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Understanding the Other Side of Medicine


Discovery Resource #
Resource Topic: Professional Development
Planning Tools: Survival Tool
Career Phase: Learn
Description: Becoming a business minded physician
Description:
Today’s healthcare is much more than the practice of medicine. Physicians and administrators must be familiar with the non-clinical aspects of healthcare if they are to be sustainable and successful financially. From the basics of government and private insurance, to reimbursement methods, payment models, practice paradigms and new industry trends, this indispensable guide provides much-needed information for medical students and residents on the often-overwhelming requisites, protocols, and regulations of today’s healthcare system.

The Business of Medicine chapter reviews essential skills needed to increase your likelihood of success as a practicing physician. Medical billing and coding, practice revenue cycle, physician contracts, and other topics will be presented in a practical format to be applied in multiple practice settings.
Objectives:
  • Learn the revenue process and fiscal responsibilities for healthcare organizations and the impact on physicians, organizations and patients.
  • Analyze how today’s changing health care system, recent reforms, and the economics of practicing medicine are critical to career decision making and professional success.
  • Review the practical business and administrative tasks critical to “onboarding” as a physician, including, credentialing, schedule planning, budgeting, and benefits coverage.
  • Assess the medical documentation requirements to support billing and coding, generate revenue, compensation, and healthcare quality.
  • Read the social media do’s and don’ts for new physicians.
Author: Kyle J. Anderson, MBA, PhD
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.