Welcome to the Planning for Practice Success Newsletter

October 9, 2006

Some individuals dream of great accomplishments, while others stay awake and do them.

Beth Lukens

In this issue:
- NEWS FLASH: Important information on applying for a
Medicare Provider Identifier (NPI)
- Website Help and a Marketing Tip: Mystery Shoppers
- Leasing Tip: Security Deposit limits
- Relevant Reading: The Aladdin Factor

What's New: At the request of many readers, we've put together the important information you need for buying a practice. Here it is, all in one place: Our newest book: Buying a Practice: Everything you need to buy and existing practice and make it your own. This e-book is $29.95 for a limited time.

Since Buying a Practice is an e-book, you can download it and immediately begin learning about leasing. (Don't forget that you'll also need to prepare a business plan in
order to receive practice purchase funding.) Go to the Order Page to order.

Important NEWSFLASH: If you are getting ready to apply for Medicare provider status, you need to know about NPI (National Provider Identifier) numbers. If you are a sole proprietor, you need an NPI for yourself. If you're an LLC or corporation
(including PC), you need a second NPI for the organization. Go to this website for more information and to apply.

Website Help and a Marketing Tip: The Wall Street Journal has a special site for new startup businesses. Sections include: 'Ideas,' 'Financing,' and 'Running a Business.' At the top of the 'Ideas' section was an interesting marketing idea: How the health care industry is using 'mystery shoppers' to evaluate customer service. Mystery shoppers are those people who shop at a store while wearing recorders and who describe their experiences to a company that evaluates them and reports back to the merchants. Turns out lots of hospitals and medical offices are using mystery shopper services to improve customer service.

A less expensive option for your practice might be to hire someone to call your office or come in for care, in order to evaluate your staff and their customer skills. But be prepared to deal with the consequences if they don't live up to your expectations!

Leasing Tip: Security Deposits. Check the limits on security deposits in your state. Nolo.com has a listing of security deposit limits for each U.S. state. While these limits relate to apartments, the limits are often the same for commercial property. This is a 'buyer beware' issue - if a landlord or leasing company tells you that the state requires a two-month security deposit, you should be able to check that out. As some of you know, one of my 'top ten' rules is: Trust, but verify. For more information on finding and leasing an office, see my new e-book: Leasing an Office.

Relevant Reading: The Aladdin Factor (1995, Berkeley Books) by Jack Canfield and Mark Victor Hansen. In this book, the authors present the premise that you have only to ask (as Aladdin did) in order to get what you want. Sounds too simple? Maybe, but I have learned over and over that you don't get if you don't ask and that many of us are afraid to ask. Some specific tips: Ask as if you expect to receive. Ask someone who can give it to you. Be clear and specific (if you ask for 'more money' and I give you a quarter, you have received what you asked for!). There are more ideas about asking, including sections on asking in various circumstances and conquering fear. If you read the book, think about how it might apply to asking a bank for funding.

Ask Dr. Jean Murray a question: email her at jean@dcpracticesuccess.com
Order Planning for Practice Success or one of our other products or call our toll free number at any time (24/7): 1-866-940-7526

Best wishes for your continued success,

Jean Murray

Planning for Practice Success
Online at http://www.dcpracticesuccess.com

The most absurd and reckless aspirations  have sometimes led to extraordinary success.

-- Vauvenargues

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