Business in medicine—part ignored in medical curriculum
- By: Sarah Ghufran, Ammara Mushtaq
Medicine seems to be interwoven with business. Healthcare is one of the largest industries and contributes to the gross national product of many countries. Economically, it has created many jobs for people other than health professionals, such as hospital janitors and translators.
Every step taken at a hospital has a business component. From site maintenance, patients’ insurance, drug prescriptions, and surgical facilities to the medical devices available—all require cost management. For years we have debated whether to consider medicine as a business or not. According to a pro-business model, medicine needs to be guided like a business with profit and loss statements, as well as customer satisfaction. In this model, it’s about providing facilities at affordable prices to consumers, in this case, patients. And here a physician’s and manager’s views collide as a result of different backgrounds in education and training. Who decides the right place and the right time?