The physician's alternative career transition model: a stepwise approach

Physician Executive, March, 1995 by Stan Bernard, Donnical L. Moore

As a result of this era of intense focus on marketplace reform, increased governmental regulation of medical practice, the corporatization of health care, and an increasingly litigious society, some physicians are finding themselves in an unfamiliar--and often unfriendly-environment.[1,2] This has, in turn, stimulated a reassessment of career planning options for some physicians. In the past, it was not uncommon for physicians seeking alternative career options to pursue medical management. These physician executives sought to utilize their medical backgrounds in ways that were administrative extensions of traditional clinical practice.[3-7] Recent and anticipated changes in the clinical environment have made these options more appealing for some. However, these changes have also created unique opportunities beyond the traditional arenas of clinical practice and medical management for others to leverage their medical degrees and experiences in the business world. This paper will present three case reports of "physician-businesspersons" who have successfully pursued medically related business career options, each following different motivations at various stages of their medical careers.

Case Report 1

SBJ is a 33-year-old male medical school graduate who decided, after completing his third-year clinical rotations, that he was more interested in a medically related business career than in a clinical one. After passing his boards and receiving his license to practice medicine, he attended business school, earning an MBA in health care management and marketing. During this time, he also worked as a health care management consultant for tertiary cafe hospitals and large physician group practices. After receiving his MBA, he joined a large, international pharmaceutical company in its worldwide business development department. His subsequent work at this same company has included positions in medical services, medical research, medical marketing, product management, managed care, and pharmacoeconomics. He maintains an adjunct professorship at his business school alma mater.

Case Report 2

NLS is a 4 1 -year old female with board eligibility in pediatrics and board certification in otolaryngology. While serving as an attending in an academic setting and maintaining the responsibilities of a single parent, she sought career growth and diversity by performing health cafe reports for a local television station. After she honed her broadcasting skills for four years, her segments were picked up by national television networks and she pursued the opportunity to cohost a popular national morning news show. Her television reporting, writing, and producing soon became a major part of her occupation. She has now become a recognized national television celebrity, maintains an associate clinical professorship at a medical school, and continues to see patients five days per week.

Case Report 3

SBS is a 70-year-old male general surgeon, ready to retire from the rigors of a successful practice he built over 30 years. Despite being an avid club golfer, this energetic senior is not interested in complete "retirement." Throughout his career, he maintained an interest in various health care-related businesses; in preparation for his clinical retirement, he targeted his many contacts in this arena in order to identify a suitable job opportunity. After considering opportunities with several companies, he joined a health care medical information systems start-up company as its medical director. This will leverage his medical expertise and his health care contacts in both a business development and a sales capacity. He continues to maintain positions on several committees at his local medical and nursing schools.

These three physicians represent an increasing number of physician executives who have ventured beyond the realm of traditional clinical medicine and medical management to leverage their medical knowledge and clinical experience in the business world. As demonstrated by these examples, the types of physicians who gravitate toward business are diverse and make their career transitions for numerous reasons.[8,9] Some, as typified by Case Report 1, may have special interests or talents that they choose to pursue. Others, exemplified by Case Report 2, may become dissatisfied with clinical practice for one or several of a host of reasons and are actively or passively seeking an alternative. Some older physicians, as demonstrated by Case Report 3, may want to retire from the demands of clinical practice but may not yet be ready to retire from the work force altogether.

These three physicians have entered the business arena in the fields of pharmaceuticals, media, and entrepreneurial ventures. However, these are only three of the many possible fields for such physician executives. Other business areas in which interested physicians can leverage their medical backgrounds include, but are not limited to, health care consulting, medical writing /publishing, medical education, medical advertising, public relations, investment banking, venture capital, securities analysis, insurance, information technology, and managed care ventures.[8]