For physicians in or considering private practice, the American Medical Association has compiled valuable CME resources addressing crucial management, financing, and regulatory aspects often overlooked in traditional medical training. While medical school focuses on clinical skills, the organizational elements of healthcare are equally vital for success.
The AMA developed the CME course 'Introduction to the Business of Medicine' to bridge this knowledge gap. This online program examines the key management, financial, and regulatory facets of healthcare delivery. Each module offers CME credits, and completing the entire course provides a substantial number of credits, along with an exclusive member certificate. These resources are accessible via the AMA Ed Hub™, an online platform integrating CME and educational content with automated credit tracking.
The course is organized into seven essential topic categories for a sustainable medical practice:
- Healthcare Organizations and Operations: Covers practice management across settings, including general management, HR, finance, IT, risk management, and marketing. It helps physicians evaluate practice environments to find the right fit.
- Physician Licensure, Credentials, and Privileges: Explains the purposes and processes, featuring insights from Baptist Health experts and highlighting the Interstate Medical License Compact.
- Medical Billing and the Revenue Cycle: Provides guidance on selecting and optimizing systems, managing claims, and addressing denials.
- Human Resources in Physician Practices: Offers information on evaluating staffing needs and effective recruitment and retention strategies, emphasizing the physician's leadership role.
- Healthcare Business and Financial Management: Covers appointment scheduling, data analysis, billing, business plan creation, strategic planning, and understanding alternative payment models.
- Quality and Risk in Healthcare: Highlights critical legal and regulatory areas like anti-kickback statutes, self-referral laws, HIPAA, and information blocking.
- Health Information Technology: Includes steps for telehealth integration and a discussion on clinical informatics, EHR integration, cybersecurity, and the role of AI in healthcare.
Succeeding in private practice requires both clinical expertise and business acumen. The resources mentioned provide the support physicians need to launch and maintain a thriving independent practice.
Source: American Medical Association | May 6, 2025