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Related Experiment Videos

Business plan writing for physicians.

Kenneth H Cohn1, Richard W Schwartz

  • 1A Practicing General Surgeon, Cambridge Management Group, MA 02138-1052, USA. Cmg725@aol.com

American Journal of Surgery
|August 10, 2002
PubMed
Summary
This summary is machine-generated.

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Physicians need business planning skills to secure resources for new healthcare initiatives. Understanding business plans helps justify investments and improve patient care delivery.

Area of Science:

  • Healthcare Management
  • Health Economics

Background:

  • Physicians increasingly require business planning skills for technology and program implementation.
  • Medical training often lacks essential business and financial management education.
  • Effective resource allocation is critical for quality patient care.

Purpose of the Study:

  • To highlight the importance of business planning for physicians.
  • To provide guidance on the rationale, process, and potential pitfalls of business plan development.
  • To emphasize the role of business plans in securing funding and achieving successful implementation.

Main Methods:

  • The abstract discusses the established format of business plans, drawing parallels to clinical consultations.
  • It emphasizes the need for physicians to understand the underlying principles and strategic value.

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  • Administrative support may assist, but physician comprehension is crucial.

    • Main Results:

    • Business plans focus, clarify, and justify resource requests, increasing success rates for funding and implementation.
    • A well-crafted business plan presents a logical narrative for future endeavors.
    • It serves as a rationale for investment, not just a funding application.

    Conclusions:

    • Business planning is essential for physicians to navigate resource allocation and implement new healthcare initiatives.
    • Developing strong business plans empowers physicians to regain leadership roles in healthcare.
    • This skill set is vital for ensuring quality patient care in resource-constrained environments.