Tag Archives: money

The Business of Medicine

Share

Should medical students learn more about the business of medicine?

Medical school definitely hasn’t made a priority of teaching about how medicine works as a business.  MDs who get involved in that side of healthcare typically learn on the job. But recent caller Ryan is interested in that topic, and wanted to hear from us about what CCOM students are learning about it.

A couple years ago, M4 Joe Nellis and some other students founded the Healthcare Management and Delivery Science Distinction Track.  One reason was that their families had questions they couldn’t answer about the topic.  They also knew that decisions about healthcare delivery and outcomes evaluation were being made without MDs having a clear idea (or even input on) how and why.  Joe and M2s Philip Huang and Amanda Manarot got together with Dave to talk about what they’ve learning on issues like teamwork, e-health, data and decision-making. And while the healthcare leaders of tomorrow still have to learn much of the biz after they leave medical school, having a fuller grasp of the forces that affect how medicine is practiced is key, especially as the private practice of medicine gives way to employment in hospitals and other organizations.

This Week in Medical News

Dave took issue with this article which posits that doctors’ salaries are a problem for healthcare costs, despite the fact that according to the author’s own figures, that amount makes up about 1/32 of the cost of healthcare per US household.

We Want to Hear From You

Do you want to learn about this stuff?  Or are you content to worry only about taking care of patients? Tell us at 347-SHORTCT anytime, visit our Facebook group, or email theshortcoats@gmail.com.

Continue reading The Business of Medicine

What penniless med students should know about money with Joe Saul-Sehy

Share

Guest quote rightDo you, dear students, have tons of money? No? Weird. Luckily, Joe Saul-Sehy of the Stacking Benjamins podcast joins us on the show this week.  Joe was a financial advisor for many years, he was known as the Money Man on WXYZ-TV in Detroit, and he’s a financial contributor in a bunch of places around the print and web news media. He and his wife Cheryl, a pediatrician, have gone through all the stages that pre-meds and med students go through. So we asked him to join us to talk about the strategies they employed to claw their way back from med school debt, educating yourself about how money works, having fun with  managing your money, and why it’s particularly important for doctors to understand money.  Joe’s got plenty of information, resources and ‘fintech’ apps to recommend for succeeding in this area that many people (never mind med students) have not adequately explored.

Continue reading What penniless med students should know about money with Joe Saul-Sehy

Episode 008: Off the Hook On the Cheap

Share

–>

Medical school is expensive, as everyone knows. The Association of American Medical Colleges tells us that annual tuition and fees at state medical schools in 2010-2011 averaged $25,000 for in-state residents and $48,000 for non-residents. Out of state residents at private medical schools paid even more, and these figures don’t include living expenses and housing.

Fortunately, there are lots of sources of financial aid available; but it’s important to take care with your discretionary spending while you’re in medical school so that you don’t graduate with unmanageable debt. Which brings up the question: how can you have live your life and have fun while you’re in medical school? In this episode of The Short Coat, financial aid counselor Penny Rembolt talks with students Molly Calabria, Priyanka Rao, Tyler Gunn, and Will Zeitler about their methods for saving money while having a good time in medical school.

Listen:  Episode 008: Off the Hook On the Cheap

The opinions expressed in this feed and podcast are not those of the University of Iowa or the Roy J. and Lucille A. Carver College of Medicine.