Recently, I was asked to give an overview of what it means to be an Administrator for a Medical Practice. The round table consisted of 8 physicians of other specialties. The common element is that they each owned their practice.⁣

They asked me to navigate and explore the following topics:⁣

? What to watch for with Insurance: A review of the “basics”⁣⁣
? What to do when Insurance says “No”⁣
? Contract Negotiations
? Coding and Billing Essentials

Halfway through the morning session, I stopped.⁣
It was an abrupt hard stop.⁣
I did not say another word.⁣
I was looking at each of the 8 faces looking back at me.⁣

I asked if I should keep going. Silence.⁣
I had this sinking feeling that I had bombed.⁣

Then, one colleague spoke up and told me that she was stunned at how much she did not know about the business of medicine.⁣
I could feel my pulse coming back.⁣
Others nodded. Some nervous laughter.⁣

The “Business of Medicine” is just as important as the practice of medicine.⁣

If you are considering going out on your own or even auditing what/where you are at: DO IT.