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Steve Babitsky - Non-Clinical Careers for Physicians

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Steve Babitsky Non-Clinical Careers for Physicians

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Would you like a more regular schedule so you can spend more time with your family? Do you find practicing medicine repetitive? How can you recapture the career passion you once had? Would you like to finally be paid what you are worth not what the government or insurers say you will be paid? Will you make less money or more money if you leave clinical medicine? Here are just some of the questions SEAK s groundbreaking work Non-Clinical Careers for Physicians answers: What are the many traditional and non-traditional options available for physicians beyond treating patients? What precisely are employers in multiple non-clinical fields looking for? Am I too old or too young to transition? Do I need to go back to school for an MBA or other advanced degree? Which non-clinical career options and work environments would be a good fit for me? How much money can I expect to make short and long-term? Do I need to complete my training before transitioning? What are the proven strategies for positioning myself for and safely executing a transition to a non-clinical career? What will life be like in a non-clinical career? Will there be culture shock? Where are non-clinical opportunities posted online? How do I turn my CV into a stand-out resume? What talking points should I use at my interview? How can I network myself into a non-clinical position? What will my job satisfaction be like if I am not seeing patients? Can I still make a difference? Also see NonClinicalCareers.com

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Non-Clinical Careers for Physicians

Steven Babitsky, Esq.

James J. Mangraviti, Jr., Esq.

S E A K, Inc.

Excellence in Education since 1980

Falmouth, Massachusetts

Non-Clinical Careers for Physicians

Copyright 2009

ISBN: 978-1-892904-34-8

All rights reserved. Printed in the United States of America. This book is for informational purposes only. It is not intended to constitute legal advice. An attorney or other appropriate source should be consulted if necessary.

No part of this work may be reproduced in any manner whatsoever or by any electronic or mechanical means, including information on retrieval and storage systems, without permission in writing from the publisher, except by a reviewer who may quote brief passages in a review. For information send a written request for permission to SEAK, Inc., P.O. Box 729, Falmouth, MA 02541. (508) 457-1111. www.seak.com

Contents
Acknowledgments xi
Related Products by SEAK, Inc. xiii
About the Authors xv
Prologue xvii
Chapter 1 The Truth About Clinical and Non-Clinical Careers for Physicians 1
1.1 Executive Summary 1
1.2 If You Are Dissatisfied Practicing Clinical Medicine, You Are Far from Alone 1
1.3 Compensation 7
Consider Bonuses, Stock Options, and Equity 12
1.4 Succeeding in the Business World: Hard Work but Many Positions Offer Less Stress and Predictable Hours 13
1.5 What Your Parents Will Think 20
1.6 Finding the Passion and Enjoying Your Workday 22
1.7 You Can Still Make a Difference 25
1.8 Culture Shock and a New Pecking Order 27
1.9 Instability and Job Insecurity 30
1.10 Advice for Physicians Considering Leaving Clinical Practice 30
Chapter 2 How Hard Will It Be and How Long Will It Take? 33
2.1 Executive Summary 33
2.2 Should I Leave Clinical Practice? 33
2.3 Emotional Trauma 35
2.4 Family Support 36
2.5 How Long Will It Take and How Hard Will It Be? 36
How Quickly You Decide on the Career(s) You Would Like to Pursue 36
Time Committed to Career Transition 37
Flexibility to Move or Commute 37
Required Initial and Long-Term Compensation 38
Current Financial Situation 39
Leadership 39
Skills and Experience 40
Specialty 40
Clinical Experience and Certification 40
Communication Skills and Personality 41
Interests 42
Business and Leadership Experience 43
Industry Experience 43
Advanced Education 43
Time Required to Position Yourself for a Non-Clinical Career Under Your Action Plan 43
Economic and Industry Conditions 44
Networking, Resume Writing, Job Hunting, Interviewing, and Negotiating Skills 44
Chapter 3 Traditional and Non-Traditional Non-Clinical Careers for Physicians 45
3.1 Executive Summary 45
3.2 Where Am I Going? 46
3.3 Traditional Non-Clinical Careers for Physicians 46
Consulting 46
Entrepreneurship 52
Pharma, Medical Device, and Biotech (Industry) 61
Insurance 96
Government 105
Non-Profits 110
Informatics 112
Inventions 116
Administration 117
Media 121
Occupational Health 123
Medical-Legal 126
Traditional Non-Clinical Job Titles for Physicians 130
3.4 You Can Do Anything: Non-Traditional Non-Clinical Careers for Physicians 133
Sportscaster 133
Political Pundit and Commentator 133
Politician 133
Novelist 133
Teacher 134
Park Ranger 134
Financial Advisor 134
Wall Street Executive 134
Venture Capitalist 135
Patent Attorney 135
High-Tech Executive and Philanthropist 135
Forensic Handwriting Examiner 135
Professional Coach 135
3.5 Big Company or Small Company? 135
Chapter 4 Online and Traditional Networking Techniques That Work 137
4.1 Executive Summary 137
4.2 Networking Works 137
4.3 When to Network 138
4.4 Goals of Networking 138
4.5 Networking Techniques 139
Your Networking List 139
Gathering Information 140
Doing Favors for Your Network 141
The Experts Offer Excellent Advice on How to Best Network at Conferences 143
What Not to Do When Networking 145
Asking for Help 145
4.6 Six Action Steps to Getting Your Network Up and Running 146
4.7 Online Networking 147
Potential Online Networking Problems 149
4.8 Conclusion 150
Chapter 5 Where Non-Clinical Jobs Are Listed/Posted 151
5.1 Executive Summary 151
5.2 Introduction 151
5.3 Individual Companies 151
5.4 Medical Journals 152
5.5 Medical Societies 152
5.6 Generic Job Search Sites 152
5.7 Job Search/Posting Sites Specific to Medical Professionals in Non-Clinical Careers 153
5.8 Government Jobs 153
5.9 Recruiters 153
Chapter 6 Pros, Cons, and Utility of Advanced Degrees Such as an MBA, MMM, MHA, or MPH 155
6.1 Executive Summary 155
6.2 Career Value of an Advanced Degree 156
6.3 Where and How to Pursue an Advanced Degree 160
6.4 More on the MBA Degree in Particular 163
Age 163
Non-Clinical Position Sought 163
Time, Money, and Effort 163
Leaving Options Open 164
Empirical Research 164
Advantages and Disadvantages of Getting an MBA 165
Types of Physicians Employed in Non-Clinical Positions Who Have Obtained MBAs 171
How Physicians Use Their MBAs in Their Non-Clinical Positions 171
6.5 Conclusion 172
Chapter 7 Drafting a Powerful Non-Clinical Resume 173
7.1 Executive Summary 173
7.2 A CV Is Not a Resume 173
7.3 Drafting Your Non-Clinical Resume 174
Start from Scratch 174
Sales or Marketing Document 174
7.4 Formatting Your Resume 176
Contact Information 176
Summary/Profile 177
Experience 179
Education 182
Additional Information 183
7.5 Branding Yourself Through Your Resume 183
7.6 Conclusion 185
Chapter 8 Selling Yourself and Excelling at Your Interview 187
8.1 Executive Summary 187
8.2 Using the Interview to Allay the Fears of Your Potential Employer 187
Positive Attitude 188
Attributes for Success Employers Look For 189
8.3 Interviewing Techniques 191
Preparation 192
Interviewer Will Research You 194
Tap the Interviewers X Factor 195
Nailing Your Interview 196
Articulating Key Competencies 196
8.4 Interview Questions 202
8.5 Asking Questions at Your Interview 212
Examples of Questions to Ask at an Interview 212
8.6 Concluding the Interview and Sending a Thank You Note 212
8.7 Conclusion 213
Chapter 9 Transition Strategies and Tactics That Work 215
9.1 Executive Summary 215
9.2 The First Step: Figure Out What You Want to Do 215
9.3 Persistence and Time Commitment 216
9.4 Read The Wall Street Journal and Appropriate Trade Journals 217
9.5 Get Out Before Your Training Is Complete 217
Benefits of Early Transition 219
9.6 Seize Unexpected Opportunities When They Present Themselves 221
Seize an Unexpected Opportunity 221
9.7 Dont Obsess about the Job Description 222
9.8 Easing into Work While Building Your Resume 223
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