Business savvy regarding your urology practice may benefit from an MBA
The issues surrounding running a urology practice are much more complicated today, and having business/administrative knowledge as well as a medical degree may be one option that can help us through the labyrinth of medical practice.
Key Points
Business issues are increasingly becoming part and parcel of the medical practice. Unfortunately, while few of us receive any background in running a business, most of us are small businessmen and women.
With his MBA in hand, Dr. Berlin has helped shape health care policy. He has become active in the management and governance of his hospital's radiology division, which does not include any other MBAs.
Dr. Berlin looks at new contracts and determines whether they are profitable. He uses his MBA skills to evaluate operations and maximize efficiency and productivity in the radiology department.
There is a common assumption that having an MBA is the pathway to increased profits. This may or may not be the case, Dr. Berlin says. What an MBA does is allow you to maximize the delivery of health care in an efficient fashion and make the best use of your resources and staff. Dr. Berlin believes this will be even more important in the future as resources become tighter.
Potential code for prior authorizations on AMA CPT Editorial Panel meeting agenda
March 28th 2024"Good public and economic policy must align costs, benefits, and incentives; currently, all costs are incurred by physician practices, and all financial savings and benefits from prior authorization accrue to health insurance plans, leading to perverse incentives,” says Alex Shteynshlyuger, MD.
