The Employed Physician: Your Essential Guide to the Business of Medicine

After completing medical school and residency, physicians are well trained to take care of patients, but have had virtually no guidance or experience with the practice of medicine within the complicated and chaotic American healthcare system. While they may know everything about diagnosing and treating their patients, young physicians often enter medical practice with little or no understanding of the complexities of the business aspects of healthcare. When they first enter practice, most physicians have no concept of how to work within and manage their medical practice, which, in most cases, is a small corporation or business. From negotiating with insurance companies to managing an office staff to working with other physicians who are now their business partners, most young physicians enter practice with little idea of what they’re getting themselves into. Jeff Gorke’s book is an excellent introduction to this complicated world. In an informal and straightforward manner, Gorke first advises young physicians on how to find a job and negotiate an employment contract. He then explains the nuts and bolts of the business of medical practice, including administrative structure and functioning, how medical care is reimbursed, and basic practice finance. The book is an excellent primer for any physician about to enter medical practice.

This book is a must read for every physician preparing to enter the complex world of private practice, regardless of the setting. Book One superbly presents every one of the major and minor decision points that should be considered before these physicians embark on their quest to find the ‘right’ practice. Clearly explained, in great detail, is the multitude of procedures to follow from the preparation of one’s CV to the process for the employment agreement, once the ‘right’ practice has been found (and all of the steps in between). Book Two, dealing with “the nuts and bolts of a private practice,” should be read by these same physicians and also by their many colleagues who, although in private practice for years, are still overwhelmed by the complexities and intricacies of the business of healthcare.

Finally, there comes a book that prepares the freshly minted physician for the business side of the healthcare equation. Mr. Gorke’s light, easy-to-digest style takes the reader, from soup to nuts, through the entire process of determining and finding the right practice setting; and then, in the same fashion, through the myriad of real-life business, governance, and management issues that every physician will face. Not only is this for physicians, it should be part of all residency programs.

Jeff has written a great instructional tool for any physician who is either new to the business of medicine and looking to relocate, or is currently in residency contemplating the interviewing phase of his or her life. Jeff has laid out a practical, logical, and systematic approach to help any physician identify, quantify, and evaluate potential new employers and future business partners. The illustrations, charts, and anecdotal information are easy to understand, shed light on traditionally difficult information, and keep the reader focused all the way through. The book should be required reading for physicians to assist them in their career search and to clarify and explain in a practical way the ‘business’ of medicine.