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Career paths for cardiologists in industry: exploring opportunities in hospital management, medical device industry and biotech

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HOSPITAL MANAGEMENT Global economic challenges and heathcare policy changes call for a strong interaction between healthcare managers and clinicians. Indepth knowledge of the healthcare system and clinical processes is crucial… Click to show full abstract

HOSPITAL MANAGEMENT Global economic challenges and heathcare policy changes call for a strong interaction between healthcare managers and clinicians. Indepth knowledge of the healthcare system and clinical processes is crucial for improving medical care and hospital performance. Studies indicate that improving hospital leadership, particularly in cultural competency, positively affects the overall hospital performance. 2 Tasi et al showed that physician leadership was independently associated with higher average quality ratings, suggesting that physician leaders may possess skills or management approaches that positively affect hospital quality and care value. Although physician leadership was associated with more inpatient days in hospital, total revenue and profit margin were not impacted compared with nonphysicianled hospitals. Historically, physicians tended to solely practise medicine, leaving hospital management to others. However, the daily routine of physicians involving making (clinical) judgements and finding solutions is similar to how nonclinical managers approach their daily problems. As a first step into hospital management, some healthcare institutions offer medical director positions without formal or positional power. These roles carry responsibility for medical supervision and overall regulation of medical facets that affect the institution. To further help physicians prepare for higher management roles, various organisations have designed educational programmes, ranging from short courses to graduate programmes in health administration of 2–5 years. 6 The dual relationship between physician leaders and operational leaders is shifting from a rigid system of responsibilities to a model characterised by a distributed, situational framework of accountabilities. With healthcare institutions changing their strategy and shifting towards a valuebased approach, the patient’s journey is becoming a crucial focus. Hence, a senior clinical specialist in a strategic leadership role with profound knowledge of patients’ medical needs and of clinical processes is essential. As a trusted physician, they are well suited to interact between operational management and hospital employees, improving communication in both directions. This is particularly important in resourcelimited situations arising from economic difficulties.

Keywords: career paths; hospital management; management; industry; leadership

Journal Title: Heart
Year Published: 2023

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