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    Business of urology is more than just A/R, RVUs

    How to manage your online reputation, cost transparency, are among current keys to survival

    Neil H. Baum, MDThe time has arrived for all urologists to become involved in the business side of their practice. It doesn’t matter the size or shape of the urologist, size of the practice, location of the practice, or employment status of the urologist; we all need to have an interest in the business aspects of our practices.

    Also read: How to streamline the property transfer process

    It wasn’t but a few decades ago that urologists had small patient volumes and large profit margins. The tide has changed in the new millennium, and now we see large volumes of patients with razor-thin profit margins. That, compounded by rising overhead costs, translates to an erosion of our bottom line. Therefore, it behooves us to become involved in the business of our practice.

    Many urologists believe that the economics of health care means monitoring accounts receivable, relative value units, and reducing overhead expenses. In this first installment of a two-part article, I will discuss other business aspects that are imperative to every successful urology practice.

    Be a leader

    Moving forward, we will need core competencies not taught in medical school. All of us know how to diagnosis and treat urologic conditions. But do we know how to manage other physicians and staff? Leadership requires setting the example; ie, being an on-time physician and learning the art of delegating to others. Urologists should only do what can’t be done by anyone else in the practice. All else should be delegated. A medical school education is not necessary to ask about surgical history and how many cigarettes or alcoholic drinks a patient consumes.

    NEXT: Patient/customer satisfaction

    Neil H. Baum, MD
    Neil H. Baum, MD, is a urologist in private practice in New Orleans. He is the author of "Marketing Your Clinical Practice-Ethically, ...

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