Taxes, staffing, personal finances, long-term business planning. Physician practices face no shortage of economic and logistical challenges outside the exam room. To help members navigate those problems with practical, tangible advice, the Texas Medical Association is once again hosting its Business of Medicine Conference, Oct. 10-12 in San Antonio.
In another move to mitigate financial and business struggles, the conference will be the first of TMA’s seasonal gatherings to take place outside of the Austin metro area. This year’s event is designed to reach more members by setting up in a more affordable travel destination: the San Antonio River Walk.
The conference will open with remarks by American Medical Association Board of Trustees Chair Michael Suk, MD, on the changing face of physician practices. His talk will be followed by a robust panel delving into how physicians can keep up with business responsibilities, including business structures, taxation, and employee benefits, as well as hot topics like practice valuation and succession planning.
TMA is in a unique position to offer robust programming on such topics, says Marte Martinez, MD, an interventional pain medicine physician in Laredo and member of TMA’s Council on Member Experience. Up to eight hours of CME will be available at Business of Medicine Conference.
“When you go to a conference, you’re expecting CME, [typically] medical CME, and most specialty organizations will give specialty-specific CME. What TMA is trying to do is address things that aren’t normally seen in those specialty organizations,” he said. “We’re trying to give physicians something they didn’t have before, and most of us are not taught the business of medicine.”
Concurrent CME sessions through the weekend will also cover day-to-day tasks, such as business communication and advertising, as well as updates on artificial intelligence and a look into direct care models with new Committee on Independent Physician Practice Co-Chair Amy Townsend, MD.To make best use of the education, physicians are welcome to bring practice staff and managers as guests at a discounted rate of $125. Attendance is free for TMA members who register before Oct. 4; those registering on-site will be subject to a $25 fee.
In a new move staff say is a direct response to member requests, the conference will also provide programming on personal money management. While not eligible for CME credit, a morning panel discussion on Saturday, Oct. 12 will walk members through debt management, financial planning, and investments, with different panels addressing different career stages.
With the health care industry experiencing rapid and unpredictable changes, Dr. Martinez says financial preparedness is crucial.
“None of us, or very few of us, are taught how to properly finance and plan for our future,” he said. “It’s important for TMA to take the initiative to teach physicians how to handle their finances so whether the market goes up or goes down, they always have savings and something to look forward to when they retire.”
TMA staff also recognize that one way to keep practices strong is through the hard work of organized medicine. Friday’s concurrent CME session will include an introduction to TMA’s parliamentary process and a mock House of Delegates session led by House Speaker Brad Holland, MD, a talk previously popular with attendees at Leadership Summit in January. On Saturday, the Women Physicians Section will host a panel discussion on increasing engagement from young physicians.
TMA Chief Lobbyist Clayton Stewart will close the conference with a legislative update to prepare members for the advocacy fight ahead in 2025.
As more physicians arrive earlier for the wide range of educational opportunities, staff have arranged for a “Guac with a Doc” social Thursday, Oct. 10, 4-6 pm, to kick off the conference with a guacamole-making class with a Marriott Rivercenter chef. Physicians can build their business connections with a Friday evening networking happy hour in the exhibit hall, followed by a mixer hosted by TMA sections with musical bingo, snacks, and drinks, sponsored by TMA Insurance Trust.
Register now to reserve your seat. Early registration closes Friday, Oct. 4, and will resume on site at the hotel on Friday, Oct. 11. Be sure to book your hotel by Wednesday, Sept. 18, to ensure a special group rate of $239 per night.
For questions about the Business of Medicine conference or for any other TMA event, please contact the TMA events team.