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Cardiologist Stanley Liu discusses his article “The business lesson new doctors must unlearn.” Stanley explains why the habits of being a “good soldier” during residency—such as accepting excessive workloads, never questioning compensation, …
In some careers, your job is not something you do; it is something you are. Medicine, acting, and politics are intimate, high-visibility professions that blur the lines between personal identity and professional role. You are not just executing a skill; you are bringing your whole self into the room, exposed and accountable.
When things are going well, that visibility can feel exhilarating. You are recognized, affirmed, even admired. Your face becomes …
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Attorney and wealth manager David B. Mandell discusses his article “Why physicians are unlike the ‘average’ investor,” highlighting why doctors face unique financial challenges compared to most U.S. investors. David explains the …
I’m often asked about how to pursue a physician entrepreneurial career pathway. Like Peter Medawar opined in his “Advice to a young scientist”, allow me to offer some advice:
You will not learn about innovation or entrepreneurship in medical school or residency. Medical education is designed to teach students clinical care and research methods. If you have an entrepreneurial interest, you will have to pursue it using alternative …
Medical errors happen every day, and patients are being harmed in hospitals. Despite years of tracking and reporting outcome-based quality measures, preventable harm remains widespread, prompting the Centers for Medicare & Medicaid Services (CMS) to launch the Patient Safety Structural Measure (PSSM). This measure, released in August 2024, focuses on structural and cultural root causes of harm rather than just retrospective results of quality improvement initiatives.
In our consultancy practice, we’re …
A physician’s financial journey isn’t always linear, and the journey can’t always be predicted in a how-to book. While the hospital-employed physician normally gravitates toward a path filled with benefits and retirement plans, the equity owner physician, or physician practice owner—both terms used interchangeably—has a much different pathway. Let’s dive into the equity owner physician a bit further.
Why choose ownership?
Like the term “business owner,” equity ownership physician is a generic …
I have only recently started thinking about strikes. They seemed like something other people did: railway workers, bus drivers, teachers, dockworkers. People with contracts. People who clocked in and out. Not doctors. Not surgeons. Certainly not me.
You and I were supposed to absorb and adapt. To advocate from within. And we did, for a long time. We bent ourselves into shapes that did not fit. Worked around all the broken …
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Critical care physician Jess Bunin, co-founder of All Levels Leadership, discusses the article, “Civil discourse as a leadership competency: the case for curiosity in medicine.” They challenge a core tenet …
Surthriving in the brave new world of sick care requires not just a new playbook, but players with new skill sets to execute the plans. Knowledge technicians are as obsolete as an NFL team with a running game but without a passing and special teams plan. Unfortunately, HR managers are getting it wrong. The biggest risk to future success and becoming a disruptor is a company’s existing …
Physicians joining private practices have a relatively new issue they should be aware of. As more practices are taken over by private equity, the traditional concerns of a physician joining a practice as an employee with the hope of becoming an owner are heightened.
Traditionally, the physician would join the practice as an employee, work for a few years, and get the “golden ring” of ownership after a few years. Often …
We don’t send SEAL teams into the field without backup, but we routinely send health care workers into no-win situations and tell them: don’t fail.
I celebrated friendship and teamwork during a Change of Command ceremony this week—full of honor, tradition, and those stirring reminders of what it means to lead. But one repeated phrase stuck in my craw: “This is a no-fail mission.”
It’s meant to inspire. It’s meant to light …
Don’t let a lawsuit undo decades of hard work. Here’s how to keep your wealth safe!
According to the American Medical Association, approximately one-third of all physicians will face a malpractice lawsuit, and just under 2 percent of physicians will face a lawsuit each year. While the volume of lawsuits seems high, roughly half of these lawsuits are considered frivolous. These statistics should prompt any physician to add asset protection measures …
The culture of medicine is shaped in quiet ways, by the way meetings begin, the pregnant pauses before a response, and the energy transmitted in emails sent and received. These seemingly insignificant experiences ripple outward, setting the tone for entire teams, shaping what is spoken and what is not, shaping what feels possible and what feels unsafe.
The culture of medicine is not an abstract force. It is built moment by …
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Health care marketing strategist Sara Meyer discusses her article, “First impressions happen online—not in your exam room.” She explains why a physician’s online presence is often the deciding factor for potential patients …
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Health law attorney Dennis Hursh discusses his article, “Why hospitals are quietly capping top doctors’ pay.” For nearly 40 years, he has reviewed physician employment agreements and reveals a shocking recent trend: …
Like many of my fellow physicians, I suspect I’m two things: a child of immigrants and a child of a physician. That combination gave me a unique window into two fundamental systems, health care and global economics, long before I studied either formally. I saw the sacrifices and hard choices required to navigate both, often simultaneously, with no geographic boundary ever limiting our responsibilities.
Many vivid memories from childhood have stayed …
Lately, I have seen a few instances where physicians have been tricked by a term in their physician employment agreement that clearly does not mean what the physician thinks it means.
The most recent example came when I was negotiating a physician employment agreement, and the physician suggested verbiage concerning her scheduling. The physician suggested that we ask for language that the employer would develop a clinical schedule “after consultation with …
What’s a dyad and how do I fit into it?
What do I do? These are the questions every new health care leader asks themselves, as I did, when they first join a dyad partnership. Although there has been much academic writing regarding leadership dyads in health care, with a macro focus on structure and accountability and implementation, there is a paucity of material on the practical aspects of a dyad …
Hospital employment was once billed as the solution to the headaches of private practice — a way to gain stability, reduce administrative burden, and focus on patient care. But for many physicians, that promise has come undone.
According to the Physicians Foundation’s 2024 report, 60 percent of physicians report frequent feelings of burnout — the highest level on record. Instead of feeling supported, many employed physicians feel …
The evolving contemporary era of value-based health care (VBHC) demands new risk leadership. VBHC emphasizes quality, outcomes, safety, equity, and stakeholder satisfaction. With these goals come complex, cross-cutting risks, including workforce shortages, clinical complications, health care staff safety, cyberattacks, and supply chain disruptions. To address the modern risk situation, health care systems must allocate resources to resilient, enterprise-wide risk governance and innovations.
The enterprise risk management (ERM) framework is the centerpiece …
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