Non-traditional MD jobs

[radrounds]

If you are interested, we have compiled a list of non-traditional MD physician jobs (business, finance, etc) in our forums. Our site is restricted for radiologists/radiology-bound medical students but you are all invited and feel free to just look around at the postings. I also have many more that are not posted so just drop me a line and I will add you to my mailing list.

Or if you ever need something specific.

best,

Steven Chan MD MS MBA

[DrJosephKim]

If anyone is interested in hearing about other non-clinical opportunities, send me a PM. I've had some personal experience in this area, doing some consulting and also working in disease management and health education.

Plus I know many physicians who have ventured off in different directions, so I may help you get connected with some of them.

There is a national conference organized by SEAK and they have sessions on non-clinical opportunities for physicians. Take a look:

http://www.seak.com/semncc08.htm


JK
http://mdjosephkim.blogspot.com/

[DrJosephKim]

If you're a physician and you're considering a non-clinical career, you may be wondering about all the opportunities out there. I get asked about this all the time. Over the years, I've had a chance to meet different physicians working in various companies and industries and here are my observations.

The following may apply even if you're not a physician. If you're a clinician (nurse, NP, pharmacist, PA, etc.), many of these opportunities may still apply.

First, ask yourself what you enjoy. After all, if you don't enjoy clinical medicine, you don't want to end up doing something else you're not going to enjoy. Then, start networking like crazy. Leverage all the online social networking sites (like LinkedIn, Facebook, Plaxo, etc.) and get reconnected with old colleagues, classmates, and friends. Find out what people are doing. They may help you get connected to some key people. You may find some of the best opportunities this way. If you're a woman, you may want to check out MomMD (www.mommd.com).

The following list of opportunities is clearly non-exhaustive. This list is based on my personal interactions with people in these roles and as I meet more people, this list grows.

Here is my growing list of non-clinical opportunities for physicians (not in any particular order).

1. Healthcare administration - Are you a seasoned healthcare executive? Do you enjoy making administrative decisions? Then join the American College of Physician Executives (ACPE) and run a hospital or a managed care organization. If you have a strong interest in managed care, then check out the NAMCP (National Association of Managed Care Physicians). You may want to get an MBA or an MMM (masters in medical management) if you don't already have one. A valid medical license is required for most (if not all) of these positions.

2. VC, finance, market research, etc. - Got an MBA? If not, are you thinking of getting one? Some will argue that once you have an "M.D." after your name, it may not matter as much where you get your MBA. However, I would argue that your MBA is your path to networking opportunities, so where you get your MBA is critical if you want to have a solid network. Once you get your MBA, you can work for venture capital (VC) firms, dig into market research companies, or work for Wall Street. Heard of the Gerson Lehrman Group (www.glgroup.com)? No clinical experience necessary for many of these opportunities. In fact, many joint MD/MBA students have ventured directly into very successful careers this way. Also, an MBA is not necessary if you have some good business skills and understand the healthcare industry.

3. Writing and medical communications - Do you enjoy writing? Many physicians and non-physicians have very successful careers as medical writers. The field is open to people who enjoy fiction writing, publications, research, or other types of writing. You can get involved working on journal publications, developing promotional content for marketing campaigns, or developing CME programs. Join the AMWA (American Medical Writers Association) and look for opportunities. You can work from home as a freelance writer and have a very flexible schedule. Or, you can work for a publisher or another type of healthcare communications company. You can find a list of some companies by looking at the North American Association of Medical Education and Communication Companies, Inc., (NAAMECC) website. No clinical experience necessary.

4. Technology and Informatics - Want to develop or improve an electronic health record (EHR) system? Do you love informatics? Then join the CCHIT (Certification Commission for Healthcare Information Technology), the AMIA (American Medical Informatics Association), and the AHIMA (American Health Information Management Association). Clinicians use EHRs and patients (or consumers) use PHRs (Personal Health Records). There are many companies attempting to integrate the data between PHRs and EHRs. There is a national initiative to improve and standardize public health informatics, so now is a great time to enter this industry. No clinical experience necessary, but you should be familiar with ICD, CPT, and other billing codes used in this industry.

5. Disease management - Managed care organizations (MCOs) are always looking for better disease management (DM) programs for their plans. Some MCOs develop their own DM plans and others outsource them to external companies. These companies create and deliver various services to managed care organizations, including DM, wellness programs, personal health record (PHR) services, etc. Do you ever get educational pamphlets from your own health plan? Who puts them together? Who designs and develops these wellness and preventive health programs? It's not always WebMD. There are other companies that provide similar services.

6. Pharma/Biotech/Device - If you're a medical specialist, there are many opportunities to do research for these companies. If you don't enjoy research, then you can develop marketing strategies. Direct-to-consumer (DTC) advertisements have become very popular these days. See all those ads in the medical journals? Get ready for that "corporate America" lifestyle if you plan to venture into industry. You may be working even more hours and carrying a Blackberry instead of a pager, but if you climb that "corporate ladder" and play the corporate game, you may qualify for an early retirement.

7. Expert witnessing - Personal injury, medical malpractice, nursing home care, etc. There are firms that specialize in specific areas (like nursing home cases). Want more information? Take a look at www.seak.com

8. Public health - Get an MPH, join the APHA (American Public Health Association), and find a local health department. Or, join the CDC and travel the world. Develop strategies to improve population health. Some pharmaceutical companies also have public health sections and are very devoted to public health and international health (Pfizer in particular comes to mind). Bridge gaps in healthcare disparities.

9. Consulting - The world is open. Want to work for yourself or for a company? Many healthcare companies are looking for experts to help them develop, refine, and improve their products and services. It may be hard to get started unless you've already established connections. Once again, networking becomes critical.

10. Research - Academia vs. private vs. industry vs. CRO. You don't have to go into industry to do research. Look for a Contract Research Organization (CRO) in your area. Join the ACRO (Association of Clinical Research Organizations). Start with PPD (no, this is not the TB skin test).

11. Start a company - Have an innovative idea? Start a company! New companies seem to be sprouting all the time. Stay connected with people and keep your eyes open for new ideas. Get an MBA and meet people who can help you get a concept off the ground.

Not sure where to start? As I mentioned above, start building your social and professional network. Reconnect with people and ask many questions. Find people who are in various positions and ask them what they like/dislike.

Join some associations to build your network and to find companies:

ACHE: American College of Healthcare Executives
ACPE: American College of Physician Executives
ACRO: Association of Clinical Research Organizations
AHIMA: American Health Information Management Association
AMIA: American Medical Informatics Association
AMWA: American Medical Writers Association
APHA: American Public Health Association
CCHIT: Certification Commission for Healthcare Information Technology
NAMCP: National Association of Managed Care Physicians

National Association of MD/MBA Students
http://www.md-mba.org/

Thinking about getting an MBA? Take a look at some of these articles:

http://medicaleconomics.modernmedicine.com/memag/article/articleDetail.jsp?id=322635
http://www.acponline.org/clinical_information/journals_publications/acp_internist/mar03/mbas.htm
http://www.physicianleadership.com/articles/physician_MBA.htm
http://www.mommd.com/mdmba.shtml
http://www.physicianspractice.com/index/fuseaction/articles.details/articleID/378.htm


Finally, you may want to take a look at these programs:

MBA in a Day
http://www.mbainaday.com/physicians.html

SEAK - Non-clinical careers for physicians
http://www.seak.com/semncc08.htm

SEAK - MBA skills for physicians
http://www.seak.com/semncc08mbaskills.htm

[DrJosephKim]

The Physician Renaissance Network (PRN) is another nice resource for those of you considering a career change. Various non-clinical job opportunities are constantly posted on this site. Also, you can read about some physicians who have ventured off in different non-clinical directions. There are some great resource links listed on the site as well. I highly recommend it for anyone remotely interested in learning more about non-clinical opportunities and careers for doctors.

On a side note, PRN is a medical term often used in the hospital setting. It stands for "pro re nata" (Latin) and it means "as needed." Those of you who are pre-med or early medical students may find this interesting. So, your doctor may prescribe some pain medications "PRN" - meaning that the nurse will only give you some pain pills if you ask for them.

[DrJosephKim]

For those who may be interested:

I'm in the process of consolidating tips/suggestions/advice for those interested in non-clinical careers or opportunities. I've formed a dedicated blog here:

http://nonclinical.blogspot.com/

I hope you'll find some of the information useful. I'm always open to suggestions.

[gwen]

those are some of the best posts i've ever seen, mdjkim!! way to go.

[DrJosephKim]

Let me suggest a social networking site for medical students, residents, and practicing physicians who may be interested in exploring non-clinical opportunities:

http://members.prnresource.com/

You can join for FREE and network with others who may share similar interests. It's a good way to get connected and meet people who may provide guidance, advice, etc.

[tampaarearad]

I'd like to know more. Any opportunities in FL?

Originally Posted by radrounds

If you are interested, we have compiled a list of non-traditional MD physician jobs (business, finance, etc) in our forums. Our site is restricted for radiologists/radiology-bound medical students but you are all invited and feel free to just look around at the postings. I also have many more that are not posted so just drop me a line and I will add you to my mailing list.

Or if you ever need something specific.

best,

Steven Chan MD MS MBA

[DrJosephKim]

Paid blogging like Dr. Arnold Kim!

[schan]

I will start to post non-traditional jobs for MDs that are sent into my website radRounds.com as I get word of them. Let me know if this is what you want. PM me to be added to the mailing list if you wish.

Canaccord Adams
Equity Research Associate – Biotech
New York

Summary
Canaccord has approximately 1,600 employees worldwide in 32 offices, including 26 Private Client Services offices located across Canada. Canaccord Adams, the international capital markets division, has significant operations in Toronto, London, Boston, Vancouver, New York, Calgary, Montreal, San Francisco and Houston. Canaccord currently is the #1 ranking AIM NOMAD by capitalization and #1 in Canadian public offerings. We have global reach; raise capital on seven global exchanges and possess a rare breadth of coverage unparalleled by our competitors.

Equity Research Associates work in partnership with a Senior Research Analyst to develop deep expertise in an industry coverage sector. As an Associate, you will conduct fundamental research and analysis of individual companies. You will be responsible for writing, investigating, financial modeling and conducting channel-checks which will support the research franchise. The ideal candidate will be a proactive self-starter and able to thrive in a fast-paced, demanding environment. Passion for stocks/equity research and integrity are a must.

Responsibilities
• Help build and maintain coverage of the Biotech sector.
• Construction and maintenance of financial models including: earnings, valuations and industry models for the firm’s sales force and institutional clients.
• Generate detailed reports/notes on relevant investment themes and events
• Develop and maintain relationships with investor relations personnel and management of companies under coverage.
• Help generate investment ideas through industry contacts.
• Keep abreast of company filings and industry-related news flow.
• Other duties as assigned.

Qualifications and skills
• Familiarity with Biotech.
• BA/BS. MBA, MS, MD and/or PhD preferred
• Excellent quantitative and analytical skills
• Proven ability to analyze complex investment concepts, develop investment theories and communicate ideas effectively
• Strong writing skills
• Attention to detail
• Ability to multitask and manage time effectively
• Team player
• Strong PC skills - Excel (a must), Word and PowerPoint


Qualified applicants are invited to submit a resume, cover letter and your availability.

Please e-mail your application in Microsoft Word format to Adam Cutler at adam.cutler@canaccordadams.com and quote “job #23 -- Biotech” in the subject line to be considered.

We wish to thank all candidates for their interest but only those applicants selected for an interview will be contacted. No telephone calls or recruitment agencies will be accepted. Thank you for your understanding.

[schan]

Well said! great post---an MBA will not guarantee anything. Like everything, you have to prove yourself in action and nothing in life is guaranteed w/ a degree. An MBA can give you a basic foundation, momentum, and the connections but you have to do the rest.

[Discontent]

Have you or any other frequenters of this site attended any of the SEAK programs. I am considering attending the SEAK Seminar on Cape Cod in October, "Nonclinical Careers for Physicians." Any experience with this seminar or other SEAK seminars? There is also a special seminar the day before, entitled, "How to find and land high-paying nonclinical jobs." Any thoughts on this seminar would be appreciated. The cost of the main seminar is $1200 and another $500 for the special seminar. I am wondering whether these are worth the expense.

[DrJosephKim]

I have never gone, but I know several people who have. They all seem to speak positively about the experience. The networking opportunities may be valuable.

[dropout]

Originally Posted by flindophile

This job ad a good example of the reason why I caution people about combined MBA/MDs. This type of work does not require an MD and probably makes use of very little of your medical knowledge. Thus, it makes little sense to earn an MD with the objective of heading into this line of work. It may be fine for someone who has already already completed an MD and wants to leave clinical work; however, for them, the MD is a sunk cost. The situation is entirely different for someone starting out for whom an MD represents a huge (and avoidable) cost. An MD is not necessary for the vast majority of business jobs.

I categorize medical business jobs into two categories:

Big M little b: jobs that emphasize medical work and require licensure but that also involve some administrative or business activity. For these, an MD is clearly required and an MBA may be helpful.

Little m big B: jobs that emphasize business (marketing, finance, operations, consulting) in the medical, biotech, pharmaceutical, instrumentation/supplies, etc. area that are accessible to anyone with good business skills (MBA). For these jobs, some basic knowledge of the technology is helpful but an MD is certainly not required or even advantageous.

For those heading in the m-B direction, the MD is unnecessary. For those heading in the M-b direction, it is probably best to wait until completing your residency and complete an MBA if you need it. It is quite expensive to earn an MBA 'just in case'.

I agree with your assessment in principle. however sometimes these sorts of medicine-lite jobs are a necessary evil to get a foot in the door. for instance, after some years doing model building and learning the healthcare industry, a talented associate with an MD background could move to a senior position doing actual analysis and recommendations of healthcare stocks.

These kinds of jobs also provide a nice finance training and foundation for MDs to jump to other fields like hedge funds, VC, etc