Introducing the worlds first Medical Entrepreneur App
Download the app- its free.
The app is for any healthcare professional, physician, doctor, medical resident, medical student, physician extenders, dentists, podiatrists,
medical office managers and more. Based upon the popular book, The Medical Entrepreneur by author Steven M Hacker, MD, you can now explore all
three sections of the Medical Entrepreneur App: Before (Private Practice) (this section is ideal for medical residents and students),
During (Private Practice) (this section is ideal for healthcare professionals currently in or just starting in private practice),
After (Private Practice) (this section is ideal for healthcare professionals looking to transition out of private practice)
-Before (Private Practice)
If you are a student and want to see want type of medical specialty you should choose based upon income and personality preferences, then download this app, its free.
-During (Private Practice)
If you are in any medical practice, and you need help...
Creating an annual pro forma budget,
Determining the line of credit size to ask bank for,
Understanding your practices cash flow needs,
Deciding how much to spend on advertising to acquire a new patient,
Deciding on leasing or buying a particular piece of equipment,
Then download this app, its free.
-After (Private Practice)
If you have been in practice for many years, and you wondered....
How much is my practice worth ?
Do I have what it takes to be an entrepreneur?
Then download this app, its free.
See what this free App can do for you...
For those users- medical students and medical residents- use app tools Before Private Practice
Specialty selection choice:
This report was meant to give students and residents a general idea of what specialties are most applicable
to their preferences of both income and personality. We started out with income preferences and narrowed down from there.
For those users- all healthcare professionals- use app tools During Private Practice
Pro forma budget:
This report generates a working annual pro forma budget. This is helpful for you to determine what your annual
net practice income will be based upon projected monthly income and projected monthly expenses. A line item for the
most common expenses is generated to help guide you to consider all the expenses you should consider in determining
your budget.
Cash flow:
This report takes into consideration your practices cash flow for the first six months. It extrapolates what
your 18 month cash flow would be if level. It then reveals what line of credit you will need to keep you from a negative
cash flow for the first eighteen months of your practice.
Lease or buy:
This report will help you decide whether to lease or purchase your next piece of equipment. The report will show you total
cost of each scenario so you can see what makes most sense.
Benchmarks- Practice scorecard:
Use this report to compare your front office functions or billing service effectiveness against known benchmarks.
Marketing:
This report will help you find the lifetime value of your patient and cost of acquiring that patient so that you can
determine if any advertising campaign is worthwhile. For an advertising campaign to be worthwhile, the cost of acquiring
the customer in that campaign should be less than the customers lifetime value.
For those users - Experienced doctors that might want to sell their practice, transition out of medicine or consider
alternative business opportunities- After Private Practice-
Valuation of a practice:
This report will provide you with two different ways to value your practice. One, based upon income (or ROI), for the purchaser.
The other is based purely upon Asset values. You will see the value in each scenario.
Entrepreneur quiz:
Use this report to see if you have what it takes to be an entrepreneur.
Match your personality traits against known traits of entrepreneurs.