HealthLeaders Media PhysicianLeaders - July 31, 2008 | When should MDs get MBAs? View as a Webpage | Subscribe for Free
When should MDs get MBAs?
Elyas Bakhtiari, Managing Editor

There's a lot to be said for the U.S. medical education system. In a few short years it transforms the best and brightest young adults into highly-trained physicians with the knowledge and character to make life or death decisions. But practicing medicine today requires more than strong clinical skills. There are also financial and operational decisions to make, and that is where most medical schools fall short. [Read More]
  July 31, 2008

Editor's Picks
Doctors vs. patients
Patients are increasingly distrustful of their physician—nearly one in four patients feels doctors sometimes expose them to unnecessary risk—according to this New York Times piece. Part of the blame can be placed on two converging trends. Physicians are being financially squeezed and forced to change practice styles at the same time that patients are becoming informed consumers and demanding better service. However, some physicians also have trouble relating to patients after years of insulated training and practice. A somewhat related article in the Washington Post shows what can happen when this distrust is taken to the extreme. [Read More]
Doctors vs. insurers
Insurance companies are increasingly rejecting imaging procedures recommended by doctors in order to reduce the $30 billion each year they say is wasted on unnecessary imaging procedures. Some insurance companies have managed to cut costs by requiring prior authorization. The problem of imaging costs is serious, but are patients best served by letting insurance companies, rather than doctors, make medical decisions? When a patient dies because a serious problem was overlooked, who will bear the brunt of the ensuing malpractice lawsuit? [Read More]
The return of the company doctor?
It's every physicians dream: Graduate from medical school, complete a residency program, and then go work for . . . Toyota? It may not be the traditional model, but more companies are realizing they can save big bucks by opening work-site medical clinics. Toyota, Harrah's, Disney, and others are already taking this corporate approach to cutting healthcare costs. It's not a bad deal for physicians, either. They usually have very manageable workloads and access to the best equipment. But as BusinessWeek points out, patients can sometimes question whether the doctor's loyalty lies with them or the company. [Read More]
Going bare in South Florida
More than one-third of doctors in the Miami area now practice without malpractice insurance—known as "going bare." Doctors in Florida still have to pay $250,000 per malpractice award, with a maximum of $750,000 per year. But some claim that malpractice insurance premiums are so high, it makes more financial sense to practice without it. It may seem risky, but lawyers are also less likely to sue doctors who don't carry insurance. [Read More]
GOP tries to woo docs back to the fold
This Politico article offers an interesting glimpse at the politics of healthcare. Health professionals now give more money to Democrats, after years of favoring Republicans. The trend began in 2006, but Republican opposition to the recent Medicare bill that halted a 10.6% payment cut to physicians made the problem much, much worse for the GOP. [Read More]
Business Rx
Understand Types of Referral Sources to Reach Out in the Right Way
Every physician should be familiar with his or her sources of referral business. This will help define the specialties and areas of practice that are driving your volume, and also identify the geographic areas where you have the most opportunity to grow new referral business. [Read More]
Physician News
Doctors don’t change their routine during longer consultations
Medical News Today - July 31, 2008
Most Massachusetts botched surgeries done on spine
Boston Globe - July 30, 2008
Temple University doctors in insurance impasse
Philadelphia Inquirer - July 25, 2008
Injunction to stop 10% reduction in fees to providers denied by California judge
San Francisco Chronicle - July 31, 2008
September 17: Physician Practice Staffing: Five Strategies to Become the Employer of Choice
August 9: Recruiting Today's Physician: Competitive Compensation Packages and Practice Structures
August 6: OR Overhaul: 5 Surgical Site Improvements Every Leader Should Make Today
On Demand: Service Line Strategies Workshop 2008: Neurosciences
From HealthLeaders Magazine
The Hospital
of the Future

HealthLeaders July 2008
Sure, your organization offers sophisticated, compassionate care. But the patients of tomorrow will want much more than that. Here's how some hospitals are creating facilities for a new vision of healthcare. [Read More]
PhysicianLeaders Forum

Are Doctors Underpaid? Contributor Phillip Miller, vice president of communications with Merritt, Hawkins & Associates, examines recent physician compensation trends and considers the potential consequences of not paying doctors what they're worth. [Read More]
Audio Feature

Convenient Care Clinics and Stand-Alone ERs: A Threat to Doctors? Paul Breslin, a senior principal at the Noblis Center for Health Innovation, discusses the strategic implications of the proliferation of convenient care clinics and standalone emergency rooms to physicians and physician practices. [Listen Now]
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Resources From HealthLeaders Media

Learn how to harness the power of a large organization, either by expanding the practice or partnering with hospitals, private investors, or other physician groups, with Physician Entrepreneurs: Strength in Numbers.
Read about the latest business strategies to help you grow beyond traditional practice models in Physician Entrepreneurs: Going Retail.
Start marketing your practice or refine your existing marketing program with Physician Entrepreneurs: Marketing Toolkit, a new HealthLeaders Media book that combines expert tips with marketing samples, tools, forms, and checklists that will help grow your practice.
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