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Organizing a Successful Practice and Considering Tax and Estate Planning.
Lawton C Leung1, K J Lee2, Alexander Jin3
1Withers Bergman LLP, Private Client and Tax Team, 157 Church Street, 12th Floor, New Haven, CT 06510-2100, USA.
Otolaryngologic Clinics of North America
|September 20, 2021
Summary
Building a successful medical practice requires excelling in patient care and business management. Key principles include ability, availability, and affordability, ensuring both patient satisfaction and practice sustainability.
Area of Science:
- Medical Practice Management
- Healthcare Administration
- Professional Development
Background:
- Achieving practice success is crucial for personal fulfillment and supporting charitable causes.
- A successful practice enables practitioners to provide for their families and contribute to their communities.
Purpose of the Study:
- To outline key principles for building and maintaining a successful medical practice.
- To provide a framework for healthcare professionals to enhance their practice management skills.
Main Methods:
- The study identifies and elaborates on twelve core principles, termed the "dozen A's."
- These principles encompass both clinical skills and interpersonal/business acumen.
Main Results:
- The "dozen A's" framework includes: Ability, Availability, Amicability, Approachable, Attuned, Aware, Attentive to patients, Attentive to others, Attentive to details, Apology, Assimilate, and Affordable.
- These principles collectively contribute to a practice that offers effective treatment, compassionate care, and reasonable pricing.
Conclusions:
- Adhering to the "dozen A's" is essential for developing a thriving medical practice.
- The integration of clinical expertise with strong interpersonal and business skills ensures comprehensive patient care and practice viability.