Background:
Physicians entering the world of clinical practice, regardless of their specialty or employment situation, must have a basic understanding of the business of health care in order to remain viable as providers. An introduction to specific skills such as leadership, financial management, health care data analytics and modeling are not included in most medical curricula. Understanding the principles that support making good business decisions is increasingly more important to medical learners.
Objectives:
The University of Louisville School of Medicine strives to instruct medical learners across the continuum in the fundamental principles of the business of medicine and leadership necessary to succeed as physicians, physician executives, administrators, and academicians.
Methods:
Undergraduate students may apply for a Distinction Track in Business and Leadership that, over three years, provides mentorship, didactics, online learning, group projects, and a capstone project. All business distinction track students are enrolled in a mandatory 12-module online course and attend regular didactics and panel discussions. An online leadership curriculum based on Ted Talks™ and a reading list allows asynchronous learning of important business concepts while allowing scheduling flexibility for students. Faculty also benefit as they prepare to teach business content.
Results/Outcomes/Improvements:
Although long-term quantitative data are not yet available, qualitative outcomes such as learner interest and participation, faculty and administrative support, and professional community support have been outstanding. U of L has partnered with Humana, established a new healthcare think tank (The Center for Health Process Innovation), and several multi-center financial research projects resulting in several national platform presentations. Louisville Lectures™ hosts our online leadership curriculum and we utilize the online course, BeyondtheExamRoom.com™, to supplement education specializing in healthcare economics and management.
Significance/ Implications/Relevance:
U of L’s model for business education for health care providers provides a replicable model for other institutions to consider. Understanding terms, principles, and best practice in business is necessary for medical learners to be successful in the changing medical landscape and to make good stewards of our collective resources.
