The Business of Medicine

More and more, medicine is feeling the influence from the business field - and integrating it into their practices. Doctors and medical administrators alike can adapt business practices to provide better care for their patients. In an effort to highlight the positive trends of business models in the medical field, Rowan University’s Rohrer College of Business and the School of Osteopathic Medicine (RowanSOM) partnered with the Rohrer Graduate Student and Alumni Board to present “The Business of Medicine.” The discussion features trends, strategies and challenges in integrating business practices into the field of medicine.

“Healthcare is a business, so it has to run like a business,” says Sandy Gubbine, Assistant Vice President of Revenue Cycle and an Adjunct Professor at Rowan University, in discussing how non-clinical students can break into the business side of the medical field. Business practices in medicine allow for individuals to become a part of the field without needing medical knowledge or training, but rather the skills for business.

Of course, a large part of business success involves customer relationships and satisfaction. This is also true of the doctor-patient relationship and its effect on the overall patient experience with a medical practice. Dr. Joshua Coren, a professor and chair of the family medicine department at RowanSOM, says, “We have to think about [patients] as customers, that means we need their feedback. So, what’s to ensure that we’re actually soliciting satisfaction data from patients.” Business models, like a focus on feedback, can be crucial in providing the best care possible for patients.

“The Business of Medicine” is now available to watch online. Click here to check out the webinar.

To view upcoming webinars, click here.

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