Taylor

Physicians are not bad at business… That’s a convenient myth. And a lazy one. The data says otherwise: - Nearly 1 in 5 physicians have founded a business. - Physician-led hospitals outperform others on quality. - Private practice docs consistently score higher on patient satisfaction. - DPC, concierge, device startups? Built by physicians. So why the narrative? It’s about control… It’s why we were never taught the business of medicine. It’s why we were discouraged from asking… Because when we start asking—we become a threat. physicians are boxed in by regulations written decades ago—designed to limit, not enable. We’re the only profession that: •Can’t own equity in many health systems •Can’t freely partner across state lines •Gets buried under Stark Law and AKS language so vague it criminalizes innovation •Is told collaboration is “kickback risk” while hospitals merge without consequence Meanwhile, lawyers run firms. Engineers build empires. MBAs scale companies. Physicians? We’re told to stay in our lane. And when we don’t—we’re labeled “bad at business.” ⸻ Here’s what needs to change: •Modernize Stark. Stop blocking aligned, ethical business models. •Clarify safe harbors under AKS for physician-led ventures. •Fix corporate practice bans that prevent doctors from co-owning with technologists or innovators. •Let physicians own and build. Hospitals, and platforms, systems. •Stop forcing doctors to choose between autonomy and survival. ⸻ We’re not bad at business. We just haven’t been allowed to compete.

In 2023, the U.S. spent approximately $1.35 trillion on healthcare administration. That’s more than we spent on: •Physician salaries (~$350B) •Nursing salaries (~$335B) •Retail prescription drugs (~$450B) •Imaging, lab tests, EHRs, and outpatient procedures combined •Even capital investment in hospitals and equipment All the while, clinicians are being told to “do more with less.” Every cost-saving initiative aimed at doctors adds layers of compliance and complexity which only fuels the unchecked growth of bureaucracy.