Why Medical Schools Should Offer Entrepreneurship Classes for Doctor Ownership

Virtually all countries have seen a shift in the landscape of medical practices, with solo doctors becoming increasingly rare. Instead, group practices have become the norm. This change is driven by the high costs associated with maintaining a private practice, such as student loans, malpractice insurance, and the need for specialized staff. Many argue that adding entrepreneurship classes in medical schools could provide future doctors with the skills needed to manage their own practices. However, this initiative is hampered by several practical challenges.

The Current Landscape

Doctors today are less interested in owning their own medical practices. The current economic realities and the complexities involved in running a private medical office are too daunting. Hospitals and group practices provide a ready solution, where doctors can focus on patient care without worrying about the day-to-day management and administrative tasks.

Why Doctors Prefer Group Practices

Dating back to the late 1980s, when personal practice was a common norm, things have changed dramatically in the medical field. Today, it is almost impossible to find a solo doctor. The few who remain are typically looking to retire or have a history of quality control issues that make them undesirable for larger groups or hospitals to employ. This shift is part of a broader trend that has seen the focus move away from solo practices and towards group and corporate settings.

The Practical Challenges

The primary barrier to incorporating entrepreneurship classes into medical school curricula is the time constraint. Doctors are already burdened with a heavy workload that focuses on education, clinical training, and patient care. Additional classes would require an expanded and more diverse curriculum, which is not feasible given the current pace and nature of medical education.

Why Business Skills Aren’t Taught

Medical schools are primarily concerned with training doctors to be competent in their clinical duties. Their focus is on the education and specialty training that will prepare students to provide high-quality medical care. Consequently, business courses are not a priority. For those who are interested in the business side of medicine, participating in higher education programs such as MBA or business school can be a viable alternative. These programs provide the necessary business acumen and management skills that doctors may need in the future.

Continuing Education in Practice Management

There are numerous opportunities for doctors to enhance their entrepreneurial skills through continuing education courses. Post-graduate programs and workshops offer valuable insights into practice management, including financial planning, staffing, and operational efficiency. These classes can provide doctors with the knowledge needed to run a successful practice, even if they don’t incorporate such skills during their initial medical training.

Conclusion

While the idea of integrating entrepreneurship classes into medical school curricula is compelling, several practical challenges must be addressed. The primary issue is the time and resource constraints associated with the current medical education system. Instead, doctors can enhance their business skills through specialized courses and continued learning opportunities available outside of their medical training.