3.2 - The Businessman

Blog ID
102
Description
Now we're going to talk about how to be a businessman because that's what the physician needs to be since we are running a whole business.
Categories
Courses
Digital Health
Slug
the_businessman
Featured
Featured
Ready to Publish
Ready to Publish
Author
Junaid Kalia MD
Publish on
Feb 25, 2022
Status
Hide Page Cover
Hide Page Cover
Duration
3 min. read
Canonical
https://blog.aineurocare.com/3-2-the-businessman-696d0bcbf29c
Title Text
URL
https://junaidkalia.com/posts/the_businessman
Project
Medium Date
03/11/2022
Blog Note
Fix broken links for the ff: - Total expenditures per patient in hospital-owned and physician-owned physician organizations in California.pdf - Small Primary Care Physician Practices Have Low Rates Of Preventable Hospital Admissions.pdf116.7KB - 2019 Physician Inpatient Outpatient Revenue Survey.pdf - AMA - Physician Practice Benchmark Survey.pdf - State of the Independent Practice Industry Report - Kareo.pdf Also confirming if Independent vs Employed Per AMA Report (1) table needs an html version or screenshot from the previous blog will do? currently placed screenshot. β€”FV: Confirmed with to use Canva graphic table - DONE
ID YT
Substack Link
Video preview
Β 
notion image
Β 
Β 

Independent vs Hired - Who brings more Value?


Independent practices also have lower per-beneficiary costs
Lower 30-day readmission rate compared to hospitals
They reduce avoidable hospitalizations by 33%.
Β 
Β 
Β 
Β 
Β 

Who Earns more Money?


notion image
Β 
Β 
Β 
Β 

Understanding Revenue


Average Revenue Generated by Primary Care Physicians, Specialists, and All Physicians

According to a 2019 report from Merritt Hawkins, hospitals make on average $2.4 million a year net for every doctor they employ. No wonder they want – and can afford -- to lure doctors into indentured employment
Β 
Β 
Β 
notion image
Β 
notion image
Β 
notion image
Β 
Β 

Independent Physicians are loosing ground


Per Merritt Hawkins Report

Independent vs Employed Per AMA Report (1)
Year
Independent
Employed
Other
48.5%
43.7%
7.8%
34.6%
52.8%
12.5%
32.7%
57.9%
9.4%
31.4%
49.1%
19.5%
Β 

The Business of Health Care Depends on Exploiting Doctors and Nurses


Β 
notion image
Β 
Β 
Β 

Challenges in Private Practice


  • Contracting - Contracting with Insurers
  • Administrative Tasks - Lead to burnout
  • HealthIT - EHR Death by a thousand clicks & Cybersecurity
Β 

You are responsible for complete Care delivery workflow


notion image
Β 

Factors to consider


  • Who is Happier?
  • Both
  • Career satisfaction rate
  • 72 percent for employed physicians
  • 73 percent for self-employed physicians
Β 
Β 
Β 

Should I choose to be an Independent Physician or Employed?


  • Depends on your personality
  • Do you enjoy management task/ have skills?
  • Do you prefer to be your own boss?
  • Is your choice of Specialty highly dependent on being in a health system?
  • Is your Location highly dependent on being in a health system?
  • Is your choice of Specialty highly dependent on care team and multidisciplinary care?
Β 
Β 
Β 
Β 
notion image

You might also like

3.1 - Clinical Life is a Spectrum

3.1 - Clinical Life is a Spectrum

Let’s understand what clinical life is as a spectrum, why is it not a static thing but an actual career, and the life changes that comes with it.

3.0 - Clinician Work Spectrum - Module 3 Introduction

3.0 - Clinician Work Spectrum - Module 3 Introduction

We're glad to start at module number three which is going to be mainly about work type mix, how clinicians can have a work that has a spectrum in it.

Description
Page Type
Custom
Slug
cta
Link
Link Type
Order
Category
Placement
Hide
Hide
Button Style
Hide Page Cover
Hide Page Cover
Do not index
Do not index
Language
Supported by: IHIE and its Generous Sponsors!
Supported by: IHIE and its Generous Sponsors!

Institute of Health Innovation & Education (IHIE)

Transforming Care & Education for the Digital Age!
Digital Education Ecosystem as a Service for Digital Healthcare!
https://instituteofhealthinnovation.com
"If anyone saved a life, it would be as if he saved the life of all mankind"
"If anyone saved a life, it would be as if he saved the life of all mankind"
An AINeuroCare Academy Project - Digital Education for Digital Healthcare!

πŸ’‘ Learn! πŸŽ₯ YouTube πŸŽ“Β Academy πŸ’Œ Newsletter πŸ“ Blog
πŸ‘¨β€βš•οΈ Connect! πŸ•ŠοΈΒ Twitter πŸ–‡οΈΒ  Linkedin πŸ“ΉΒ Β TikTok πŸ“· Instagram πŸ—£Β Facebook
🌱 Living πŸ“š Pocketbook of 🧠 Neurology
🌱 Living πŸ“š Pocketbook of 🧠 Neurology
Applied, Concise, Practical, Up-to-date, Mobile-friendly, peer-reviewed & Open-Access Pocketbook of Neurology and related clinical specialties
notion image

πŸ§‘β€πŸŽ“ Why Contribute ?

🎟️ Contribution Application

Disclaimer: For Education purposes only. You must NOT rely on the information on this website as an alternative to medical advice from your healthcare provider

©️ 2022 NeuroCare.AIβ„’ Inc. and/or its affiliates. All Rights Reserved