Learning the business side of medicine
- Familiarity with the healthcare system of the United States
- Understanding of medical terminology
- Understanding medical records
- Understanding of how health care insurance billing works
The Business of Medicine covers essential skills to your success as a physician in the United States after completing your medical education. Medical billing, medical coding, the medical practice revenue cycle, physician contracts, and other topics will be presented in a way you can apply to your practice today.
The challenges of Cost, Quality, and Value in healthcare are highlighted at relevant times during this course.
This course is the subject of a peer reviewed article published in PeerJ in August, 2016.
Key post-residency skills covered in the Business of Medicine:
Physician revenue generation – Medical billing, medical coding, and the medical practice revenue cycle.
Physician Income - This section discusses how physicians are paid in today’s healthcare environment. Compensation models, RVUs (Relative Value Units), and other aspects of physician compensation are covered in detail.
Medical documentation – This section covers how medical encounters should be documented so that they comply with the strict guidelines outlined by Medicare and how improved documentation is related to increased compensation and quality.
to improve DRG coding in terms of CCs (comorbid or complicating conditions) and MCCs (major comorbid or complicating conditions) is discussed. Improving documentation of CCs and MCCs is a major effort underway in hospitals throughout the United States because of how this documentation can influence hospital payments from Medicare and other insurers.
Measuring physician quality – This section discusses a few of the ways physician quality is measured like HCAPHS and the VBP. The relationship to measured quality and physician compensation is discussed as well.
Physician contracts – This section covers the basics of physician contracting and a few areas for special attention – non-compete agreements, compensation, and signing bonuses.
Who is this course designed for?
This course is designed for medical students, residents, fellows, and attending physicians. This is a great course for attending physicians who are trying to maximize their productivity and value to the healthcare system.
What do I need to know to get the most out of this course?
A good knowledge of medical terminology and medical records will be helpful. Most 3rd or 4th year medical students will be well prepared for this course.
Conflict of interest and disclosures.
The instructor of this course denies any conflict of interest or disclosures with the content material in this course.
Who this course is for:
- Medical Students
- Residents and Fellows
- This course is probably not for you if you are not a health care practitioner working in the United States of America. All the course material is focused on how the health care system works in the USA.
I am an associate professor and hospitalist at Southern Illinois University School of Medicine in Springfield, Illinois and the recipient of the general internal medicine teacher of the year award for my first year on the faculty.
In 2012, I created the first Business in Medicine course at SIU as a 4th year medical school elective. Over time, this course evolved from a face to face flipped classroom course to a MOOC hosted on Udemy with over 5,000 participants worldwide.