And let’s not forget the technological expertise required to make good electronic medical records choices. Payment rates are down, and payment models like Accountable Care Organizations (ACOs) reward scale. Part of the reason we’re seeing so much consolidation in healthcare is that it’s getting harder for small hospitals and medical practices to stay in the black.įor those of you who didn’t go to business school, that means stay profitable. Unfortunately, you don’t learn any of that in medical school. Medical Practice Management is a massive job, encompassing HR, facilities management, inventory management, interfacing with legal, accounting, marketing, payroll management, billing, interfacing with payers, and business strategy.
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