Medverd to Young Rads: Understand the Business Side

January 15, 2014

VIDEO - New radiologists out of training and just joining a practice should understand the business side of the industry. Jonathan R. Medverd, MD, explains.

Young radiologists just joining a practice should understand the business side of the industry, said Jonathan R. Medverd, an assistant professor in the University of Washington Department of Radiology.

“They also hired you to be a part of their business model,” he said in a recent video interview. Medverd spoke on the topic at RSNA 2013. “We have more and more pressures on performance. There’s less area for somebody to just be the guy who doesn’t have to worry about that side of the business.”

Radiologists fresh out of training should have a grasp of how they and the practice gets paid, for example. Basic financial literacy skills are a good idea, too, plus a general knowledge of the industry’s changing landscape as practices are acquired and merge.

Many radiologists aren’t prepared with that kind of knowledge, so “get help,” Medverd said. Seeking the right support and resources will go a long way to equipping you with the nonclinical knowledge you need to succeed.

Young radiologists should also have a good attitude, Merverd advises. Be that unflappable, positive force in the practice, willing to take on anything. “That kind of attitude will win you friends within and without your practice,” he said, “and it’s just a good idea.”