Medical associations at the local, state, and national level are struggling to be relevant. For example, the American Medical Association (AMA), the nation’s largest association of physicians and medical students, has a membership of less than 220,000 people.
Read MoreAll of us are patients and all of us are Chief Financial Officers of our own humble bank accounts, cast into the shadows of the behemoth bank statements of major medical institutions. How behemoth, you say? Multi-hospital health systems and their owned physicians can generate upwards of $8 billion in annual revenue. To put that into perspective, the NFL generates an estimated $10 billion in annual revenue. That’s the NFL compared to a single health system. The Washington Redskins generate about $380 million in revenue per year (and still can’t win, but that’s an issue for another article altogether).
Read MoreDigital health technologies — those that apply information and communications technologies to improve outcomes, reduce per capita costs and improve the patient experience — continue to hit the market with breakneck speed. Investors like the space, putting $4.3 billion to work in the sector so far this year.
Read MoreMany parents and students are scratching their heads when it comes to choosing medicine as a career choice. After all, there is all the noise and naysayers, grumpy doctors, student debt averaging $170,000 a year, opportunity costs due to the time it takes to become a doctor, and all the rest.
Read MoreSome people think that certain specialties, like emergency medicine, orthopedics or ophthalmology, are more entrepreneurial than others. Of course, it depends on how you define entrepreneurship: number of patents, value of spin out companies created, valuations or funding raised?
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