Career and Life Planning Guidebook for Medical Residents

SECTION I: T MINUS THREE YEARS C H A P T E R A U T H O R Kyle J. Anderson, MBA, PhD Clinical Assistant Professor of Business Economics at Kelley School of Business, Indiana University; The Business of Medicine MBA at the Kelley School of Business Kyle Anderson joined the faculty at the Kelley School of Business in 2008, and has taught Economics, Statistics, Strategy, and Marketing at the undergraduate and MBA level. He teaches in Kelley’s Business of Medicine MBA program, one of few physician-only MBA program at a top-ranked business school in the US. In addition, Kyle is the program chair for the Kelley Evening MBA program in Indianapolis. Prior to his academic career, Kyle spent several years as the administrator of an orthopedic practice. The Kelley Physician MBA is designed for physician leaders and is tailored to the physician learning style. Their one-of-a-kind curriculum, focused at the intersection of business and medicine, combines business and leadership fundamentals with specialized, strategic healthcare courses. Itmay surprise some people to learn that the business ofmedicine is not a21st-century invention. Healthcare has always been a business, as far back as the days when Hippocrates and his peers practiced medicine. Whether it was three goats, a gold coin, or a bank note, some type of payment was typically exchanged for medical services, and institutions of government or learning funded research. However, since the 1970s, business has been the major force directing the practice of medicine. Together, the business and science of medicine are the new kids on the block—the bright, shiny new things. Ideally, as I’ve suggested, the art, science, and business of medicine would work together in a harmonious partnership, each upholding the other and contributing all it has to offer to the whole. – Halee Fischer-Wright, MD Back To Balance: The Art, Science, and Business of Medicine CAREER AND LIFE PLANNING GUIDEBOOK FOR MEDICAL RESIDENTS 114