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Understanding why a Doctor needs to be an Entrepreneur as well

With all the years of education and training it takes to become a doctor, it’s easy to forget that many physicians also have to be business managers. Their lives are sometimes equal parts MD and MBA, but without the requisite training.

Even for a doctor with good business training or experience, the thought of doing business management ahead of patient care is unappealing. The typical outcome is a cobbled-together management system, muddled through after seeing patients all day or spending a lot of capital on a dedicated business manager.

Similarly to many physicians using off-site labs to delegate work elsewhere, using software and other tools make the management of the practice easier, more effective, and more cost-efficient. Best of all, this happens with less stress and fewer chores not related directly to patient care. Let’s review some of the common options:

Data Management

Data Management

There has never been a time when more information was collected and managed by medical practitioners. From insurance information to past lab results, there is an endless stream of data that flows through doctor’s offices. Managing these countless pieces of data can be overwhelming, especially in light of the critical need for security and privacy.

Most doctors don’t have the background to implement a good, secure system of filing and storing information, but they still know that they need some type of computerization. The problem is that even the process of choosing that system is complex. Doctors working on choosing a practice management solution benefit greatly from expert advice relating to analyzing and comparing various options and making the best decisions for their practice.

Marketing

online presence

Forget the days of the frontier doctor as the only medical help in town. Today’s practices are so varied in their type and style that patients are frequently on the move, searching for a doctor who better suits their needs and preferences.

Standing out in a crowded field calls for a good marketing plan that properly characterizes both practice and practitioner in a way that they can be found by the patients who best match their style. And the growing field of digital healthcare marketing calls for firms and physicians who want to make the most of their online presence to present a good image and manage their online profiles effectively. At the same time, traditional techniques like mass media and word of mouth still play a major role in getting the practice seen and the appointment book filled.

Personnel Management

Personnel Management

Another outdated image is the simple family practice staffed by a doctor and a veteran nurse. There are more people working in your doctor’s office today than ever, with a couple of nurses assisting with care, two or three administrative workers, and possibly a nurse practitioner or physician’s assistant to help manage the patient load. This base number compounds rapidly as additional doctors join the staff.

What results is a large group of people who must be solicited, vetted, interviewed, hired, trained, evaluated, promoted, and much more. These complex needs, along with the sheer size of the staff, call for a higher personnel management workload than doctors have time for. As a result, they’re calling on staff management companies to help them deal with these duties.

As patient loads become heavier, documentation grows more demanding, and government red tape multiplies, it’s more appealing for a doctor to be able to simply walk in the door and start seeing their patients. The more functions they can shift elsewhere, the closer they can get to that goal.

Article Submitted By Community Writer

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Dr Prem Jagyasi (c)

Dr Prem is an award winning strategic leader, renowned author, publisher and highly acclaimed global speaker. Aside from publishing a bevy of life improvement guides, Dr Prem runs a network of 50 niche websites that attracts millions of readers across the globe. Thus far, Dr Prem has traveled to more than 40 countries, addressed numerous international conferences and offered his expert training and consultancy services to more than 150 international organizations. He also owns and leads a web services and technology business, supervised and managed by his eminent team. Dr Prem further takes great delight in travel photography.

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