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Why every physician needs business skills to thrive

Pamela Buchanan, MD
Physician
April 27, 2025
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I love being a doctor. But I almost walked away from medicine entirely—not because I did not care, but because it almost killed me.

I am a neurodivergent, African-American woman who grew up poor and beat the odds to wear a white coat. But nothing in my medical training prepared me for the business of medicine. In fact, I would argue the system was designed to keep me from learning it.

We are taught to serve, sacrifice, and stay grateful. We work 60, 80, sometimes 100 hours a week. We “do it for the greater good,” even as our bodies break down and our joy disappears.

But here is the truth no one told us in medical school: Purpose does not require poverty. And service does not require suffering.

We are highly educated. We have been trained to learn fast, handle pressure, and solve complex problems. There is no reason—none—why any physician should be financially struggling. And yet, far too many of us are.

Why? Because we were not taught how to think like business owners. We were not taught how to use the tools we already have—skills, knowledge, influence—to create freedom and sustainability.

I did not realize how trapped I felt until I stepped into business coaching. I became a certified Hello Seven business coach and finally learned what was kept out of my medical curriculum: How to build wealth, how to scale value, how to own my time again.

I took the Purpose Factor Assessment and my CliftonStrengths and discovered this: I want to serve through medicine, but not be enslaved by it.

So I chose to practice part-time. Now I speak at conferences, coach physicians and high-achieving women, and run workshops that combine health, wealth, and purpose. I get to choose how I use my degree—and I wish more doctors knew they could do the same.

Here is what the data says:

  • 63 percent of physicians report symptoms of burnout.
  • Nearly 1 in 4 doctors have considered leaving medicine entirely.
  • A Stanford study found that coaching reduces burnout by 17 percent and significantly improves quality of life and resilience among physicians.

We need to stop pretending the system is not broken. We need to stop celebrating self-sacrifice as a badge of honor. We need to stop watching our colleagues suffer—and sometimes die—because they believed they had no other choice.

The solution? Empower physicians to create options. Reclaim ownership. Learn business. Redefine what a meaningful medical career looks like.

Some may want to run concierge practices, cash pay or direct primary care practices. Some will want to add integrated, lifestyle, or obesity medicine to practice. Some will choose to add aesthetics. Others may pivot into tech, wellness, retreats, coaching, or consulting. Some will venture into administration, hospital management, correctional medicine, or advocacy. Some, like me, might choose part-time practice and part-time entrepreneurship. These are just a few options no one ever told me about.

There is no one right path. But there is power in knowing you have one.

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We must normalize the idea that medicine can be one of many things you do—not the only thing.

We used to own our practices. And when we did, patients were better served. We had time, autonomy, and dignity. We lost that when we handed over the reins to administrators and corporations.

It is time to take it back.

Let us build a generation of physician-entrepreneurs who understand profit, purpose, and prevention. Let us teach our students not just how to treat illness—but how to build lives that are whole.

Let us stop hiding the truth that medicine does not have to mean martyrdom.

It can mean mission, money, and mental wellness. You do not have to choose just one.

Live out loud, on purpose, and create a life your 80-year-old self would be so proud of. You are a doctor and you already know how to do hard things.

Ask yourself: What do I want? What do I want to create?

Pamela Buchanan is a board-certified physician, speaker, and thought leader dedicated to transforming health care and championing mental well-being. With more than 20 years of medical experience, she is a TEDx speaker known for her powerful talk on “Emotional Flatline,” which explores the emotional toll of high-stress professions, particularly in emergency rooms during the pandemic. As the author of The Oxygen Mask Principle and Emotional Flatline, Dr. Buchanan teaches self-care as a revolutionary act for working mothers, health care professionals, and high achievers.

In addition to her work as a physician advocate and ambassador with the Lorna Breen Foundation, her work extends to coaching and consulting, focusing on helping physicians navigate burnout and preventing burnout in medical students and residents. She strives to keep more physicians practicing. Dr. Buchanan’s mission is to help people break free from burnout, prioritize self-care, and live with purpose.

Dr. Buchanan is the founder of Strong Medicine and can be contacted for coaching, workshops, and speaking engagements. She can also be reached on TikTok and Instagram.

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  • Most Popular

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