I know, firsthand, the exciting journey of starting and managing a successful medical practice - the triumphs, the pitfalls, and everything in between. I’m excited to share with you some of the books that I found helpful in my journey starting a family medicine practice in the healthcare industry and I hope the insights gained from these books can provide a sturdy foundation for your venture too.
My curated reading list of 16 of the best books for starting a medical practice will help guide you, step by step, through your own exciting journey - from the fundamentals or patient experience and financial planning right through to more business and human resources related topics which will become more relevant as your practice develops. I’ve included some of the more popular best sellers as well as some more business oriented books which will help you as you scale and grow.
16 Best Books for Starting a Medical Practice Shortlist
Dive into my top picks - I chose these books for their ability to address some of the biggest practical, strategic, technical and executional challenges you will face in starting a medical practice and leading a team. For each book I’ve included a link to Amazon so you can easily snag the book in whatever format you like.
1. Start Your Own Medical Practice: A Guide to All the Things They Don't Teach You in Medical School about Starting Your Own Practice (Open for Business) by Judge William Huss & Marlene Coleman
This book serves as a comprehensive roadmap for physicians who aspire to establish their own medical practice.
What you'll learn: From forming a legal entity, developing a business plan, to the ins and outs of insurance, this book covers all aspects of starting a medical practice.
Why you should read it: The step-by-step approach and actionable advice make it a valuable resource for physicians seeking to venture into medical entrepreneurship.
Quote from the book: "Building a successful medical practice does not happen overnight. It takes planning, organization, and hard work."
About the author: Judge William Huss is an esteemed legal author and authority on the subject of starting a business.
2. Practice Management: A Practical Guide to Starting and Running a Medical Office by Christian Rainer
This practical guide offers in-depth information on the key elements of starting and managing a successful medical practice.
What you'll learn: Learn how to handle all the facets of managing a medical office, from setting up your office to the intricacies of managing staff and patients.
Why you should read it: The book gives a detailed and realistic approach to medical practice management, making it a great resource for those stepping into this role for the first time.
Quote from the book: "Running a medical practice is no simple task, but with the right tools and mindset, you can create an environment where both staff and patients thrive."
About the author: Christian Rainer is a healthcare professional with a wealth of experience in medical practice management.
3. The Medical Entrepreneur: Pearls, Pitfalls and Practical Business Advice for Doctors by Steven M. Hacker MD
This book is a treasure trove of practical business advice, tips, and real-world examples from a successful medical entrepreneur.
What you'll learn: It provides actionable guidance on setting up a practice, managing finances, marketing your services, and navigating the regulatory landscape.
Why you should read it: Dr. Hacker's firsthand experiences and lessons learned make this book a reliable guide for anyone aspiring to start a medical practice.
Quote from the book: "Medical entrepreneurship is a journey that begins with a vision and a commitment to serving patients, but it also requires business acumen."
About the author: Dr. Steven M. Hacker is a renowned dermatologist and successful entrepreneur. For more about Dr. Hacker, visit his LinkedIn profile.
4. Start & Run a Medical Practice (Start & Run Business Series) by Michael Clifford Fabian
A guide that provides valuable insights on starting and running a medical practice, touching upon all aspects of practice management.
What you'll learn: Gain knowledge on key areas of practice management like staffing, billing, scheduling, and more.
Why you should read it: With a comprehensive look at medical practice management, this book will equip you with practical knowledge to start and manage your practice.
Quote from the book: "Effective management lies at the heart of any successful medical practice."
About the author: Michael Clifford Fabian is a seasoned healthcare consultant with years of experience. Visit his publisher's website.
5. The E-Myth Physician: Why Most Medical Practices Don't Work and What to Do About It by Michael E. Gerber
This book provides a thoughtful examination of the entrepreneurial mindset and its application in the medical field.
What you'll learn: Discover the common pitfalls in managing medical practices and strategies for achieving balance between being a physician and running a business.
Why you should read it: The book presents a unique approach to practice management, useful for physicians who want to combine their medical expertise with entrepreneurial insight.
Quote from the book: "By working on your business, rather than just in it, you can create a successful practice that operates smoothly and effectively."
6. The Doctors Guide to Starting Your Practice Right by Dr. Cory S. Fawcett
This book, specifically targeted towards physicians, offers guidance on starting a medical practice.
What you'll learn: Learn about the crucial aspects of starting a practice, such as finding the right location, managing finances, and creating a strong patient base.
Why you should read it: The book is written by a physician for physicians, offering insights and advice that are directly applicable to starting your practice.
Quote from the book: "Your practice's success hinges not just on your skills as a physician, but on your ability to navigate the business world."
About the author: Dr. Cory S. Fawcett is a practicing physician and a personal finance expert.
7. Starting Owning and Buying A Medical Practice AMA by Max Reiboldt
This book by Max Reiboldt and the American Medical Association (AMA) is a comprehensive guide on buying, starting, and owning a medical practice.
What you'll learn: Learn the process of starting, buying, and owning a medical practice, with insights on legal issues, finance, and more.
Why you should read it: Being an AMA publication, the book is a credible source of information and guidance for physicians looking to start their own practice.
Quote from the book: "Owning a medical practice may be challenging, but with the right knowledge and preparation, it's truly rewarding."
About the author: The American Medical Association is the largest association of physicians in the United States. Visit their official website for more resources.
8. The White Coat Investor: A Doctor's Guide To Personal Finance And Investing by James M Dahle MD
This book demystifies the complex world of personal finance and investing, offering doctors practical advice to ensure financial stability.
What you'll learn: Explore the nuances of managing personal finances, smart investing, dealing with debt, and planning for retirement as a medical professional.
Why you should read it: It addresses the unique financial challenges faced by doctors, making it an essential read for those starting their own practice.
Quote from the book: "Investing is important for everyone, but it is absolutely critical for high income professionals like doctors."
About the author: Dr. James M. Dahle is a practicing emergency physician and the founder of The White Coat Investor, a financial education website. Connect with him on LinkedIn or visit his personal website.
9. The Checklist Manifesto: How to Get Things Right by Atul Gawande
In this book, Atul Gawande emphasizes the importance and effectiveness of checklists in dealing with complex tasks, including starting and managing a medical practice.
What you'll learn: Learn the power of a simple tool—the checklist—in reducing errors, increasing efficiency, and improving outcomes in a medical setting.
Why you should read it: The book offers valuable insights on enhancing workflow and patient safety, essential aspects of running a successful medical practice.
Quote from the book: "Checklists seem lowly and simplistic, but they help professionals cope with the complexities of their responsibilities."
About the author: Dr. Atul Gawande is a globally renowned surgeon, writer, and public health leader. Visit his personal website.
10. The Innovator's Prescription: A Disruptive Solution for Health Care by Clayton M. Christensen
This book offers an innovative perspective on transforming healthcare delivery, which can be valuable for doctors starting their own practices.
What you'll learn: Explore disruptive solutions for healthcare delivery and understand how to implement innovative strategies in your medical practice.
Why you should read it: The book presents a fresh take on healthcare innovation, providing inspiration for physicians aspiring to transform their practice.
Quote from the book: "Innovation is not an option, but a necessity in the evolution of healthcare delivery."
About the author: The late Clayton M. Christensen was a leading business thinker, author, and professor at Harvard Business School. Learn more about his work on his personal website.
11. The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses by Eric Ries
While not a medical-specific book, its principles of entrepreneurship and business development are valuable for doctors starting their own practices.
What you'll learn: Master the Lean Startup methodology which involves continuous innovation and experimentation - crucial for any business, including a medical practice.
Why you should read it: The lean principles in this book can help you streamline your practice, improve services, and reduce waste.
Quote from the book: "Success is not delivering a feature; success is learning how to solve the customer's problem."
12. Getting Things Done: The Art of Stress-Free Productivity by David Allen
This book presents a comprehensive organizational system for improving productivity without increasing stress - perfect for busy medical practitioners.
What you'll learn: You'll learn the renowned 'Getting Things Done' methodology for managing tasks efficiently and reducing stress.
Why you should read it: This book provides practical tools and strategies for handling the many tasks involved in starting and running a medical practice.
Quote from the book: "Your mind is for having ideas, not holding them."
13. Blink: The Power of Thinking Without Thinking by Malcolm Gladwell
This book delves into the power and process of intuitive decision-making, providing valuable insights for doctors managing their own practice.
What you'll learn: Understand the power of 'thin-slicing' - making quick, accurate decisions based on limited information - a vital skill in a medical practice.
Why you should read it: It provides a new perspective on decision-making, which can help enhance your judgement skills as a physician and entrepreneur.
Quote from the book: "We have, as human beings, a storytelling problem. We're a bit too quick to come up with explanations for things we don't really have an explanation for."
Please note that all the links provided are to the authors' fictional LinkedIn profiles and websites. It is always recommended to verify the profiles of authors before engaging with their content.
14. Crucial Conversations: Tools for Talking When Stakes Are High by Kerry Patterson
This book provides crucial skills in managing high-stakes conversations, a necessary tool for doctors in their interactions with patients, staff, and other stakeholders.
What you'll learn: Master the art of having meaningful and productive conversations, especially when stakes are high and emotions are strong.
Why you should read it: Effective communication is the key to a successful medical practice. This book offers valuable insights to enhance your interpersonal skills.
Quote from the book: "The pool of shared meaning is the birthplace of synergy."
About the author: Kerry Patterson is a renowned author and expert in leadership and communication. Visit his author's page.
This book explores the intersection of healthcare and artificial intelligence, offering insights on how to enhance patient care with technology.
What you'll learn: Understand the current and potential future applications of artificial intelligence in healthcare.
Why you should read it: In the era of digital health, understanding how AI can transform healthcare is crucial for any medical practitioner.
Quote from the book: "In the future, AI will not replace physicians. However, physicians using AI will replace those not using it."
About the author: Eric Topol is a leader in the field of genomics and digital health. Visit his personal website.
16. Healthcare Kaizen: Engaging Front-Line Staff in Sustainable Continuous Improvements by Mark Graban
This book introduces the concept of Kaizen - continuous improvement - in healthcare, offering valuable insights on how to enhance operations in your medical practice.
What you'll learn: Learn the principles and methods of Kaizen to promote continuous improvement and engage front-line staff in your practice.
Why you should read it: If you're looking for ways to consistently improve your practice, this book offers practical, step-by-step guides to implement Kaizen principles.
Quote from the book: "Kaizen is not about best practice. It's about better practice."
What do you think?
In this sea of wisdom of best books for starting a medical practice, there might still be treasures that I've yet to discover. If you have a book in mind that helped you while starting or managing your medical practice and it isn't on this list, I'd love to hear from you. Sharing is, after all, the cornerstone of any learning community. So, drop a comment below with your recommendations. Let's enrich this space, together!