June 4th 2025
Market pullbacks tempt investors to time the market, but history shows staying invested beats guessing the highs and lows—time > timing.
Internal buyouts: Plan well; sell your medical practice for millions at retirement
May 1st 2009As attorneys and consultants to thousands of physicians across the country, we are constantly astounded by the attitudes of physicians regarding the sale of their medical practices. Most often, today, we hear the complaint that doctors do not feel they can sell a practice for any significant value. They generally do not feel the practice is "worth anything," especially if they do not have younger partners to buy them out.
Tending to business: Follow these recommendations to help navigate tough times
May 1st 2009Practice management consultants Elizabeth W. Woodcock, M.B.A., the founder of Woodcock & Associates, Atlanta, and Pamela L. Moore, Ph.D., director of content and strategy for Physicians Practice, Inc., offer these tips for protecting your practice during tough times
Business Consult: Cutting costs: Find savings to help your practice survive tough times
May 1st 2009Revenue is flat, even dropping, at many dermatology practices. The recession that began last year is leading more Americans to cut back on preventive care, as well as elective procedures and treatments.
Navigating the banks: New service charges, confusing options, varying interest rates abound
May 1st 2009Among the most hard-hit victims of today's troubled economy are the nation's banks. New service charges, confusing account options and wildly varying interest rates are just some of the techniques some banks are using to help pump up their slumping profits - at your expense.
Slide show: Is it time to start your own lab?
March 1st 2009With the economy in the gutter, businesses closing left and right, and hundreds of thousands of Americans being laid off or losing their jobs, owners of medical practices are starting to worry how the slumping economy will affect their practices short- and long-term.
YouTube for doctors: Standard protocols do not yet exist for this medium
February 11th 2009Do you want to share a video of yourself discussing a medical topic, or demonstrating a new procedure? Visit www.thedoctorschannel.com, where you can view videos uploaded by other physicians, and upload your own material.
Going green: Eco-friendly measures reduce costs, attract new patients
February 1st 2009If your practice hasn't jumped on the eco-friendly bus already, maybe it's time to catch a ride. 'Going green' can make good business sense. Savvy dermatology practices recognize that consumers gravitate to businesses they perceive as socially conscious. In addition to attracting patients and helping the environment, being environmentally friendly may also help you reduce costs.
Silence, please! Turn off your 'toys' when you are in a meeting
February 1st 2009With increasing frequency, I have noticed that many audience members at medical meetings are dividing their attention between the speakers and their Blackberries and laptops. Some audience members keep both their Blackberries and laptops running throughout the meeting, and are not engaged at all in the meeting - but I am sure they will claim CME credit for "being there."
Expanding scope of practice : Address cosmetic needs of current medical, Medicare patients
February 1st 2009The full-body skin exam is the perfect opportunity to talk with patients about all their skin concerns, including cosmetic. One expert explains how dermatologists can turn medical and Medicare patients into cosmetic patients.
Feeling the pinch: Economy squeezes Aesthetic bookings; proactive push helps derms stay busy
January 1st 2009National report - The precarious U.S. economy has slashed patient spending on Aesthetic treatments, and some dermatologists say medical bookings also have declined since the stock market plummeted in the closing months of 2008.
Coding genital lesions: Optimize payment by specifying body area when billing for your services
October 1st 2008Treating lesions of the vulva, anus and penis is common practice in dermatology, yet many dermatologists misrepresent the CPT code(s), as they are not aware that there are specific codes for some of these areas that have significantly higher allowables.
Opinion: Tiering up: Derms skeptical about national ranking standards
October 1st 2008National standards for ranking physicians may be on the horizon, but many dermatologists doubt that they can be implemented fairly and accurately. Insurance companies have proposed ranking physicians in tiers that could be used to determine levels of reimbursement or the amount of co-pays for patients to see the physician of their choosing.
Transitioning practice: General derms should look to existing patients first to expand services
September 1st 2008Incorporating cosmetic dermatology into a medical dermatology practice is made easier if clinicians offer the cosmetic procedures to their existing patients. Internal marketing and a pleasant support staff ensure the success of expansion to cosmetic dermatology.