This is the new second edition of the most popular business and practice managment book for physicians, students and residents. Second edition contains new material for the same low price. The second edition includes a new part III section and includes pearls and proceedings from the 2012 Medical Entrepreneur Symposium.

Tip for Doctors & Medical students: You should read this book before signing any contract, joining a medical practice, starting in a medical practice or an unrelated entrepreneurial venture.

This book is written to help doctors, medical residents, medical students, and physicians in private practice and academia avoid costly business mistakes in their post medical school career. It is uniquely written from the perspective of a successful physician entrepreneur.

The book provides tips, steps, pearls, and pitfalls written in a concise manner. Busy doctors with little time can quickly access critical cost saving information when joining or starting a private practice.

Topics include everything from how to set up a practice, sign a contract with another group, hire another doctor, contract with insurance companies, understand health regulations including the HITECH stimulus act, how to qualify to receive stimulus funds, billing in the office, hiring and firing personnel, picking a location, obtaining hospital privileges, applying for the required licenses, electronic health records, practice management software, health technology in the office, how to protect your estate, liability issues,marketing and public relations, design of the medical office and more.

Also written for the physician entrepreneur, the book explains how to raise capital, term sheets, understanding venture capital, board of directors, incorporation election issues, how to understand financials, balance sheets, negotiations, hiring the management team, how to take an idea and turn it into an operating business, how to protect your intellectual property, copyrights, trademarks, patents, customer acquisition and how to deal with a business when things go wrong.

The book covers much more and includes expert “stat consults” or opinions from corporate attorneys, intellectual property attorneys, board certified health care attorneys and estate attorneys.

Read Reviews by leading physicians:

“We do not do enough to prepare our trainees for the business of practice. Likewise, so many creative physicians have commercializable ideas, but find out the hard way how a good idea does not a successful business make. Hacker’s book is a gem in that it speaks to both of these challenges in an engaging way. It is chock-full of wisdom, easily read, and very enjoyable reading. I’ll be recommending it to all of our trainees.”

Joseph C. Kvedar, MD

Director, Center for Connected Health

Partners HealthCare System, Inc.

Associate Professor of Dermatology

Harvard Medical School

“Part I allows the reader to envision the necessary activities for opening his or her own practice in the voice of the author, while Part II is a guide for budding entrepreneurs. Part II covers victories and defeats in clear, concise tones that anyone can appreciate and empathize with. Hemingwayesque, concise, and practical, this book would be an ideal gift from department chairs to their senior residents at the start of their last year of training, or a personal purchase around the same time if the chairperson is too cheap to buy it for you. If you are reading this, turn the page and take the roller-coaster ride. Enjoy!”

Daniel Mark Siegel MD, MS (Management and Policy)

Clinical Professor of Dermatology, SUNY Downstate

Director, Procedural Dermatology Fellowship

American Academy of Dermatology President 2011

“After reading this book, I am now more certain than ever that my impressions of Dr. Hacker nearly twenty years ago were correct. His book is an honest, open, forthright attempt to share with his colleagues those precious details he has learned about establishing a medical practice and becoming an entrepreneur. I thought this book was fun to read, informative, concise, and blatantly honest. As I told Dr. Hacker after reading his book, ‘I think you have taught an old dog some new tricks.’ “

Franklin P. Flowers, MD

Professor, University of Florida College of Medicine

Department of Medicine, Division of Dermatology and Cutaneous Surgery

John Igoe