Five Reasons Physicians Make Excellent Entrepreneurs

According to this Forbe’s article, medical practice revolves around two important concepts: reducing the likelihood of errors and achieving the highest probable benefit. I suspect this would be translated to mean improved practice of evidence-based medicine and profits. We know that healthcare has become more of a business and less of a healing environment. Almost a readymade environment for entrepreneurs. The article professes that physicians are well suited to be leaders in creating successful ventures. 

Society benefits significantly from entrepreneurship, not only because entrepreneurs create wealth and generate employment, but because they inspire others to push beyond the usual paradigms that shape economic status.

Entrepreneurs create wealth and generate employment. The article proports that physicians are well suited to be entrepreneurs in the health care industry. This article supports the notion of physician lead healthcare teams and physician owned health facilities. Here is a summary of what the article describes as to why good physicians make excellent entrepreneurs:

  • Physicians Commit to Profound Educational Development
    • The demanding regimen of learning and practice that characterizes medical school forges a particular type of individual who is ideally suited to succeed in the uncompromising world of business and entrepreneurship.
  • Physicians Are Detail-Oriented
    • Good doctors are meticulous, conscientious, diligent and attentive. These qualities allow them to become exceptional at asking pointed questions, detecting patterns, making connections and hypothesizing potential outcomes.
  • Physicians Are Experts at Making On-The-Spot Decisions
    • Regardless of specialization, doctors and physicians from different fields face highly variable circumstances, most of which lie outside their direct control.
  • Good Doctors Have an Ethical Responsibility
    • By applying all four principles (autonomy, justice, beneficence and nonmaleficence), doctors can guarantee that all interactions with patients are fair, just, beneficial and free of coercion and that they don’t cause needless harm. Doctors who manage to behave ethically are the best in their field.
  • Physicians are Relentless
    • Often, the diagnostic process is challenging, tedious and taxing. Correctly identifying a condition may require a plethora of tests, consultations, conversations and treatment plans. A good doctor will be relentless when it comes to the well-being of their patients and will keep trying until something works.

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Robert Duprey MD

Robert P. Duprey Jr studied medicine as a 2nd career medical student who went to medical school in his 40’s after honorable discharge and ‘retirement’ from 25 years in the US Military (USCG & US Army). He was a registered nurse (RN) with specialty training as a psychiatric RN in the US Army for 15 years. During this time he also became a Master’s level psychotherapist in 2002. While on US Army active duty he also became a Psychiatric Nurse Practitioner while working full time in 2011. He served as a Psych NP on active duty, to include a combat tour in Iraq, until his ‘retirement’ in 2014 and moved to Philippines with his 3 children. At this time he started medical school overseas at Oceania University of Medicine based out of Samoa accredited by Philippine Accrediting Association of Schools, Colleges and Universities (PAASCU). He continued to work as a Psych NP throughout medical school to support his children and to not have to take out loans for medical school tuition. Originally from Rhode Island, he completed medical school clerkship rotations throughout the USA with a graduation in May 2019 earning the esteemed credential of MD. He has successfully completed USMLE Steps 1, 2CS, and 2CK. He will take Step 3 this September as he applies for Psychiatry Residency. Having been and RN, NP and now MD, he is a believer of Physician led multidisciplinary healthcare teams 

  1 comment for “Five Reasons Physicians Make Excellent Entrepreneurs

  1. Bridget Reidy
    January 14, 2020 at 4:06 pm

    One reason why we don’t: third party payers punishing us monetarily if we do (facility fees, Stark laws allowing bosses to benefit from our orders but never us, data reporting requirements requiring vast numbers of patients to be cost effective to track…)

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