Key management concepts—from personnel to finances—to improve your practice

If there’s one thing that medical school, residency, and a fellowship didn’t prepare you for, it’s running a small business. And that’s just what your orthopaedic practice is—a small business that’s faced with a plethora of regulatory requirements, management issues, financial questions, and service improvement challenges.

Looking for ways to improve your income? Want to know how to get the most from your overhead dollar? Curious about how other orthopaedic practices are maximizing staff productivity? There’s one place to get the answers to these and other questions you may have about issues such as ancillary services, marketing, and financial benchmarking—the 2010 AAOS Practice Management Symposium for Practicing Orthopaedic Surgeons.

This exciting educational course is scheduled for Tuesday, March 9, 2010—the first day of the 2010 Annual Meeting in New Orleans. The full-day session, under the direction of Thomas J. Grogan, MD, and Michael Q. Freehill, MD, is structured to provide you with practical guidance and expert advice on business matters—including topics you never covered in medical school.

Speakers will cover a variety of topics ranging from the value of physician and nonphysician ex-tenders to the importance of developing a financial dashboard for your practice. In addition, panels of physicians and practice executives will comment on the speakers’ presentations and respond to your questions.

You’ll have the opportunity to learn what works in the real world, based on immediate feedback from attendees. An interactive audience response system will enable you to weigh in on issues and see just how other orthopaedic surgeons respond.

With the emergence of quality measures, the growth of hospital/physician healthcare systems, and the shifting landscape of healthcare reform, Drs. Grogan and Freehill are introducing a completely new topic. They’ve asked physicians in five different practice settings (solo, small group, large group, academic, and hospital) to provide their perspectives on “How Emerging Healthcare Trends Are Shaping Orthopaedists’ Decisions Regarding Their Practice Setting.”

David Teuscher, MD, will present the lunchtime program, “What Might the Next 8 Years Hold—Status Quo or Shell Shock?”

Speakers and panel members include orthopaedic surgeons and outside practice advisors who are experts in their field. Physician attendees can earn up to 8 AMA PRA Category 1 CME Credits™.

Due to room size, space is limited; AAOS and AAOE members should register early to ensure a seat. On-site registration may be available but is not guaranteed. To register, go to www.aaos.org/register (member login required). If you have questions, call (847) 384-4190.

Steven E. Fisher, MBA, is manager of the AAOS practice management group. He can be reached at sfisher@aaos.org or (847) 384-4331.

AAOS: Focus on practice management
Turn to the AAOS for all your practice management needs throughout the year. Here are just a few of the ways AAOS practice management resources can help you.

• The online Practice Management Center is your source for information and news on important topics. It’s accessible any time, day or night, whenever you have a question or problem.
• Tune into the practice management audio series for practical advice on key issues. Download podcasts or pop in a CD to learn about implementing digital radiography or managing payor agreements; both formats are available through the online practice management store.
• Test your knowledge with the Practice Management Self-Assessment Examination.
• Consult the Practice Management Resource Directory to identify companies that provide products and services to orthopaedic practices—and have been tried and tested by your colleagues.
• Even if you have completed graduate medical training, consider subscribing to the Residents’ Practice Management Lecture Series to gain useful information on running your office efficiently and effectively.
• Don’t hesitate to contact AAOS staff for practice management assistance and guidance. AAOS is one of the few national medical specialty societies with seasoned orthopaedic practice executives and orthopaedic practice management consultants on staff for support.