What you'll learn:
- Understand how physicians generate revenue
- Undertand how physicians are paid for their services
- Understand how medical documentation can influence revenue and compensation
- Understand how medical documentation can influence healthcare quality
- Understand basic physican contracting
The Business of Medicine: Essential Skills for Physicians
Unlock the knowledge every physician needs to thrive beyond clinical training.
This course equips U.S. physicians—medical students, residents, fellows, and attendings—with the essential business skills needed for success in today’s healthcare environment. You’ll learn how to navigate medical billing, coding, the revenue cycle, physician contracts, documentation, and quality measures—practical tools you can apply immediately in your practice.
The course also explores the critical intersection of cost, quality, and value in healthcare delivery, helping you understand how your clinical work fits into the broader system.
Featured in a peer-reviewed article in PeerJ (August 2016), this course has been recognized for its practical and evidence-based approach.
What You’ll Learn
Physician Revenue Generation:
Understand how medical billing, coding, and the practice revenue cycle drive physician income. Learn the essentials of Relative Value Units (RVUs) and how compensation models shape your paycheck.
Physician Income Models:
Get a clear explanation of how physicians are paid, including fee-for-service, value-based models, and productivity incentives.
Medical Documentation for Compliance & Payment:
Learn how to document patient encounters to meet Medicare guidelines and improve both compensation and care quality.
Hospital Documentation to Improve Reimbursement:
Discover how improving documentation of CCs (comorbid conditions) and MCCs (major comorbid conditions) can significantly impact hospital revenue under DRG (Diagnosis-Related Group) coding.
Measuring Physician Quality:
Explore key metrics like HCAHPS and Value-Based Purchasing (VBP), and understand how they influence physician compensation and reputation.
Physician Contracts 101:
Gain critical insights into physician contracts, including non-compete clauses, compensation structures, and signing bonuses—so you can negotiate with confidence.
Who Should Take This Course?
Medical students (especially 3rd and 4th years)
Residents and fellows preparing for practice
Attending physicians aiming to maximize productivity, revenue, and value
If you want to understand not just the practice of medicine, but the business of medicine, this course is for you.
Course Prerequisites
A working knowledge of medical terminology and electronic medical records is recommended.
Disclosures
The instructor reports no conflicts of interest related to this course content.
