Our purpose is to provide the graduating and practicing urologist with an understanding of the business of a medical practice. All doctors leave medical school and their postgraduate training with excellent skills for diagnosing and treating medical illnesses. However, nearly every new doctor leaves his or her training with little to no skills to become successful businessmen and businesswomen. In fact, most physicians are now stereotyped as poor business people. Doctors have a reputation for being good at caring for their patients, but poor at managing the business aspect their practices.
Currently, few medical schools offer any courses or advice on the business of medicine.1 There are now 65 medical schools that offer a combined MD/MBA program.2 However, you do not have to have an MBA to be able to grasp the basic concepts of business that will affect your practice.
If you do not understand the business component of your practice you may not be able to survive in today’s marketplace where profit margins are going to be razor thin. You will no longer be practicing medicine and providing the care to the patient that you went to medical school for in the first place.3
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