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Coping with entrepreneurial doctors. Here's the bottom line
Healthcare Executive
|August 7, 1989
Summary
Physicians are surprisingly successful entrepreneurs and investors, defying traditional stereotypes. They demonstrate a high survival and profitability rate in business, outperforming many other sectors.
Area of Science:
- Healthcare Management
- Medical Economics
- Entrepreneurship
Background:
- Traditional views often portray physicians as lacking business acumen.
- This perception may lead to underestimation of their entrepreneurial capabilities.
Purpose of the Study:
- To challenge the generalization of physicians as poor businessmen.
- To highlight the financial success and business viability of physician-led enterprises.
Main Methods:
- Analysis of physician business survival and profitability rates.
- Comparative study against other small business sectors.
Main Results:
- Physicians constitute the largest group of successful small businessmen.
- Physician-run businesses exhibit a survival rate exceeding 95%.
Conclusions:
- The stereotype of physicians as ineffective entrepreneurs is inaccurate.
- Physicians possess strong business and investment capabilities, ensuring high success rates.