Business in Medicine Interest Group
“The practice of medicine is an art, not a
trade; a calling, not a business; a calling in which your heart will be
exercised equally with your head.” -- William Osler
A
lot has changed since Dr. Osler practiced medicine near the turn of the
20th century. The idealism remains intact, medicine is still an art,
and its challenges continue to exercise both the mind as well as the
heart. But medicine has since become greatly intertwined with
business. From the time we enter the hospital or clinic, whose budgets
must be balanced, to the patient we see in front of us, who may (but
may not) have insurance to pay for services, to the drugs we prescribe
and medical devices we use, all which cost money to develop and market,
nearly every action we will undertake as physicians will have a
business component.
Medical schools teach us all about the
human body and how to provide optimal care to the individual who
presents to us. Yet many of us are taught precious little about the
business side of medicine, and its enormous impact and influence. This
is a shame, for as physicians we will need to be educated about the
entire, complex web of medicine, including its business component, in
order to best serve our patients. And if we are not satisfied with the
status quo of the current system, the only way we will be able to bring
about change is by knowing what is broken – and what we can do to fix
it.
We hope you join us in learning more about the business of medicine, and sharing your contributions!
-Andrew and Pankaj