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PART FOUR - SUCCEEDING IN PRACTICE

Published online by Cambridge University Press:  08 August 2009

Saul Wischnitzer
Affiliation:
Albert Einstein College of Medicine, New York
Edith Wischnitzer
Affiliation:
Albert Einstein College of Medicine, New York
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Summary

Medicine as a profession has been changing drastically over the past quarter century. Business concerns now dominate the delivery of health care services. Thus a resident nearing the end of their training and planning to enter practice needs to become familiar with the basic elements of the business of medicine in order to establish a successful practice. This is needed as an adjunct to mastering the clinical skills relevant to their specialty. Obtaining familiarity with the business side of medicine will enable the physician to advocate for patients with insurers, understand billing procedures in order to avoid government audits, be able to properly negotiate, if necessary, capitation and managed care contracts, and manage to decrease expenses while increasing productivity in the office. Being qualified to handle the business aspects of a practice not only will enhance the chances for financial success, but also will make your practice a more efficient, reliable, and worthwhile venture.

The revolution in medical practice has resulted from the evolution of managed health care and the consolidation of hospitals and clinics into vertical health delivery systems. By becoming adequately acquainted with the changes that have taken place in this area, you will find it easier to adjust and prosper in the new environment that you will be entering upon the completion of your postgraduate training. You will then be in a better position to make the critical decisions that can strongly impact your future success financial as a practitioner.

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Chapter
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Wischnitzer's Residency Manual
Selecting, Securing, Surviving, Succeeding
, pp. 259 - 260
Publisher: Cambridge University Press
Print publication year: 2006

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  • SUCCEEDING IN PRACTICE
  • Saul Wischnitzer, Albert Einstein College of Medicine, New York, Edith Wischnitzer, Albert Einstein College of Medicine, New York
  • Book: Wischnitzer's Residency Manual
  • Online publication: 08 August 2009
  • Chapter DOI: https://doi.org/10.1017/CBO9780511547188.024
Available formats
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Send book to Dropbox

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  • SUCCEEDING IN PRACTICE
  • Saul Wischnitzer, Albert Einstein College of Medicine, New York, Edith Wischnitzer, Albert Einstein College of Medicine, New York
  • Book: Wischnitzer's Residency Manual
  • Online publication: 08 August 2009
  • Chapter DOI: https://doi.org/10.1017/CBO9780511547188.024
Available formats
×

Send book to Google Drive

To send content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about sending content to Google Drive.

  • SUCCEEDING IN PRACTICE
  • Saul Wischnitzer, Albert Einstein College of Medicine, New York, Edith Wischnitzer, Albert Einstein College of Medicine, New York
  • Book: Wischnitzer's Residency Manual
  • Online publication: 08 August 2009
  • Chapter DOI: https://doi.org/10.1017/CBO9780511547188.024
Available formats
×