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Remember the old Star Trek series? Dr. McCoy used the tricorder, it’s called. That’s right. He would wave this over the heads of some of his patients, and it would tell him exactly what was wrong with that patient. Well, guys I bring that up because that’s actually a project of Dr. Peter Diamandis. Now, he’s the author of a new book called “Abundance: The Future Is Better Than You Think”. You are going to be amazed at what this book says in here.

One of the things he does is he offers different prizes. This one is $10 million for somebody to develop a tricorder like this. That’s right. He’s putting up his money so that he can find out which person in the whole world can actually develop something that is lightweight and portable and it can find out exactly what’s wrong with a person, just as well as a board-certified doctor. So it’s just a fascinating book because it talks about the future.

Of course, if you listen to all the talking heads on TV, you hear all these negative things about the world’s coming to an end. We’re running out of oil. We’re running out of water. We’re going to run out of food, too many people, etc., etc. This book clarifies that the future is much better than you think in all kinds of areas – computers, the development of energy, water, technology, and so forth.

He has a whole chapter in here, of course, on healthcare, which was fascinating to me because we’re in the medical billing business. Right? You’re looking at getting into the medical billing business. This has a great chapter on what the future holds for healthcare. Believe it or not, one of the things he says that’s really good for us, as people in this business, are that doctors are going to be in short supply. That’s right. By the year 2025, we’ll be short 150,000 doctors in the United States, 150,000.

Now, how does that apply to us? Well, look, you’re in the business of providing services for the doctor that help the doctor solve cash flow problems. The doctors don’t have time to see all these patients. If there are fewer doctors, they’re going to see more patients. Right? With more patients, that takes away from the time that they have to spend on focusing on their cash flow, getting the money in the practice.

You can help with that as an American Business Systems’ licensee in the medical billing business, solving those problems for doctors. So, anyway, I thought I’d just share that with you. I’ll try to give you some quotes from this in future blogs, but the future looks bright. If you haven’t gotten down here to one of our live training workshops, what are you waiting for?

Click here to take the eTour of our program!

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Video Transcript

Patrick Phillips, Founder and CEO, American Business Systems

“Doctors are spending all day stamping out fires, when all around them the forest is ablaze.” That’s a great quote here from Dr. John Kivett. It’s from a book called “The E Myth Physician, Why Most Medical Practices Don’t Work and What To Do About It.” Of course, it’s aimed directly at doctors, but I picked it up on the bookshelf the other day because this is the business that we’re in is helping doctors get out of having to stomp those fires and collecting their money for them, and so forth.

So I wanted to read you just a couple of quotes from this book. I think you’ll find it interesting how it ties in with the medical billing business. Here’s a quote says: “Unfortunately, few doctors pay attention to their cash flow until it stops, and slow pay becomes no pay.”

You know folks, you don’t realize the problem that doctors are having out there, unless you’re in this industry, with the insurance companies and with their patients even, collecting the money. Those slow pays actually become no pays, and the doctor ends up writing off thousands of dollars at the end of the year. So as a cash flow consultant, trained by American Business Systems, you’ll be able to solve those cash flow problems for doctors, so they don’t have to go around stomping out fires.

He goes on to say: “When it comes to money, to cash flow, most doctors are flying by the proverbial seat of their pants.” Then he goes on to say that: “One of the ways they can solve their cash flow is to increase the time that they spend seeing patients.” Well, how can they do that when they are running around, them and their staff, trying to figure out how to collect the money from the insurance companies and their patients?

What we do is take that away from them. We are the specialists. We can focus on that while they can focus on seeing more patients, which, of course, increases the doctor’s cash flow right there.

Then he goes on to say: “Every task performed in your practice can be done more efficiently and effectively, dramatically reducing the cost of doing business.”

You see, the doctors don’t realize that their practice is a practice. Yes, they’re practicing on you and I trying to figure out how to get us well, but it’s also a business. So by focusing on the things that are important in their practice and letting you and I do those things more efficiently and effectively, like collecting the money from the insurance companies, they’re going to add more money to their bottom line and be much, much happier. And you will be happier as an ABS licensee.

Hope I see you down here at one of our live training workshops, just as quickly as possible, so you can start solving those problems for doctors too.

To learn more about becoming a medical billing specialist take our eTour today.

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