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LETTER TO THE EDITOR  
Year : 2011  |  Volume : 21  |  Issue : 2  |  Page : 159-160
The entrepreneur radiologist


Department of Radiology, B Y L Nair Charitable Hospital and T N Medical College, Mumbai Central, Mumbai-400 008, Maharashtra, India

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Date of Web Publication23-Jun-2011
 

How to cite this article:
Jakhere SG. The entrepreneur radiologist. Indian J Radiol Imaging 2011;21:159-60

How to cite this URL:
Jakhere SG. The entrepreneur radiologist. Indian J Radiol Imaging [serial online] 2011 [cited 2019 Nov 14];21:159-60. Available from: http://www.ijri.org/text.asp?2011/21/2/159/82293
Dear Sir,

Your article "The business of radiology" [1] in the Oct−Dec issue of IJRI has indeed stirred a hornets' nest with different opinions pouring in from all over India. I waited anxiously for three months to read the responses to the article [2],[3] that were published in the January issue of IJRI. Interestingly, both the authors have concurred with the opinions expressed in your original article. Few radiologists have contradictory opinions and have expressed their views on various radiology-related websites on the internet. [4]

The practice of Radiology is a business opportunity like any other business that Mr XYZ decides to embark upon. The growth of the business and the monetary returns depends not only on the business structure but also on the individual aptitudes of the person who sets up the business. There are more than 100 MBA's passing out from various IIMs and other financial institutions all over India and not all of them get the multimillionaire salaries from multinational companies. You have rightly stated in your next article [5] that times have changed drastically since the "golden" years of practice and the nuances of today's practice of radiology are not everybody's cup of tea. Today's radiology practice involves not only good radiological skills but intricate financial and human resource management qualities that no one is born with but have to be developed over a period of time and require a Herculean effort. The question is: How many radiologists are willing to take that effort?

Today, radiologists are faced with the ever-growing problem of "erosion of turf." Gynecologists are performing USG, neurologists are reading MRI and cardiologists are engaged in doing vascular interventional procedures. Non-radiologists are setting up their own imaging centers and hiring radiologists' to work for them. This situation has spread its tentacles far and wide and has become a global phenomenon to the extent that non-radiologists are earning more than radiologists. [6] There is an urgent need for entrepreneur radiologists to set up financially viable radiology practices and run them successfully.

Entrepreneurship has always been an uphill task but never an impossible one if done with the right attitude and ethical values. The average good medical college teaches the students the science of radiology but no one teaches students how to handle a business and set up a good and ethical private practice. This requires professional training, which a student can get, if he desires, by acquiring additional qualifications in Hospital Administration or Human Resource Management. I know that this would definitely add to the 11 long years of training that an average medical student spends in getting an MD degree but considering the fact that if one has to set up a successful business of radiology and be in that higher 20 % earning bracket, I feel this time would be well worth it. Nonetheless, the option of learning on the job by setting up your own centre and then learning as the business expands is also open, although one might make a few mistakes in the process. But remember as the famous writer John Luther said "It is better to learn from the mistakes of others-you can never live long enough to make them all yourself."

I would recommend an excellent book for beginners by David M. Yousem and Norman J. Beauchamp titled "Radiology Business Practice: How to Succeed." This book has received excellent reviews by leading radiology journals AJR, [7] AJNR [8] and Radiology. [9]

 
   References Top

1.Jankharia B. The business of radiology. Indian J Radiol Imaging 2010;20:239.   Back to cited text no. 1
[PUBMED]  Medknow Journal  
2.Bandopadhyaya I. Millionaire radiology. Indian J Radiol Imaging 2011;21:70-1.   Back to cited text no. 2
[PUBMED]  Medknow Journal  
3.Sripathi S. Business of radiology/radiologist in business. Indian J Radiol Imaging 2011;21:71-2.   Back to cited text no. 3
[PUBMED]  Medknow Journal  
4.Mishra SN. Radiology as business. Available from: http://www.iradix.in/General-Discussion/5220-Radiology-as-Business.html. [Last cited on 2011 Jan 28].  Back to cited text no. 4
    
5.Jankharia B. A brave new, but frightening world. Indian J Radiol Imaging 2011;21:1-2.  Back to cited text no. 5
[PUBMED]  Medknow Journal  
6.Levin DC, Rao VM, Parker L, Frangos AJ, Sunshine JH. Medicare payments for noninvasive diagnostic imaging are now higher to nonradiologist physicians than to radiologists. J Am Coll Radiol 2011;8:26-32.  Back to cited text no. 6
[PUBMED]  [FULLTEXT]  
7.Radiology Business Practice: How to Succeed. AJR Am J Roentgenol 2009;193:W351.   Back to cited text no. 7
    
8.Radiology Business Practice: How to Succeed. Am J Neuroradiol 2008;29:e90.   Back to cited text no. 8
    
9.Radiology Business Practice: How to Succeed. Radiology 2010:254;678-9.  Back to cited text no. 9
    

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Correspondence Address:
Sandeep Gopal Jakhere
Department of Radiology, B Y L Nair Charitable Hospital and T N Medical College, Mumbai Central, Mumbai-400 008, Maharashtra
India
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Source of Support: None, Conflict of Interest: None


DOI: 10.4103/0971-3026.82293

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