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Lucrative Practices: The Comprehensive Handbook for Healthcare Executives


Starting and owning a well-run, successful practice are two of the most rewarding activities in which a healthcare professional can engage. However, staying ahead of the curve in our ever-changing industry environment can feel burdensome and can be disheartening. The fact is that at the end of the day, clinicians are trained in their science, not in business. This can ultimately result in a costly, inefficient, trial-and-error approach to practice management.

Written as a business reference guide for healthcare executives, office managers, and professionals in independent practice, Lucrative Practices includes detailed “how to” discussions and instructions, tips, forms, templates and guides that steer professionals away from problems and toward forward moving, financially successful management practices.

What will this book help you do?

Organize, structure, and operate your business so that it is as profitable and rewarding as it can be.

Learn from the successes and failures of others to avoid costly mistakes and make more profitable decisions.

Free-up the time your practice deserves and needs to prosper by implementing the strategies in Lucrative Practices.

Stay ahead of the curve in our ever-changing healthcare environment with “how to” instructions and discussions for all phases of private practice management.

Maximize your practice’s profitability by creating a buffer between managers and the financial challenges they face.

Find new inspirations and renewed motivation to build your practices to the fullest, most lucrative, potential.

There is no substitute for knowledge and experience. No matter how bright and clever a manager is, they are destined to make costly errors and miss valuable opportunities if they manage through trial-and-error and best guesses. Lucrative Practices serves as a concise, practical handbook in which other people’s mistakes and successes are synthesized.

About Author(s)
Table of Contents

Michael B. Spellman, PhD, is a healthcare practice consultant with more than 30 years of experience in a wide range of healthcare practice types and settings. He is fond of saying that “Practice consultancy provides the best possible education. Where else can you learn from other’s successes and from their mistakes?”

Having founded, purchased, sold, and consulted to practices of all sizes, Dr. Spellman is a “doctorpreneur.” He knows first-hand what it takes to be successful as a healthcare professional starting, running, and ultimately selling a healthcare business.

A frequent speaker on the subject of The Business of Practice, Dr. Spellman continues to practice part-time. His training as a Psychologist adds an understanding of human motivations and human behaviors to his writings, lectures, and to his recommendations. His experiences as a Commissioner on Florida’s Commission on Mental Health and Substance Abuse and as the longstanding Chairman of a Political Action Committee, allow Dr. Spellman to understand and make use of the political, regulatory, economic, and social forces that influence the healthcare industry.

For over 45 years.

The American Association for Physician Leadership has helped physicians develop their leadership skills through education, career development, thought leadership and community building.

The American Association for Physician Leadership (AAPL) changed its name from the American College of Physician Executives (ACPE) in 2014. We may have changed our name, but we are the same organization that has been serving physician leaders since 1975.


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AAPL providers leadership development programs designed to retain valuable team members and improve patient outcomes.

American Association for Physician Leadership®

formerly known as the American College of Physician Executives (ACPE)