That happens to be about the time when your new medical practice is going very well with lots of patients. You feel great about how you are doing and expect it to continue the same or better.
Unexpectedly, you begin to notice that other doctors have moved into your area and your load of patients begin to decrease. You notice that you are increasingly sending patient records to other doctors. Your income also starts to diminish--something you notice from your monthly financial statements from your accountant.
At this stage, most physicians have no idea that this is happening let alone why it is happening. Within a year or two you may hear some grumbling from your CPA or office manager that they are having a tough time paying all your usual overhead and salaries.
We all know that to earn money in medical practice you have to see medical patients--the more patients you see the more money you make.
The problem is that only one in 5 thousand physicians ever keep track of the numbers of new patients coming in and leaving their practice. They slough off the warning and blame the drop in income as just a seasonal cycle and will come back up in a couple months. Is this familiar to you?
Then comes a day when there isn’t enough money to pay the office overhead and it’s “temporarily” necessary to dock your take-home pay to pay all the bills of the practice. That's a profound
wake-up call.
Once your spouse discovers what’s happening, it’s the time you become seriously worried. But you still don’t recognize the reason for the continuing drop in income, because all you have been checking out is how much gross income you have been earning monthly and trust that financial statement summary. By now the drop in patient numbers and the decrease in monthly income has become persistent.
Your options:
1. Hire a medical practice business consultant to determine the cause?
2. Get out your office business manual and use it to check out all the
causes listed that might be the cause yourself, before hiring help?
3. Consult with all your friends and medical peers who seem to be doing
quite well in order to learn what they are doing to stay afloat?
4. Decide that it’s a good time to quit medical practice?
5. Take a job as an employed physician somewhere… last resort?
6. Sell your practice to the nearby hospital and continue the practice
under constant demands from above?
Well, it’ll cost you a minimum of $10,000.00 to hire a business consultant just to help you set up a new medical practice business plan and follow-up. Your "peer friends" will likely not disclose the tactics they are really using to remain afloat.
Digging deeply into your practice financial problems rarely works well because you have never been trained to recognize what is wrong and how to get to the solutions, even if you recognize them.
Retirement so early in your career is a death sentence because the boredom is not tolerable. You can take a job as an employed physician and hate it every day.
With the governmental restrictions on hospital owned medical practices being enforced, including the new rating surveys, you, as an employed doctor who sold your medical practice to the hospital and continue to work in the practice by contract, your job and your future in medicine will
always be at risk.
Now, the biggest decision of your medical career has to be made.
Fact: Up to this time almost every medical practice financial problem can, or could be promptly, resolved if you had been educated in business and marketing strategies and tactics.
It wasn’t your fault. No medical school (174 accredited medical schools in the USA) in the USA teaches medical students anything about running a medical practice business. You are thrown out there amongst your patients to do the best you can with your bare minimum of business knowledge you picked up from discussions with your dad, mom or friends. You have to know how to run a successful business to survive financially.
Rarely do you come into contact with a doctor who is willing to go back and get a business education—first, because they at this point are out of money to pay for the education—second, because taking the time off (about 2 years for a on-campus MBA) from your practice would dump you into bankruptcy.
Of course, now there are online business courses, abbreviated business courses over 6 months, and libraries to learn from.
What’s left to get you out of medical practice business financial distress and keep your private practice business going?
You probably already recognize that I am knowledgeable in the field of medical practice business and marketing which I have been persistently increasing my learning over the past 16 years---after my 38 + years in clinical medical practice.
Consider the following list of methods of outside income you can easily do and make a lot of money without interfering with your practice functions. You don’t have to believe it, but I know so many contacts in the business world who are doing it and some are making a great deal more money than you ever will in medical practice, one would be foolish to deny the truth.
These options here are not related to the stock market, real estate investing, or any other quick “get rich” schemes and are not for everyone.
At least I want you to know what good alternatives are open to you and that are compatible with full medical practice. They require time, energy, commitment, and persistence. They all relate to Internet online efforts which you can do at home on the couch, feet up on the coffee table, sip on a cold drink, and work with your laptop.
Come to think of it, your own teenagers are well qualified to do this business activity for you.
The necessary learning is easy, quick, and the passive income “work” can be continued remotely while on your Caribbean or Mediterranean cruises, now that it all can be accomplished on
your cell phones.
This is just one idea below that has proven to be quite profitable to thousands of internet users--both old and young people.
Selling other people’s products online: (Affiliate Marketing)
You, your spouse, and/or your computer literate children are easily able to create an ongoing resource of passive income quicker than most other money-making efforts. In today’s world, online income ventures offer an opportunity for creating wealth independent of other jobs, careers, or income resources you may have.
You don’t have to create the products you sell online through your website or blog. You can find them listed on such websites as… www.ClickBank.com/marketplace where there are thousands of done-for-you products waiting to be sold. ClickBank provides very easy detailed instructions that any 12-year old can follow. For the creative people who develop a product to sell, it's a virtual gold mine for them to have a few thousand regular people selling their product for them and receiving a commission to do so. This selling method is as old as the oak tree in your front yard.
You sign up as an “affiliate” (free) to sell the product for the vendor online (creator of the product and who is already selling their product online) and receive a commission of over 50% of the sale price. You become a“reseller.”
There are literally hundreds of articles on the Internet that are available (free) to rapidly learn how to function as an affiliate and make a good income... even thousands of dollars as some have already earned in short periods of time.
There are now teenage and college-age affiliates who are making a million dollars a year online... not my impression, but is a fact that's well documented.
Presently online there are over 300,000,000 (million) customers now buying products they want or need while surfing the Internet on their laptop or mobile device (now at exponential growth rate) day and night across the globe. EBAY was one of the first platforms for doing this successfully and
continues today. There are many other companies now using the same method to earn money.
The basic advantages of the affiliate process...
- You can become proficient in the affiliate process in less than a week. Keywords like “become an affiliate” used in Google bring up 163,000,000 million listed websites on that topic
to help you locate products to buy or sell.
- The products you choose to sell online usually are sold through your mini-website you create for the product online. There are hundreds of templates (most are free) available to
use to do this. Just fill in the blanks and put it online.
- Your affiliate product or one you create yourself is visible on a website online to anyone around the world surfing the web to buy something. The number of customers online is increasing exponentially now. It’s an incredible opportunity for anyone, of any age.
- Once a product (eBook, eCourse, videos, washing machines, dental products, anything at all)
is online for sale, people will continue to be buying even years later, thus providing passive income forever.
- Imagine creating a hundred mini-sites each with a different $100 product for sale, where you get a 50% commission on the sale price. If you make one sale each day on each product doing the math you would earn $5,000.00 per day in commissions. You get the idea here.
Use your own data and discover what income you can earn each year on the products you could sell. A retired old man bought used cell phones online and sold them online. Making several hundred dollars each month for him made his life easier and his finances lifesaving.
- You don’t ever have to create a product to sell.
- You don’t have to do all the paperwork business associated with selling products, all done for you by ClickBank at a very minimal cost.
- You can leave that website sit on the Internet indefinitely for someone to find and buy that product even years later.
- You can sell the product on a blog or a website or even offline.
Basic sequence of the affiliate sale process:
1. Select a product you are interested in selling. Your family members
could do all of these things for you. ( www.clickbank.com/marketplace )
2. Create your affiliate account online with the vendor (owner of product or
distributor) to sell the product. (Clickbank tells you how to do that.)
3. Create a mini-website to offer and sell the product on.
(Google the keywords, “create mini-websites”.)
4. Create a “web hosting account” for your mini-website so customers can
find your site on the Internet. (Ex. www.godaddy.com )
5. Optimize your mini-site so the site will be seen by customers on the first
2 pages of Google website listings in that category of products. The customer
uses a keyword typed into the Internet search engine to find your website and
product. (Google the keywords, “optimize my websites” to learn the process.)
6. Best of all, you can do all this with two requirements--have Internet available and
have a computer to use. Work on it whenever you choose and for how long you
choose daily from your desk at home.
Recommendations for study and use--Keywords... what they mean
and how to use them.
ü Marketing —what it’s about and how to do it.
ü Copywriting and Persuasion—ways to convince customers that this
product is exactly what they want and need.
ü Website Building—pay for someone to do it for you—better to do it
yourself because it’s fun and a lot less costly.
ü Online Business—learn to start right and earn more... is not hard
to learn.
ü Resources —plan on spending some time for continuous learning
about problems you need to avoid and overcome as you progress.
ü Teenagers and younger kids can start their own business online and earn
money for college and for the family benefit as well. Even grandpa and
grandma can make money online.
Subscribe to as many free email newsletters as you can find online, that
focus on the areas you need to know more about.
I tried this stuff and you will learn something new every day without fail...
exactly like you learn daily in medical practice.
Comments...
Trust me, you will in the near future need to have multiple streams of passive income established, above and beyond your medical practice income in order to maintain the standard of living you have worked so hard for, invested so much money in, and absolutely deserve. For most physicians medical practice will not enable the lifestyle you expected.
Taking full advantage of what is possible to earn online now enables you to use the Internet to compete on an even level with the big boys, which has been impossible in the past for any person or small business like medical practice to do.
The usual excuses I hear from physicians today about why they quit practice, retire too soon, change careers, are so frustrated with medical practice (AMA survey—over 60% of doctors), and are fed up with their career in medical practice can all be resolved, if your income was adequate to meet your lifestyle expectations as a professional.
Why is that so hard to understand?
Why doctors won’t make an effort to get the required business knowledge needed for maximum income...
It’s obvious that physicians already in practice will rarely ever make the efforts necessary to create high incomes in their medical practice or to even stabilize their income to prevent it from dropping. They simply find it easier to deal with the consequences, like losing their medical practice for financial reasons.
The singular effort that would be most helpful would be for doctors to spend concentrated time learning business principles and marketing strategies. That effort would involve time away from medical practice business and medical practice marketing time, but would save a significant cost for an education, like obtaining an MBA (about $50,000 for a two-year program at a top University). In both instances, they lose money from their medical practice business management interruption.
There are many shortened MBA programs, costing much less available and even some online that would be beneficial. Would most physicians who recognize their practice is shrinking get the business education to rescue their medical practice business from failure?
Most physicians won’t do it for a couple reasons...
1. They are so skeptical that getting a business education would not cure their financial problems with their medical practice that no business consultant can get them to believe it will work.
2. Another segment of doctors are willing to listen to a consultant and what they recommend, and then refuse to alter their practice to create the recommended business structure and organization necessary to accomplish their objectives and goals.
Far more disappointing are the physicians who go ahead and give the whole process a try, determine that it isn’t working for them, and go back to the old income inhibited practice.
Physicians commonly react this way because they want to see results immediately resulting from the changes they’ve made. It always takes several months to see significant increases in income. Most will not wait.
The barriers that have persistently prevented physicians from rescuing their financially disabled private practices seem to be their inertia, lack of business knowledge, and an arrogant disbelief of the proven business success requirements.
Why I outlined above the easiest and most practical method for a practicing medical doctor today to attract income... (Business as an affiliate--is only one of them)
- There is no need to interrupt medical practice to get a
business education.
- No need to fork out a lot of money for an MBA or other
educational courses.
- No need to change the way you or they are now practicing.
- No reason to pay for huge business consulting fees.
- No long waits to see results.
- Because the process is one a 12-year-old can easily do.
- Anyone in the family, or an employee, can do for the doctor.
- There is no interference with the medical practice function.
- Because there is no need to see lots more patients earn more in the medical practice and burnout as the result.
- The level of affiliate income is totally determined by you and what you need to have.
- The affiliate work process is one that any doctor has time to do, if he or she chooses.
- Affiliate business is done completely on a computer with Internet access beginning to end.
- Affiliate business online is the least expensive income-producing business available, other than carrying a hungry sign standing at an intersection.
- Affiliate business is perfect for young kids to start a business of their own, as so many of them have already done.
- Once someone in the family learns the affiliate business, most of the others want to do the same. Teenagers can earn their own way through college.
- It’s a way to ensure your grown-up kids won’t have to come back home to live, later on. Not that your kids would ever do such a thing.
- Medical Economics magazine has a number of articles about what doctors can do if they quit medical practice. I've seen a few that suggest moonlighting jobs while still practicing.
Ideas and strategies for successfully producing income by any means is dependent on determination, persistence, and goal setting.
There many other businesses outside of medical practice and online today that have high potential for wealth. You would be surprised at the number of simple online businesses or stock market investing started in high school or college that earn enough income for the students to quit college and expand the business.
Remember, there is not a shortage of money out there among the masses in spite of what you hear. People still buy very expensive season tickets to professional sports games, still go to expensive restaurants, always have enough money for booze and cigarettes, still buy expensive
jewelry, and etc.
You just have to learn how to send some of it your way. There are millions of ways to do that if you are smart about it. It’s true in any economy anywhere, good or bad.
This is just one idea. There are many more I can describe for you. You are not obligated to do any of what I advise. However, where else do other doctors discover new reliable income ideas that are almost free?
I am always looking for practical income producing processes that do not required a business and marketing education. Since there are over a million physicians in our nation that never had a business education and still practice medicine there is an army of physicians that could use some new ideas that don't require more work and more time away from the family.
Judging by what I have discovered in the past 20 years, i have come to the conclusion that investing in the stock market is by far the best money making process for all physicians. I discuss how to do that by yourself in another article on this website.
"Two things in business that make money,
innovation and marketing, everything else is a cost."
---Peter Drucker, Business Expert
Requirements for maximizing your medical practice income
1. Good knowledge of medical practice management
2. Having the energy for continuous medical practice marketing
3. Medical practice business planning is important.
4. Marketing for physicians and their office staff is a winning set up.
5. Learn what makes a medical practice business successful.
6. Your medical practice business system is essential.
7. Both the practice marketing and physician marketing is rewarding.
8. Business success is the objective of all physicians in private medical practice.
9. My business website—www.marketingamedicalpractice.com
10. Medical practice business planning sets the process off
----Professional Probe----
"Secrets exist that we stumble on at the most
unexpected times, even in medical care."
"Things are being dug up every day that you would have never believed, unless you saw it yourself. New ideas pop up daily that are coupled with opportunity. This is an archeological dig in southern Europe revealing a human skeleton about 22 feet in height... and you never believed the Biblical story of Goliath in the Bible?"
Articles©2013-2022/CGG INVESTMENTS LLC. All rights reserved. #97, 3-16-22
