WASHINGTON, DC – FEBRUARY 2, 2024 – In, a new book published by the American Association for Physician Leadership, author and nationally-known marketing expert Neil Baum, MD, articulates the business aspect of managing a career in medicine—something he feels is left out of the curriculum in medical school.
“Today, nearly every doctor who graduates from medical school leaves their postgraduate training with excellent skills for diagnosing and treating medical illnesses,” Baum writes in the book’s introduction. “However, the majority leave their training programs with no skills or with, at most, a few skills to become successful businesspeople. In fact, most physicians have earned a reputation as being deficient in the business of medicine, of being good at caring for their patients but poor at managing the business aspect of their practices.”
“If (physicians) don’t understand the business component of their practice, they may not be able to survive in today’s marketplace, where profit margins are razor thin. American healthcare is different than every other profession or business. Healthcare is the largest and most regulated industry in the U.S. economy, and because of excessive regulation, it doesn’t follow the basic laws of supply and demand,” Baum said.
Topics covered include smart technology implementation, effective marketing, and referral strategies, leveraging social media, strategic planning, and cultivating a patient-centered healthcare practice. This book also delves into the non-clinical aspects of running a medical office, ensuring a comprehensive approach to practice management.
“The skills Dr. Baum articulates inare vital for the success of a physician’s career,” said Peter Angood, MD, FRCS (C), FACS, MCCM, FAAPL(Hon), president and CEO of AAPL. “Physicians today are more than clinicians; they are leaders and businesspeople who need to master a new set of skills and disciplines that modern healthcare demands.”
Baum is professor of Clinical Urology at Tulane Medical School in New Orleans, Louisiana, and is the author of, which is in its 4th edition, having sold over 175,000 copies. He has written ten books on practice management and the business of medicine.
About the American Association for Physician Leadership The American Association for Physician Leadership (AAPL) is focused on the personal transformation of all physicians, and through them the organizations they serve. With the goal of improving patient outcomes, workforce wellness, and a refinement of all healthcare delivery, AAPL has remained the only association solely focused on providing professional development, leadership education, and management training exclusively for physicians. Since its founding in 1975, AAPL has educated 250,000+ physicians across 40 countries—including CEOs, chief medical officers, and physicians at all levels of healthcare.