Feedback on Practice Management, Mandates, Diversity, and MoM

Practice management for residents
I appreciate the recent editorial on teaching residents about practice management in an open minded and realistic manor. About 10 years ago, I started offering “The Business of Medicine” for orthopaedic residents at the Medical University of South Carolina (MUSC). I wanted residents to be better prepared for the real world than I was.

I had acquired enough knowledge through my multiple mistakes to understand that I really did not know much, so I enlisted local experts (certified public accountants and financial planners, attorneys, registered real estate agents) to talk to residents. Topics range from choosing a practice and evaluating employment contracts to contract negotiations, debt management, and asset protection. It’s really more of a “Life Skills” curriculum than a “How to Run a Practice” course. The lectures are among the best attended in the department.

The goal is to educate and not to “sell” any products or services. Talks by the local experts are screened to ensure the education mission is foremost. If not, they are asked not to come back.

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