Working with physicians, dentists, and other medical professionals over the last 30 years has taught us a lot about their financial planning decision-making process and how they run their practice.  One one hand, we have seen physicians that are extremely successful, while some others struggle to fit in find ways to cope with the ever-changing environment in the health care industry.  In regards to financial planning and securing retirement income, confusing information available on the internet and clueless “advisors’ has led many physicians to make mis-informed choices, which do not achieve the desired results.

 

With all the changes in the health care industry due to the Affordable Healthcare Act, many physicians have been feeling negative impacts on their private practices. Some physicians have given up and are not accepting the changes that are required in order to continue being successful.  We have also witnessed many physicians who truly do not understand the importance of leadership and their role in our community. 

 

This book is designed to make the financial planning process a lot clearer by not only showing the importance of getting it done, but by also highlighting eye-opening ways of managing the process every step of the way. The book clarifies many ideas and concepts that may be ambiguous to many physicians, since most of them have not been taught in medical school.  The focus is on personal planning needs for the physician/dentist, and also talks about the business planning aspect of the financial planning process.  Many medical professionals have not addressed either of these points and this could have disastrous results.

 

In addition, many physicians do not understand the importance of the office environment, where the patients are the center of influence.  This includes the way the office should be designed, the way the staff is managed, the importance leadership by the doctor, the new labor law requirements regarding healthcare and benefits for the employees, the compliance and security related to private information and HIPPA laws, as well as the ever important on-line presence and patient reviews.

 

In essence the book takes an “on the outside looking in” approach in dealing with both the micromanagement and macroeconomic aspects of successful financial and business planning. Reading this book will not only help physicians, dentists, or medical professionals, but it contains eye-opening ideas and concepts that should help any business owner. 

 

We hope that you enjoy the book and recommended it to anyone you know.