I'm Jim Mangraviti from SEAK, and I'm here with SEAK's President and Founder, Steve Babitsky. Can you give me some specific examples of physician consultants that you've worked with, kind of what they do and who pays them for it? Steve Babitsky: Sure. We've have hundreds of people go through our consulting course. One example would [...]
Hi, my name is Attorney Jim Mangraviti. I'm here with Attorney Steve Babitsky from SEAK, and we're going to talk briefly today about how physicians can perform disability reviews for insurance companies. Steve, what is the role of the physician regarding reviewing disability claims? Steve Babitsky: Physicians are asked to review claims by insurance companies and IROs and [...]
Hi, I'm Attorney Jim Mangraviti from SEAK, and I'm here with Attorney Steve Babitsky from SEAK. And today we're going to talk about how to become an independent medical examiner. Steve, what is an independent medical examiner, and what do IME doctors do? Steve Babitsky: Independent medical examiners are physicians who examine for insurance companies and independent [...]
With more and more physicians practices being acquired by groups and hospitals one of the key questions raised is will the physicians retain their rights to supplemental income? These rights include fees for: consulting, acting as an expert medical witness (plaintiff and defense), performing Independent Medical Evaluations (IME's), performing disability and file reviews, medical writing, physician inventions etc. [...]
Doctors can earn substantial amounts of money through writing. Successful physician novelists like Tess Gerritsen, MD can earn seven figures each year. Physician authors of trade and text books published through traditional publishers typically receive a royalty of 10-15%. The amount earned will depend upon the price of the book and the number of sales. Keep in mind [...]
Making money from self-publishing is doable. There are growing numbers of examples of physicians and others making money from self-publishing. There is no longer a stigma associated with self-publishing. Countless examples of successfully self-published authors have eliminated this stigma. You can actually make it happen. Not forced to wait for a green light from agents and publishers. Segue [...]
Have a hot topic. The more unique your expertise and the more important the topic in terms of seriousness or money at stake, the better. Inherent credibility. This can be based on your experience in the field, publication record, etc. Write on the topic you want to speak on. Not only will this bring you inherent credibility, your [...]
Physician inventors are often faced with the daunting task of raising capital to turn their invention into a profitable company. David Scharp, speaking at the SEAK Non-Clinical Careers for Physicians Conference gave some suggestions for potential sources of capital. These include: Source of Investors Yourself Family & Friends Partners Private Investors Sharks Angel Investors Venture Capital Investors Banks [...]
A new study of premarket approval applications (PMAs) indicate that physician inventors are playing a significant role in inventing of medical devices. The study in Med Care of May 2013 entitled “How much do physician-entrepreneurs contribute to new medical devices” concluded: On average, physician-founded companies account for 11% of the information in PMAs, compared with 4% from nonphysician-founded [...]
Physicians who encounter problems at work are now doing something about them with their medical device inventions. Physicians are in the best position to come up with medical devices to solve vexing problems they encounter in patient care. What kind of medical devices are physicians working on? Medical devices range from simple tongue depressors and bedpans to complex [...]