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Dr. Ralph Cash: Teaching medical professionals how to run a practice.

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calling the shots and this is where
they learn to do it."
Residents are asked to consid-
er what kind of lifestyle they
Dr. Neil J. Stalker, chief of pe- would like to lead and how to de-
diatrics at Dukes Memorial Hos- sign a practice to support its de-
pital in Peru, Ind., was caught mands. They also receive
asleep at the switch, but he can't guidance on buying essential pri-
vate disability insurance and han-
say he wasn't warned.
"Part of my problem was that dling investments without
I hated business, so I left things becoming industry victims.
And they'll need the help. The
up to other people, which I knew
at the time was a mistake," he medical trade journal Medical
Economics reports that nearly 20
says.
Dr. Stalker, 47, is a graduate percent of all doctors are embez-
of a program at Children's Hos- zled because so many deem it un-
pital of Michigan that aims to professional to get involved in
teach medical residents how to many levels of a practice.
Those few hours of training
avoid the pitfalls of running a
with the Cashes helped Dr. Stalk-
practice.
Working as a team, Dr. Ralph er catch and prosecute a rogue
Cash, 69, and his wife, Barbara employee who managed to skim
Cash, teach Practical Manage- thousands of dollars in less than
ment, a popular monthly course six months. Without knowing
that touches on issues ranging how to recognize specific warning
from office operations to gaining symptoms, Dr. Stalker could have
insight into parents' and patients' been in serious trouble.
Dr. Sheela Geraghty, a second-
needs.
"Since they were kindergart- year pediatric resident at Chil-
ners, someone else has set the cur- dren's, is contemplating the
riculum for them," says Ms. Cash. complexities of starting a private
"All of a sudden they have to start practice, staying ahead of indus-

othing stings more than
learning an employee is
stealing profits from your
business.