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LLCs provide asset protections for physicians, but they may also provide significant tax benefits if Trump's proposed tax plan becomes law.
Done well, strategic planning is an extremely valuable activity that greatly improves practice performance; done poorly, it can be a waste of time.
Medical practices facing a competitive threat need to find ways to get out of the echo chamber and evaluate the situation objectively, using outside perspectives from experienced professionals.
Although your practice may be doing fine now, there may come a point where bringing in a partner could make sense, particularly if he or she has skills and experience that complement yours, and can assist with achieving the growth and health of your practice.
Experiences that leave patients feeling truly cared for and competent in their ability to contribute to their own health are an important part of the pathway to the continuity of care.
Entrepreneurial physician leaders must be innovators, taking charge and continuously scanning the outside environment for new and fresh ideas.
More and more physicians are signing employment contracts as opposed to opening up a practice. If you see any of these 8 concerning contract items when reviewing your contract, it is probably time to negotiate.
Undertaking physician partnerships should not be rushed or taken lightly. They require much pre-planning, careful structuring, and a whole lot of continued communication in order for them to be successful.
Strategic planning, when treated as a work in progress rather than as a binder on a shelf can provide a medical practice with a real and lasting competitive advantage.
Patients certainly want quality care, but they also want hospitality. We don't know how healthcare reform will shake out, but we do know that putting patients first is the best strategy.
Strategic planning helps assure that a practice remains relevant and responsive to the needs of its patients, and contributes to practice stability and growth.
Tapping into the power of mornings, a time of day when there are fewer demands, is a key physician entrepreneurs use to increasing their productivity.