Running a Practice and the Costs Associated
Activity
Active Large Group Session
Active Large Group Session
Remuneration models. OHIP vs private billing. Costs associated with working in a hospital vs a clinic. Benefits of Medical Professional Corporation.
Curriculum Block
Endocrinology / Medical Foundation 3 / Part 3 / Week 2
- Indicates most relevant
Objectives
Activity Objectives
- Identify different physician remuneration models and analyze the benefits/drawbacks of each.
- Compare OHIP based physician remuneration with private billing.
- Identify the costs associated with working in a hospital as opposed to working in a clinic.
- Summarize the potential benefits of a Medical Professional Corporation and its impact on Personal Financial Planning.
Tags
CanMEDS Roles
Leader/Manager
Manage career in planning, finances, and health human resources in a practice
Curriculum Block
Endocrinology
Medical Foundation 3
Part 3
Week 2
Curriculum Week
Part 3
Week 6
Longitudinal Discipline
Financial Literacy
McMaster Program Competencies
5.2 Demonstrate compassion, integrity, and respect for others
5.8 Balance personal values and beliefs with professional and societal ethics
6.1 Understand the systems of healthcare, including federal, provincial, municipal and local, and the influences they have on the health of individuals and populations
6.5 Work effectively in various health care delivery settings and systems relevant to a variety of clinical specialties
6.9 Perform administrative and practice management responsibilities commensurate with one’s role, abilities, and qualifications
MeSH
Financial Management [N03.219.463]
Income [N01.824.417]
Practice Management [N04.452.758.708]
Practice Management, Medical [N04.452.758.708.450]
Professional Practice [N04.452.758]
Remuneration [N01.824.417.605]
Students, Medical [M01.848.769.602]
