This is the new second edition of the most popular business and practice management book for physicians, students and residents. Second edition contains new material for the same low price. The second edition includes a new part III section and includes pearls and proceedings from the 2012 Medical Entrepreneur Symposium. Tip for Doctors & Medical students: You should read this book before signing any contract, joining a medical practice or starting a medical practice. This book is written to help doctors, medical residents, medical students, and physicians in private practice and academia avoid costly business mistakes in their post medical school career. It is uniquely written from the perspective of a successful physician entrepreneur. The book provides tips, steps, pearls, and pitfalls written in a concise manner. Busy doctors with little time can quickly access critical cost saving information when joining or starting a private practice. Topics include everything from how to set up a practice, sign a contract with another group, hire another doctor, contract with insurance companies, understand health regulations including the HITECH stimulus act, how to qualify to receive stimulus funds, billing in the office, hiring and firing personnel, picking a location, obtaining hospital privileges, applying for the required licenses, electronic health records, practice management software, health technology in the office, how to protect your estate, liability issues,marketing and public relations, design of the medical office and more. Also written for the physician entrepreneur, the book explains how to raise capital, term sheets, understanding venture capital, board of directors, incorporation election issues, how to understand financials, balance sheets, negotiations, hiring the management team, how to take an idea and turn it into an operating business, how to protect your intellectual property, copyrights, trademarks, patents, customer acquisition and how to deal with a business when things go wrong. The book covers much more and includes expert "stat consults" or opinions from corporate attorneys, intellectual property attorneys, board certified health care attorneys and estate attorneys.