ORLANDO — Health economics and the business behind what it takes to develop a medical practice are rarely taught to medical students, residents and fellows, according to Miguel Regueiro, MD, chair of the Department of Gastroenterology, Hepatology & Nutrition at the Cleveland Clinic.
Regueiro, who is also a co-chair of Advances in IBD 2018, spoke with Healio Gastroenterology and Liver Disease about a new breakout session that was held at this year’s meeting designed specifically for fellows.
“The specific topic that I am involved with is ... how [to] build a clinical practice,” he said.
Some of the “pearls” the faculty hoped to impart on the fellows included:
- knowing the strengths of their environment;
- understanding financial implications; and,
- identifying what they would like the clinical practice to become.
Additionally, Regueiro said he looks to offer advice on something he wish he knew when he was beginning his career.
“One of the things I wish I knew earlier is some of the ideas of what are called SWOT analyses and business plans,” he said. “Put together a strength, weakness, opportunity, and threat, a true SWOT analysis, as you form your practice and a business plan in what you need to be successful.” – by Ryan McDonald
Disclosures: Regueiro reports serving as a consultant for AbbVie, Allergan, Amgen, Celgene, Janssen, Miraca Labs, Pfizer, Seres, Takeda and UCB.