Boss Lady

You don’t need an MD to start a health business


There’s no limit to the areas in which a business can exist — from tutoring to fast food or furniture — if you’ve got an idea, you can sell it. The business of medicine is about as overlooked as the business behind education. People are put off by both because you seem to need masses of experience to get started in either area. The evidence at eye-level adds credence to that as well, with most private medical facilities being run by doctors and physicians rather than me or you!

Business support

You don’t need a MD to run a medical business. Even if you are not a doctor or nurse, you’ve got plenty of choices when it comes to running a business in the medical field. Some science and business will help you out a great deal, though. For example, would you buy medicine from a pharmacy if they couldn’t prove expertise in the field at founder level? Educate yourself appropriately for the area you want to run a business in.

Accounting support

A medical claims business relies on a strong foundation in business, as does the running of a doctor’s practice. A medical practice still requires the business side of it to run. A doctor might be able to put a patient back together, but finances require an altogether different type of experience and no matter the skills of a doctor, the practice could fall apart if it is not run correctly.

Legislative support

A deft hand is needed in the running of a practice. The legality behind the medical world is always transforming thanks to the metamorphosis of healthcare legislation, and of course, there are insurance companies and claims businesses always on the case. It certainly is challenging, and we haven’t yet mentioned the patients.

Insurance and payments support

It’s also a hassle to get paid as well — as you’ll likely be the one chasing insurance companies for the money! If a patient is treated and walks out the doors of the practice without payment, you might find it difficult to actually ever see that money.

Of course, the responding paramedics can’t fill out a direct debit mandate with an unconscious person on the road. The role of insurance is important in healthcare, and you’ll find yourself dealing with insurers a lot if you want to get paid in the business of health. Of course, you might be the one running the other business and collecting cash on behalf of doctors running practices. Doctors have trained with medicine, but not with money; so dive right in to fill a big gap in the market.

Equipment support

Learn about laser systems and their benefits to get into the manufacturing of medical equipment to save costs and cut off the competition — and it’s never been easier thanks to precise laser drillers that are cheap and fast manufacturing partners, says BFW Inc. Making medical equipment and selling it on is just another way to get involved in the business of medicine.

Healing people isn’t the only way to get paid in the business of health. Look to see where you skills and qualifications could take you.

About Business Woman Media

Our women don’t want to settle for anything but the best. They understand that success is a journey involving personal growth, savvy optimism and the tenacity to be the best. We believe in pragmatism, having fun, hard-work and sharing inspiration. LinkedIn

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