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Should Doctors Learn Business?

Daniel Paull MD writes about why business skills are so important as a doctor, and why we should emphasize them in training.

September 8, 2023

How do we get physicians to develop the business skills they need, so they don’t get taken so heavily advantage of by the system, and other doctors?

What we don’t do is just ignore the topic altogether, as is the current practice in medical school and residency. There is essentially no mention of business, or anything like it in training.

Informed doctors will better be able to keep their doors open, keep autonomy, and practice good medicine.

A doctor that is heavily taken advantage of is an unhappy one, usually because they are forced to work in a system that they don’t fundamentally agree with.

 

A doctor that is heavily taken advantage of is an unhappy one, usually because they are forced to work in a system that they don't fundamentally agree with. Click To Tweet

 

So what is the solution?

I believe the best solution is that in medical school AND residency, there should be dedicated rotations where the goal is to learn the business side of medicine. Actually learn it by rotating with a doctor who is currently doing it, large practice, small practice, direct practice.

 

"In medical school AND residency, there should be dedicated rotations where the goal is to learn the business side of medicine."

 

Lectures are OK, but giving a medical student or resident an end of the day lecture on non-tested materials will probably be low yield.

A cautionary tale lecture may be more useful.

One month of medical education dedicated to this in medical school and residency will pay dividends.

All opinions published on SomeDocs-Mag are the author’s and do not reflect the official position of SoMeDocs, its staff, editors. SoMeDocs is a magazine built with the safety of free expression and diverse perspectives in mind. For more information, or to submit your own opinion, please see our submission guidelines or email opmed@doximity.com. Do you have a compelling personal story you’d like to see published on SoMeDocs? Find out what we’re looking for here and submit your writing, or send us a pitch.

All opinions published on SomeDocs-Mag are the author’s and do not reflect the official position of SoMeDocs, its staff, editors. SoMeDocs is a magazine built with the safety of free expression and diverse perspectives in mind. Do you have a compelling personal story you’d like to see published on SoMeDocs? Submit your own article now here.

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