Doctors as Businesspeople

I saw an article flagged for me yesterday in the American Medical Association news. The title? “5 mistakes doctors make when borrowing money“. The high points:

1. Failing to shop for a banker
2. Using the wrong borrowing tool
3. Borrowing to cover operating costs
4. Not doing the math
5. Failing on financing paperwork

I am sure that all of these things are critical parts to growing and keeping a small business going. I’m sure that all of them are essential to making money and accumulating returns on investment. I’m really sure, though, that none of them have anything at all to do with improving health care and containing costs.

There are so many things that I wish physicians could do better, and so many areas where I think their training and education are deficient in light of the modern practice of medicine. It pains me to think that the subjects contained in this article, and not those deficiencies, are where we think doctors should focus their attention. There are plenty of ways for physicians to practice, in a non-government-run system, without having to worry about these things.

[Cross-posted at The Incidental Economist]