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Why Doctors Need to Consider Medicine a Business

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The Business Basics of Building and Managing a Healthcare Practice

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Abstract

This chapter is meant to reassure you that you have made a good decision to join one of the greatest and most enjoyable professions on this planet. However, in order to have that enjoyment, it will be necessary to have a modicum of business skills that you probably did not receive as a medical student.

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References

  1. Association of American Medical Colleges. https://news.aamc.org/press-releases/article/applicant-enrollment-2017/.

  2. Conover C. Are U.S. doctors paid too much? https://www.forbes.com/sites/theapothecary/2013/05/28/are-u-s-doctors-paid-too-much/#19124c5dd525.

  3. Span P. When is the surgeon too old to operate. https://www.nytimes.com/2019/02/01/health/surgeons-retirement-competence.html.

  4. Physician compensation survey-comparing employed physicians vs. practice owners. November 13, 2017. https://www.physicianspractice.com/physician-compensation-survey/physician-compensation-employed-vs-practice-owners.

  5. Choyke B. ABA legal education section releases employment data for graduating law class of 2016. https://www.americanbar.org/content/dam/aba/administrative/legal_education_and_admissions_to_the_bar/statistics/2017_employment_data_2016_graduates_news_release.authcheckdam.pdf.

  6. National Health Spending in 2017. December 16, 2018. https://www.healthaffairs.org/do/10.1377/hblog20181206.671046/full/.

  7. The rise of the MD\MBA degree. The Atlantic.2 September 29, 2014. https://www.theatlantic.com/education/archive/2014/09/the-rise-of-the-mdmba-degree/380683/.

  8. Jauhar S. A doctor by choice, a businessman by necessity. New York Times, July 7, 2009:D5.

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Author information

Authors and Affiliations

  1. Department of Medicine, Office of Admissions and Student Affairs, Tulane University School of Medicine, New Orleans, LA, USA

    Marc J. Kahn

  2. Tulane University School of Medicine, New Orleans, LA, USA

    Neil Baum

Authors
  1. Marc J. Kahn
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  2. Neil Baum
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Editor information

Editors and Affiliations

  1. Tulane University School of Medicine, New Orleans, LA, USA

    Neil Baum

  2. Tulane University School of Medicine, New Orleans, LA, USA

    Marc J. Kahn

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Kahn, M.J., Baum, N. (2020). Why Doctors Need to Consider Medicine a Business. In: Baum, N., Kahn, M. (eds) The Business Basics of Building and Managing a Healthcare Practice. Springer, Cham. https://doi.org/10.1007/978-3-030-27776-5_1

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  • DOI: https://doi.org/10.1007/978-3-030-27776-5_1

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  • Publisher Name: Springer, Cham

  • Print ISBN: 978-3-030-27775-8

  • Online ISBN: 978-3-030-27776-5

  • eBook Packages: MedicineMedicine (R0)

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