"No doubt that all physicians at some time
in their medical careers, at least once, say to
themselves, "I've gotta get out of this rat race!"
In spite of all the various "reasons" physicians quit medical practice today, retire early, change careers, start other businesses, and are increasingly deeply frustrated with their professional careers today are in one way or another a direct consequence of the lack of an adequate income to meet their goals and needs. Just take a minute to think about it.
In the conscious minds of every physician there have been an assortment of images that they have carried for years, imagined and seen for themselves in their future medical career as it evolves. These feelings and visions may have begun early in childhood or were later triggered by an event or circumstance that confirmed for them it was the right thing to do in their life.
The choice was based on a strong belief that a medical career would satisfy their deepest yearnings to make a difference in the world, and provide the foundation for a happy life and fulfillment.
It may have started like that at the beginning for you. For many of the older physicians trained in the 1950's and 1960's, the fulfillment likely was a substantial element of their practices back then.
In the reality of today's world you experience a crumbling foundation under your medical career. Your medical career is not at all that you had envisioned. You recognize that you can't reach the goals you had set for your practice and for your lifestyle. You are very disappointed with your profession because it has let you down somehow.
Not only are you not happy in what you are doing, but also you now can see that all your dreams and plans may be unattainable--for all of the obvious reasons. Worst of all, you can't look ahead at your medical career in a positive light.
It means you have lost the hope that in the past motivated you to reach your present circumstances in your medical profession... and it's a sickening sight to behold! Not something to be happy about or even proud about for many physicians. In spite of all this fire branding negativity you still have some very positive alternatives that I give you on this website.
The core of the disintegrating medical professional career problem...
Give me the names of all the physicians you know of who appear happy and very satisfied with their private medical practice and their medical professional career and I will tell you that not one of them had a net income less than $300,000 per year. It is quite evident to me that having a practice with a significant income such as this eliminates almost all the complaining, whining, and loss of medical practices we hear about today.
My view of the core problem is to ask the question, "How can physicians in clinical medical practice boost their incomes to the level for themselves that provides the hope, goals, fulfillment, happiness, and satisfaction that they need and want?" There's only one answer.
The answer is what I am preaching every day of my life to the physicians who want to hear. You will never in today's economy, increasing political interaction with healthcare, and unresponsiveness of the medical school training programs achieve anywhere near the life and career you wanted without implementing successful business strategies and systems into your medical practices.
For those who aren't quite yet in tune with the essentials of a medical practice business success, marketing for physicians and practice marketing strategies are a critical element of successful business principles.
I challenge anyone reading this to give me their own ideas and solutions to this incredibly destructive gauntlet physicians must go through just to survive, without even mentioning the issues of happiness in their careers, and satisfaction with their lifestyle with their families.
Today, what physicians are left with is an ever increasing number of reasons to quit medical practice or retire. If the wealthy physicians are not complaining, not retiring early, or not quitting medical practice, then the logical reason has a lot to do with income. It is my serious belief that the level of a physician's income determines the level of their frustration with their medial careers.
Assuming that insufficient income is the cause of so much turmoil, burnout, dropping income, financial problems, family disruptions, inability to fund a retirement plan or pay for their kids college education, addiction, suicide, rapport problems, losing patients, losing medical practices for financial reasons, government fee restrictions, government medical mandates, being replaced my mid-level healthcare providers, inability to increase their medical practice income, and the lack of business knowledge, among others, then what else could be a major issue?
You don't have to be a genius to put it all together and come up with the truth of the matters. Most people and physicians know that hardly anything can be done without money, and that all money is derived from one form of business or another. That brings us back to the medical practice business as the source of income for both employed and private practice physicians.
So, if physicians in private medical practice created a business, and it does provide income, what's the problem? Well, there are two problems that have existed for the last century and continue today in the practice of medicine. First, public schools, college, and medical schools did not teach students anything significant about economics, financial management, or business and marketing principles or strategies.
Second, medical schools continue to refuse to provide or offer a business education to medical students is spite of the fact that medical education scholars may know the value of a business education to all physicians, yet deny their responsibility to do anything at all to correct the problem. Medical scholars as far as I know, likely are business ignorant themselves. Thus, their judgment automatically is compromised to a great degree against a business education being provided by the medical schools.
One can therefore resolve all of the above issues by implementing a business education curriculum, at least in all of the accredited 174 medical schools. Any smart 12 year old would recognize that if all physicians were able to make all the money they desired or needed for their medical careers, that nearly all the problematic issues noted above can be easily overcome, but only if they were provided an academic business education.
Common sense tells us that if the medical school scholars continue to refuse to add a business education curriculum in medical school, that the medical schools should at least require an academic business education for application to medical schools.
Another option would be to...
The fact that a business education could easily be structured on a digital platform, at low cost, and made available to all medical students during their four year medical education on a voluntary basis to learn from, when they are not involved in the normal medical school training and education process. A full CD, DVD, MP4, or Video package could be offered to all medical students to take home free, or pay for, as part of the marketing platform for recruiting new medical students.
What would entice physicians to remain in medical practice long term? A business education.
Requirements for maximizing your private medical practice income…
1. Good knowledge of medical practice management
2. Having the energy for continuous medical practice marketing
3. Medical practice business planning is important for direction
4. Marketing for physicians and their office staff is a winning set up.
5. Learn what makes a medical practice business successful
6. Your medical practice business system is essential.
7. Both practice marketing and physician marketing is rewarding.
8. Business success is the objective of all physicians in private medical practice.
9. My business teaching website—www.marketingamedicalpractice.com
----Professional Probe----
"This is your medical career "This is your medical career without a business education" with a business education."
Articles©2013-2022/CGG INVESTMENTS LLC. All rights reserved. #142, 3-16-22
