In the Business-Minded Surgeon blog, John "Jay" Crawford, MD, discusses how orthopedic surgeons can navigate a health care environment where clinical skill alone may carry a diminishing financial return. Topics include how to increase one’s understanding of consumer value and how to rigorously maximize return based on business strategy. 

 

BLOG: Big data reminds me of a funny story

May 10, 2017

On my first day as a “cow” (or junior) at United States Military Academy at West Point, I learned a lesson that has stayed with me my entire life and…

BLOG: If you have the Medicare blues, read this before doing anything rash

April 12, 2017

I remember repeatedly memorizing the Krebs cycle in both college and medical school, and hating it intensely. I did not know much, but I knew I was not interested in any…

BLOG: Orthopedic business language: The derivation of kappa, part 2

March 22, 2017

In last month’s blog, we defined the equation: Opportunity = Delivery + Neglect, where “opportunity” is the total daily orthopedic value created in our…

BLOG: Orthopedic business language: The derivation of kappa, part 1

February 21, 2017

In our education and training as orthopedic surgeons, we spent years learning a vitally important technical language, without which we could not exchange ideas and…

BLOG: The value of anticipation

January 13, 2017

Have you tried the experiment in which a person drops a dollar bill and you attempt to catch it? If so, you know how frustrating this can be. The time required for the…

BLOG: How applying a wartime theory could help your practice

December 14, 2016

In previous blog posts, I have argued that future practice viability depends, to some extent, on the utilization of an appointment mechanism more thoughtful than…

BLOG: Securitization of health care contracts might be costing your practice needed revenue

November 14, 2016

Most orthopedic surgeons invest funds in multiple financial instruments as part of retirement portfolios. As our advisors often say, diversification of individual…

BLOG: When scheduling encounters, consider against payers that deliver low value

October 17, 2016

In my last Business-Minded Surgeon blog, I argued that surgeon time is a scarce resource that should be prospectively allocated or appointed based on predicted revenue…

BLOG: Society measures the value a surgeon provides in dollars — and you should, too

September 30, 2016

Why does it irritate joint replacement surgeons when they see a 45-year-old patient in clinic whose chief complaint is 3 days of achy knee pain? It is because they know…

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