Practice Builders

Kevin McDonald, DPM
9,266 reads | 0 comments | 07/28/2011
The owner/manager of a podiatry practice is tasked with three important functions. These functions are as follows: performing and promoting a medical service for which there is a sufficient demand; hiring the right people and putting them in the right positions to help provide this service in a competitive marketplace; and providing the leadership and guidance for those people who will help the practice prosper over time. | Continue reading
Christopher F. Hyer, DPM, FACFAS
8,508 reads | 0 comments | 05/19/2011
Running a practice has many challenges. In a perfect world, our patients would be our only focus. However, as we know, there are many other issues vying for our attention. As if the day-to-day realities of managing staff and keeping a practice running were not challenging enough, there are factors that can actually set it back. These factors include rising overhead costs, shrinking insurance reimbursements and dwindling revenue. | Continue reading
David Helfman, DPM
10,959 reads | 0 comments | 02/01/2011
I have always felt that physicians needed a simple business model to manage their practices. After reading almost every business book on the planet, I was fortunate to read a book called Traction: Get a Grip On Your Business by Gino Wickman three years ago and was fascinated by the business process.1 I saw an immediate application in the Village Podiatry model. As a result, our group has grown 35 to 40 percent per year over the last three years using many of the tools outlined in the book. | Continue reading
Bruce Werber, DPM, FACFAS
8,971 reads | 0 comments | 09/23/2010
The challenges of integrating a new practice management system and electronic health records (EHR) system into your practice can be tremendous, especially with a busy practice. However, these upgrades can increase efficiency and potentially reduce the need for additional staff members, thereby improving your bottom line. | Continue reading
Kevin McDonald, DPM
7,582 reads | 0 comments | 07/23/2010
Many people spend much more time thinking about what to do next weekend than what to do with the rest of their lives. This type of short-term thinking tends to lead to a lack of achievement and, on a societal level, the type of economic, environmental and political problems our country faces today.    Forty years ago, Earl Nightingale was a well-known speaker, especially for his program The Strangest Secret.1 This secret is that people actually become what they think about most of the time. So I ask you now, “What do you think about most of the time?” | Continue reading
Janet McCormick, MS
16,243 reads | 1 comments | 03/25/2010
   The first question podiatrists ask after they decide to add cosmetic services to their practice is “How do I set up a room?” Some believe it will be quite an undertaking. Others think it will be a breeze and can be done in one day. Either may be true, according to their vision of the concept, but they should know that these rooms are different than traditional podiatry treatment rooms. They should also know the overall setup and appearance contributes to the success of the cosmetic services part of their practice. | Continue reading
Andrew Rice, DPM, FACFAS
36,129 reads | 0 comments | 11/23/2009
   It is vital to have a network of multidisciplinary specialists to whom one can refer patients. While appropriate referrals are key to ensuring optimal outcomes, the DPM should take the lead in facilitating the best treatment choices for patient care. | Continue reading
Robert Spalding, DPM
49,471 reads | 2 comments | 07/28/2009
   I believe the podiatry field is in a crisis. With the aging of the baby boomers, we have seen an explosion of patients with diabetes and non-invasive foot care into our offices. At the same time, co-pays are rising steadily while reimbursement decreases bit by bit, and insurance companies are refusing more claims. The results are higher workloads but lower income and profit in our practices. Unfortunately, this duality results in a rise in practice failures. What can we do to solve this dilemma? | Continue reading
Kevin McDonald, DPM
25,177 reads | 0 comments | 03/27/2009
   I was sitting in my recliner one evening when the phone rang. It was a very experienced podiatrist who lived in a town 20 miles away. He wanted me to buy his part-time practice so he could retire.    I told the retiring podiatrist that I was too busy. I suggested that he call another podiatrist — one we both knew — who had an associate with time on his hands. The retiring DPM said he had already tried that option and several others with no luck. His voice had a pleading quality. I reluctantly told him that I would look at his practice. I was quite surpr | Continue reading
By David Edward Marcinko, MBA, CMP, and Hope Rachel Hetico, RN, MHA, CMP
21,016 reads | 1 comments | 11/26/2008
   When it comes to purchasing a podiatry practice, there are a variety of factors that one must consider in evaluating the worth of the practice. Assessing the value of a practice is fraught with potential landmines if one does not go into the process with a strong understanding of some key principles to medical practice valuation.    According to the Dictionary of Health Economics and Finance, practice valuation is the “formal process of determining the worth of healthcare or other medical business entity at a specific point in time and the act or process | Continue reading