NEW YORK, Nov. 10, 2016 /PRNewswire/ -- Medscape is launching a comprehensive new program to equip physicians with the skills they need to better manage the business and regulatory aspects of medical practice. Medscape Physician Business Academy, created with a faculty of recognized health business experts, offers engaging, hands-on learning for employed and self-employed physicians and residents relevant to any practice setting and stage of career.
One of the Medscape Academy faculty members, Cheryl Pegus, MD, clinical professor of medicine and population health, NYU Langone Medical Center, believes that physicians need a program with a "realistic time commitment and courses that are relevant to the business aspects of medicine -- including managing revenue, reimbursement, legal issues, new payment models, and business strategy and practice management." According to Dr. Pegus, "As physicians, we understand the challenges -- and the cost -- of not providing solutions. As faculty, we designed a program for physicians along with our business colleagues that we believe can help turn the situation around and make a difference in physicians' lives."
For information on courses and faculty, visit
Comprehensive and practical, the Medscape Academy goes beyond simply providing information to instead offering solutions and strategies that physicians can implement immediately into their lives and practices, with the potential to improve office workflow, enhance patient care, and facilitate career decisions. For example, the course on EHRs, a serious physician pain point, focuses on how they can be a positive tool for patient care and practice growth rather than just an electronic record -- or a necessary evil. Similarly, the course on reimbursement can enable doctors to more effectively tackle the new requirements of the Medicare Access and CHIP Reauthorization Act (MACRA), which goes into effect in 2017.
"Physicians leave medical school, residency, and fellowship prepared to treat patients. However, with the advent of a digital practice environment, EHRs, and the combination of new and complex payment criteria and reporting requirements, physicians are unprepared for the business demands of their medical practice," said Leslie Kane, senior director of Medscape's Business of Medicine. "The mounting pressure of these bureaucratic responsibilities are daunting and frustrating, and they are prompting physicians to consider leaving medicine."
Curriculum Addresses Need for Skill, Training
Physicians acknowledge that a lack of training exacerbates the problem. A Medscape survey of 1,680 physicians found that 88%, and 87% of residents/fellows, feel unprepared and unskilled on the business aspects of medicine, and 85% said they wish they had taken courses that might have helped bridge this knowledge gap.
The Medscape Academy offers physicians the flexibility to design their own curriculum by taking the courses they need most and do so at their own pace. Each course can be completed in about 90 minutes to 2 hours and is free. Participants who complete a course and achieve a passing score on the self-assessment are issued a certificate of completion, and certain courses are eligible for continuing medical education (CME) credit. The initial courses offered through the Medscape Academy are:
1) Revenue and Reimbursement: Insurance
Working With Insurance, Medicare, Medicaid, and Self-pay
2) Reimbursement: New Payment Models
New Healthcare Delivery and Payment Systems
3) Negotiating and Getting Paid by Insurers
Deciding Which Insurers to Retain or Drop
4) Medical Practice and the Law
Legal Agreements and Forms of Organization
5) Finance: Accounting and Profitability
Fiscal Management and Budgets
6) Strategy: Running a Successful Business
How to Make Your Medical Practice Succeed
7) EHRs: Overcoming the Challenges
Working With EHRs and Reporting Data
8) Using EHRs to Improve Your Practice
Strategies to Increase Effectiveness
Medscape Physician Business Academy Faculty Composed of Recognized Leaders in the Healthcare Field
Medscape developed the practice-focused curriculum with a faculty of healthcare leaders who possess deep experience in both the business aspects of medicine as well as the latest in digital innovation, including:
- Aaron Holley, MD, internal medicine, Uniformed Services University, Walter Reed National Military Medical Center, Bethesda, MD
- Gregory Hood, MD, internal medicine, Lexington, KY
- Cheryl Pegus, MD, director, clinical innovation, NYU Langone Medical Center, NY
- Judith Aburmishan, MBA, CPA, healthcare practice management consultant, Chicago, IL
- Ron B. Sterling, MBA, EHR expert and consultant, Silver Spring, MD
At a time when reports project a shortage of up to 95,000 physicians by 2025*, the courses offered through the Medscape Academy have the potential to help doctors better manage their practices, reduce burnout, and reignite their enthusiasm for the profession.
* Association of American Medical Colleges, 2016
About Medscape and WebMD
Medscape, a subsidiary of WebMD Health Corp., is the leading source of clinical news, health information and point-of-care tools for healthcare professionals. Medscape offers specialists, primary care physicians, and other health professionals the most robust and integrated medical information and educational tools. Medscape Education (medscape.org) is the leading destination for continuous professional development, consisting of more than 30 specialty-focused destinations offering thousands of free CME and CE courses and other educational programs for physicians, nurses, and other healthcare professionals.
WebMD Health Corp. is the leading provider of health information services, serving consumers, physicians, healthcare professionals, employers, and health plans through our public and private online portals, mobile platforms, and health-focused publications.
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