Physician Revenue Secrets: Crucial Business Concepts for Physicians

by Michael Morkos

Revolutionize Your Master Productivity and Business Skills

Are you an exceptional clinician but struggling with the business side of your practice? You're not alone. While medical training excels at preparing us for patient care, it often falls short of teaching us how to manage and grow a successful practice. The gap between clinical expertise and practice management can be daunting—but it doesn’t have to be.
Physician Revenue Secrets is your ultimate guide to bridging that gap. This book offers actionable insights and strategies to transform your practice and boost your productivity. Learn to navigate the complexities of the medical business with confidence and ease.

In this game-changing book, you’ll secrets to mastering the RVU systemA deep dive into various compensation modelsExpert techniques for billing and coding like a seasoned proHow to face audits with unwavering confidencePractical tips and tricks to enhance your business acumenWhat makes this book truly unique is the perspective of its author, a highly productive physician who shares tried-and-true strategies for success. Ready to revolutionize your practice and achieve unparalleled productivity? Dive into Physician Revenue Secrets and start your journey to a more efficient and rewarding medical career.

136 pages, Kindle Edition

Published August 24, 2024

Reviews

[Juan Schmukler · Rating 4 out of 5]

(disclosure: I personally know Michael, we were in training together)
This is a very important book and I would recommend every young doctor in the US, trainees or attendings, to read it. It is a very pleasant read and dense with explanations of concepts that, as the author correctly points out, are rarely discussed in medical education or post graduate training.
The book's principal strength is that it covers all forms of physician compensation in good detail. Private practive, salaried compensation, and productivity-based compensations are discussed. The terminology is up to date and the explanations are clear, illustrated by appropriate examples.
A mild criticism I have is that the book is eskewed towards academic practice compared to private independent practice. It is understandable given Dr Morkos' background, and private practice IS still covered, but there is that.
I especially like the description of the asymmetries between independent practices and large consolidated systems in terms of revenue capture. I would have preferred more detailed and expanded discussion on this, such as inclusion of certificate of need laws, prohibition of physician ownership of hospitals, etc. That could be the topic of a different book.

This book is easy to recommend to all young doctors.

[Adelina Priscu · Rating 5 out of 5]

Dr. Morkos' book addresses an aspect of medicine that is never covered in traditional medical education. As healthcare providers, we spend years training to practice independently, yet none of those rigorous hours are dedicated to the business side of medicine. Dr. Morkos, known for his clinic efficiency, is the go-to expert in our division. I frequently hear colleagues and other attendings seeking his advice on billing or job contracts, and he’s always ready to guide us. Physician Revenue Secrets is an essential resource to consult whenever you need answers. Personally, I was unfamiliar with healthcare payment models and am still learning about RVUs. Some topics, like the four main career paths in academic medicine, I already knew—thanks to previous discussions with Dr. Morkos himself. However, this book gave me a deeper understanding of physician compensation across various work environments. Billing is an art, and Dr. Morkos has perfected it. We’re fortunate he's willing to share his insights with us. The book is easy to follow, and the real-life examples made the concepts even clearer. This second book in the series is just as indispensable as the first, and there may even be a third on the way.

[Aelsahy · Rating 5 out of 5]

"Physician Revenue Secrets" by Dr. Michael Morkos is an insightful and practical guide designed specifically for medical professionals looking to optimize their financial performance. Dr. Morkos, with his extensive experience in the healthcare industry, breaks down complex revenue management strategies into easily understandable concepts. The book covers various topics, from billing and coding best practices to effective patient communication and marketing strategies.

What sets this book apart is its clear, concise language and actionable advice. Dr. Morkos provides real-world examples and case studies illustrating how physicians can implement these strategies in their practices. Each chapter is filled with practical tips and checklists, making it an invaluable resource for new and seasoned practitioners.

Overall, "Physician Revenue Secrets" is a must-read for any physician looking to enhance their practice's financial health and efficiency. Dr. Morkos's expertise and straightforward approach make this book a valuable tool in navigating the often complex world of medical revenue management.

[Wade Jodeh · Rating 5 out of 5]

This book is an easy recommendation. I believe this book will be helpful to many physicians and physicians in training!

Dr. Mokos' latest book delivers what the title implies, CRUCIAL business concepts.
Subconsciously, I often associated generating high revenue in patient care with legal actions and lawsuits. This was an inherent bias and after delving into this book, I realized I was far from the truth.

The book is generous enough to start with a "Practical Tips and Tricks" chapter, which is useful as is. What awaits after this chapter will enable you to bolster your practice to generate revenue without compromising patient care at all.

Like "No Work From Home", this book is easy to pick up and digest.
This leaves me excited for what is to come down the pipeline in Dr. Morkos' MD Efficacy Series.

[Palak · Rating 5 out of 5]

Dr. Morkos is an amazing physician who gives up to date expert care to his patients and has learned to do this efficiently! As physicians in training working under him, we gain valuable teaching in not only the science of medicine but the other aspects, such as a productivity and efficiency. This has been extremely helpful as this is not often focused on! I was able to receive a pre-release copy of his new book "Physician Revenue Secrets" which is a great in depth look into the business of medicine, going through the basics which many of us do not fully understand and recommendations on how to improve in this aspect of our careers. I believe this book will be helpful to many physicians and physicians in training!

[Noah Parker · Rating 5 out of 5]

Dr. Morkos provides an informative and instructional outline for health care providers aimed at the logistical practice of medicine. He touches on efficiency, documentation, billing and coding best practices, and numerous other vital aspects seeking to optimize both patient care and practice efficiency. While we as providers are all schooled on how to evaluate, diagnose, and treat patients and their health conditions, the topics in Dr. Morkos' book are seldom taught effectively, if at all, during school and subsequent training. This book should be required reading for anyone who will be seeing and caring for patients.

[Zainab · Rating 5 out of 5]

Physician Revenue Secrets is is a must-read for any physician. While we are taught how to evaluate and treat patients, the topics covered in Dr. Morkos' book are rarely, if even, brushed upon during our education and training. The knowledge shared here is just as essential as clinical skills for ensuring the longevity and sustainability of a practice. Dr. Morkos provides clear, actionable strategies for improving financial performance without overwhelming the reader with jargon. For a resident in-training like myself who has no background in business, this was particularly beneficial. I will definitely be revisiting this book throughout my career!

[Anoopa Koshy · Rating 5 out of 5]

Dr. Morkos has done an excellent job detailing practical tips and tricks on the business side of medicine while improving efficiency in the clinic setting. It is very helpful for physicians in training review real live scenarios as it applies to patient care and to understand what to expect while starting a practice. Since such practical knowledge is rarely discussed during training, this is a unique book discussing important aspects that are very relevant to clinical practice. It is written in a concise manner that is very easy to read. Definitely recommend!

[Anne Mary · Rating 5 out of 5]

Insight for the inside track -Dr. Morkos has been a well-respected member of the academic medical community, but as a colleague who received a pre-release manuscript of his latest book, I was excited to learn about this perspective on maintaining clinical practice and keeping an eye on real-world considerations. Critical reading for physicians and advanced providers alike!

[William E. · Rating 5 out of 5]

Dr. Morkos' book provides a practical "how-to" guide on billing for clinicians. His many examples and substantial expertise provide value for primary care and specialist physicians. A few hours of investment in this book will be rewarded by a better understanding of how to bill to capture revenue appropriately.

[Rasa Kazlauskaite · Rating 5 out of 5]

Doctors in training do not get much education on the business of medicine and end up learning on the job. Reading this book before you graduate from residency or fellowship will improve efficiency and lessen stress in your new job.

[Cheng · Rating 5 out of 5]

The author clearly targeted areas that are vitals to improving performance and reducing burnout with practicing medicine. I agreed with his approaches and have adopted many suggestions as outlined in the book.
Would highly recommend everyone in medicine to check out this book !

[Farrah · Rating 5 out of 5]

Great book. Very helpfup tips. Definitely going yo change my billing practice based on what i learned. I had so many questions about billing which are answered in this book in a simple manner. Highly recommended.

[Qasim Zafar · Rating 5 out of 5]

This was an excellent read for me. I have thoroughly enjoyed it and it has helped me immensely in improving both my clinical efficiency and revenue generation as a physician. This is a must read for any physician trying to improve his efficiency and revenue generation.

[Jubran Afzal · Rating 5 out of 5]

This book covers crucial information that formal medical training leaves out. Excellent practical advice any physician with a primarily outpatient practice can benefit from. Congratulations to Dr. Morkos on this achievement!

[Reader · Rating 5 out of 5]

Smooth, easy to follow read. Great tips

[Zunera · Rating 5 out of 5]

Presale copy received.
I would like to congratulate Dr Morkos on his second book. Like the first book, this one is an eye opener and he generously shares his knowledge regarding the financial world of medicine. As a recent graduate who now has to independently use billing codes for patient encounters, find this book to be extremely helpful. Would like to applaud his hardwork again and his work is a must read.