Many doctors may choose not to run a practice for several reasons, and these reasons can vary from personal preferences to the nature of their profession. Here are some common factors:
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Focus on Patient Care: Many doctors enter the field primarily to provide medical care and focus on patient well-being. The administrative responsibilities and complexities of running a business can be time-consuming and may divert their attention from patient care.
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Lack of Business Skills: Medical education primarily equips doctors with clinical skills rather than business management skills. Running a successful business requires a different skill set, including financial management, marketing, and human resources, which many doctors may not possess or have interest in developing. MedAdvocacy could provde the necessary operational assistance to a new doctor to ensure a successful and stress-free start-up.
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Regulatory and Administrative Burden: The healthcare industry is subject to numerous regulations and administrative burdens. Doctors may find it challenging to navigate the complex legal and regulatory landscape, leading them to prefer working within established healthcare systems.
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Risk Aversion: Starting and managing a business involves financial risks, and doctors may be risk-averse, especially given the significant investment in their education and the potential liabilities associated with healthcare practice.
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Time Constraints: Medical professionals often have demanding schedules with long working hours. Running a business requires additional time and effort, and many doctors may prioritize work-life balance and prefer to focus solely on their clinical responsibilities.
MedAdvocacy Alliance can assist doctors in several ways to overcome these challenges and promote their professional interests:
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Education and Training: MedAdvocacy Alliance can provide educational programs and training to equip doctors with basic business management skills. This can help them better understand the financial aspects, legal obligations, and administrative requirements of running a practice.
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Advocacy for Regulatory Changes: MedAdvocacy Alliance can advocate for simplified regulations and reduced administrative burdens. This can make it easier for doctors to navigate the business side of healthcare.
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Support Services: Offering support services, such as access to business consultants, legal advisors, and financial experts, can help doctors manage the non-clinical aspects of their practice more effectively.
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Networking Opportunities: Creating platforms for networking and collaboration among healthcare professionals can facilitate knowledge-sharing and mentorship. Doctors can learn from their peers who have successfully balanced clinical practice with business management.
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Legal and Regulatory Guidance: Providing doctors with clear guidance on legal and regulatory requirements can alleviate some of the concerns associated with running a medical practice.
By addressing these challenges and offering support in various forms, MedAdvocacy Alliance can play a crucial role in enabling doctors to navigate the business aspects of their profession more successfully, allowing them to focus on delivering high-quality patient care.
Many Doctors do not like the Existing Model
"We are paid under a fee-for-service model, which scares away a lot of graduates from starting practices. They don't necessarily want to run a business,"
"They're concerned about generating enough income," he said, while "if they got a job at the hospital … they have a guaranteed hourly income."
The existing model puts too much pressure on family doctors, who have to deal with overhead costs, administrative work, rent, utilities, insurance and staff and supply management — on top of caring for patients.
https://www.cbc.ca/news/canada/saskatchewan/doctor-shortage-sask-family-physician-1.6607146
