What Business Competencies Are Needed for the Modern Physician Leader and When

Abstract

Changes in payment models, policy, and the need for interprofessional practice require physicians who have complementary skills outside of medicine, such as business skills. To identify comfort-level and use of business competencies and to identify the ideal timing for a business curriculum, a web-based survey of clinical faculty with both medical and business degrees at a single academic institution was conducted in May 2020. Overall, respondents were comfortable applying competencies related to Communication, Leadership, Strategy/Management, and Business of Healthcare/Medicine. Fewer respondents were comfortable with Information Systems, Law and Regulatory Environment, and Accounting. Most respondents said Communication and Leadership competencies should be taught during or before medical school, and Human Resources should be taught during residency/fellowship or clinical practice. Half said Law and Regulatory Environment should be taught during residency/fellowship or clinical practice. Accounting was the only topic rated unnecessary for physicians.