The Foundation for Physician Advancement (FPA) is a nonprofit organization built by Marney Reid and a board of surgeons to provide education and experience on the business of medicine. Value-based care has created an environment where the need for continuous education on practice management, payer dynamics, and how to manage the entire continuum of care is key to thriving in healthcare. By offering insight from diverse faculty, the FPA provides practical education to help develop an efficient and successful practice.
Michael Ast, MD, FAAOS
Associate Professor, Department of Orthopaedic Surgery
Chief Medical Innovation Officer
Vice-Chair, HSS Innovation Institute
Hospital for Special Surgery
Medical education typically focuses on patient diagnosis, treatment, and [surgical] technique. This leaves a void when it comes to important concepts such as building and managing a practice, participating in the business of healthcare leadership, and advancing the goals of value-based care. The FPA allows physicians to teach the next generation of healthcare leaders to be not only great doctors but also active voices for their patients, their practice and the larger healthcare system.
Neil Badlani, MD, MBA
Director of Spine Surgery, The Orthopedic Sports Clinic, Houston TX
Chair: IEP Young Spine Surgeons Conference
Physicians should be the primary leaders in the healthcare field. It’s better for our patients when we are in control which is why I’m passionate about helping my colleagues learn from my own successes and failures in the economics and entrepreneurship of medicine. Our goal is to provide educational tools to physicians to maintain autonomy, maximize our financial value, and formulate a strategy to best control our own careers and the future of healthcare.
Michael P. Bolognesi, MD, FAAOS
Professor, Department of Orthopaedic Surgery
Chief: Division of Adult Reconstruction
Fellowship Director: Total Joint
Duke University Medical Center
There are education gaps in surgical training that occur at the residency and the Fellowship level, such as teaching people how to build and run a successful practice. Since academic faculty have so much to cover from a clinical standpoint, the business side gets left behind. Those gaps are what this Foundation was created to address in the form of courses, mentoring and other educational platforms as the Foundations grows.
Antonia Chen, MD, MBA, FAOA, FAAOS
Associate Professor, Harvard Medical School
Director of Research: Arthroplasty Services,
Brigham and Women’s Hospital
We spent our entire residency learning about the fundamentals of Orthopaedics to take the Orthopaedic In Training Exam (OITE) and boards. Yet, we weren’t taught the business aspect of medicine during residency, which is such a vital part of finding a job and starting a practice. I’m passionate about this Foundation because It’s important to learn these aspects of early on to make the best informed choices about choosing a job and building a good practice.
Brian Culp, MD, FAAOS
Clinical Associate of Orthopaedic Surgery,
Penn Medicine – Princeton Hospital
Adult Reconstruction Division,
Princeton Orthopaedic Associates
Chief Operations Officer, FPA
As a surgeon in private practice, running a business is as much a part of my career as the clinical aspects I’ve spent years learning. Unfortunately, there is limited opportunity for aspiring surgeons to learn about these critical concepts of business in medicine. This program is a way to share that teaching with young surgeons. It’s our way of paying it forward to the next generation so that they can flourish in their lives and practices.
Ryan Nunley, MD, FAAOS
Associate Professor, Department of Orthopaedic Surgery
Chief Financial Officer, FPA
Fee for service is an easy concept for physicians to understand, you do good work, and you bill for your services. Over the last decade we started seeing a shift towards value-based care and it’s put our industry into a tailspin. We’re in a new era of healthcare and the fact is, if you don’t take control and educate yourself on the business side of your practice, value-based care will eat you alive. We started this Foundation to share what we’ve done to adjust our practices and better prepare our future peers so you can take a driver’s seat instead of being swept away in the tide.
Vice President of Medical Education & Surgeon Relations
North & Latin Americas
Joints, Sports, Trauma, Extremities
Educating residents and fellows has been a passion of mine for over a decade. When I started in the industry, as a surgical device sales representative, I got to spend time with surgeons in training and was shocked at how little they were taught about business. Being able to take my business acumen, and apply it to help those that serve their patients is one of the most gratifying experiences of my career!
Neil Sheth, MD, FACS, FAOA, FAAOS
Associate Professor of Orthopaedic Surgery
Chief of Orthopaedic Surgery, Pennsylvania Hospital
University of Pennsylvania
The business side of medicine is never the focus during residency training when you are learning the language of Orthopaedic surgery. But very quickly, the business side becomes one of the most important priorities. This is my opportunity to help the next generation to be prepared as they enter Orthopaedic practice.
Kate Lee Smith
Senior Director, Strategy and Business Development, FPA
Founder and CEO, Motion Innovative Consulting
Over the past nine years, I’ve partnered with physicians to solve intricate business challenges related to launching and managing successful ASCs. My tie to healthcare is also personal as I have supported my sister’s journey through both medical school and residency. Our conversations revealed that a large gap in the aspect of managing a practice and the more business side of medicine is currently lacking in physician training. Joining FPA allows me to utilize my experience to empower the next generation of healthcare leaders. Together, we can create a transformative educational environment that integrates medical and business knowledge.
Bryan Springer, MD
OrthoCarolina Hip and Knee Center
Professor Dept of Orthopedic Surgery
Atrium Musculoskeletal Institute
Chief Innovation Officer, FPA
There remains a significant void in an important aspect of our medical education and the Foundation For Physician Advancement was designed and developed to fill that void. We as physicians are solely focused on the care of our patients, but oftentimes fail to realize how building a comprehensive successful practice and creating a better understanding of the business of medicine and value-based care will enhance and better be able to take care of our patients along the entire spectrum of care.
Richard S. Yoon, MD, FAAOS, FIOTA
Director, Orthopaedic Research
Division of Orthopaedic Trauma and Adult Reconstruction
Department of Orthopaedic Surgery
Jersey City Medical Center
For most Orthopaedic programs (or residencies in general), this aspect of education is absent and remains a huge need for such a vital part of a trainees’ careers. I was lucky enough to have a mentor who taught me the business side of medicine, and I got involved to pay it forward.