I’ve had an entrepreneurial spirit in my heart for at least a decade, ever since I first realized it. I’m a physician, and over the years, I’ve worked a variety of different jobs. I was an assistant to a physician, a nurse, and finally, a physician’s assistant. I decided to pursue medical school when I was 21 and finished all three.
Ive always believed that entrepreneurs should be physicians, and for good reason. The best entrepreneurs are the ones who are constantly searching for ways to make their businesses bigger and better, and that includes things like working in the hospital.
In my research into physician entrepreneurship, I was surprised to find that many people don’t see a very clear association between physician-entrepreneurship and the practice of medicine. I guess this is because there are different types of physicians, and we all have different personalities, so it makes sense that we are working in different ways.
This is a question we get asked quite a bit, and I’m sure this is one of the reasons it’s so common to see physician-entrepreneurs as a subset of physician-in-residence. In fact, physician-entrepreneurs are the type of “entrepreneur” we tend to hear about the most. You see them all over the place trying to turn their businesses into something more than just a medicine practice.
For physician-entrepreneurs, the practice isn’t just a business, it’s a way of life. In order to be successful as a physician-entrepreneur you need to have a very keen understanding of the medical field, and a willingness to take on risks, both big and small. This means developing a certain level of skepticism towards the medical system and the doctors themselves.
While I’m going to let you come to your own conclusion, it’s clear that many physician-entrepreneurs are in some sort of constant state of financial emergency.
If you have the financial resources and the entrepreneurial spirit, you can build your own practice and make a decent living off patients. But there are other, more practical ways of doing it as well.
The physician-entrepreneur is a fairly new concept and has been around for quite some time but is still relatively unknown. The idea is not new because in the 18th century, an English poet wrote a poem about a doctor who sold his services to a wealthy man for a very high price. I wrote about this in my book.
In the late 1800’s, the medical profession was in disarray, with over 50% of doctors having either left the profession or leaving the country. So the idea of selling medicine to the wealthy started to gain popularity. The medical market was very competitive and in any given year, a certain percentage of doctors were earning a good amount from the practice. The medical practitioner saw a potential to earn a lot of money and his entrepreneurial spirit started to flourish.
At this time, a few physicians began to look at starting their own medical practices and this was a very big step forward for them. A man named William James started a medical practice in Florida called James’ Hospital. In a very short time, James’ Hospital became the largest medical practice in the world with over 100 doctors. It was also very successful, so soon it became the first hospital in the United States to offer free surgery to the poor.