The mythical belief that nearly 100% of medical school students have accepted over the past century—that you can practice medicine without a business education—is part of the health care crisis and physician attrition crisis we see today. It is not only a cause, but also has an impact on the rapid collapse of private medical practice in our country.
The confusion that has been smuggled into the minds of medical students stems from the missing part of the myth: “…but only if doctors are allowed to practice medicine in the depths of poverty.”
The chink in the armor of every medical student who expects to be overwhelmed by elite medical skills and knowledge and experience the glamorous life of independent medical practice as a prestigious physician is recognized by medical school educators for a reason. It is deliberately withheld.
This rift is due to the fact that all medical schools in the United States are dictated by the medical-industrial complex, or worse, controlled by the “deep state” within the medical education system itself, leading to complete silence on two important aspects. It arises from the fact that they are forced to.
Printed or oral information and any form of instruction or exposure regarding the tremendous value and benefits of business education to all small commercial business owners (including practicing physicians) remains invisible. Medical students are so immersed in their medical education that it must include the necessary elements of medical practice to ensure financial stability throughout a career as a physician, whether employed or in an independent medical practice. I never realized that I had to.
For the past century, no business education was offered or offered to medical students. We’re not talking about an MBA here. The MBA is too superficial to be of value to practitioners.
Every physician in private practice can succeed and survive financially only if they learn business tools that prevent failure.
Where to find knowledge about how to start a private medical practice, effectively manage a successful medical practice efficiently and profitably, and how to use marketing strategies and properly to continually build a medical practice Has it come?
How do you avoid the many pitfalls in business that most physicians, without business knowledge, don’t immediately realize to prevent financial losses in their medical practices?
I predict that former medical students reading this information will probably think they should have been informed about the chink in their armor. I was certainly pissed when the truth came out.
As you know, I am one of the doctors who graduated from a top medical school with an elite medical education. I lost my professional medical practice due to financial reasons when I was at the cusp of my career as a practicing physician.
At that time, I truly believed that I had made no mistakes or foolish decisions, and that I had not found any contributing factors to that tragedy. I then worked in several medical settings over the course of 15 years in order to financially survive until retirement.
Unfortunately, I had no intention of retiring from being a doctor until I became incompetent. I would venture to say that hundreds or even thousands of doctors who lost their practices for financial reasons in the past believed the same thing.
My medical world seemed like a daydream as I felt suicidal because of that loss. I have let down my family, my co-workers, my profession, my patients, and my own usefulness. I felt it was caused by some other problem. So I vowed to find out what the cause was. Maybe you’re saying, “Well, I would have known right away.” I seriously doubt it.
After retiring, I began a 20-year study to find the cause. My wife and I had no income, no family money, and no home, so we started two businesses online to generate income in the first year. They failed, but they learned that they failed because they lacked business knowledge.
In my third year, looking for business education on minimal income, I found Dan S. Kennedy of Inner Circle Group, a world-class expert on business and marketing. He was called a “billionaire”. 23 years later, I’m still learning from him. This is where I learned the value of business education.
I quickly realized what had caused me to lose my job as a doctor. I had no business education. Admittedly, I had very superficial business knowledge, as everyone eventually does, but that is never enough. Over the past century, many physicians have lost their private medical practices and found that nothing was being done to solve the problem of business knowledge.
Physicians rarely acknowledge the losses in their practice. That would be an admission of one’s own financial incompetence, and that would be intolerable. Instead, they camouflage the problem by moving to another location and practicing. This is a good and acceptable means of maintaining integrity and dignity.
The more I learned about the hidden games we were playing, the angrier I became. I felt that what was important to the medical school was that I was a front-line doctor who reflected on the position of the medical school. Then it occurred to me.
Medical schools are nothing more than big corporations whose purpose is to make money. Companies are not obligated to provide us with external training (such as business education) that motivates all physicians to reach their full potential. They are also expected to donate more money to the school.
That medical school plan never worked out. The School of Medicine celebrates when it receives donations from 10 percent of its alumni during their medical careers.
Somehow I understood that I had to do something about it, it was an impossible mission for me. Why should a doctor have to suffer for what happened to me (there are many other stories of mine that I am embarrassed to tell)?
By my sixth year of studying the medical school education system, I finally understood the ultimate cause and solution to the series of financial problems that most physicians have learned to endure. Burnout is a toll that nearly half of practicing physicians admit.
Retirement without funds, working until age 80, not earning enough to send children to a good university, significant reduction in personal lifestyle factors, cutting-edge knowledge and new knowledge and knowledge. The sacrifices continue, including the loss of capacity for all physicians who could afford to gain. Updated skills to deliver better clinical outcomes and increase value to patients.
My research has proven that all of the above can be solved by business education for all medical students, at least those preparing for private medicine. But this excludes people who later discover that being indentured to government-run medical facilities means they no longer have control over the fate of their medical careers.
Curtis G. Graham is a physician.
