and grandkids who had moved to the Treasure Coast of south Florida , and after two years with CareSource , my wife and I made plans to relocate near them . I took a role as a partner in an office-based cardiology practice in Stuart , Florida . While planning the move , I lived in a beautiful condo on a barrier island and could hear the surf from my bedroom window . My wife had decided to remain in Louisville for a few months in preparation to assist her mother in making the move with us . However , unfortunately , her mother ’ s idiopathic pulmonary fibrosis continued relentlessly , and I was forced to abandon my new job after just a few months and return home . It was at this time that the role of Chief Medical Officer with the Aetna Medicaid plan ( based again in Louisville ) was open , and I was offered this position . With this came the responsibilities of managing a team of five medical directors and having financial responsibilities for the medical side of the plan . This was a challenging , fascinating , and at times head-scratching role . There were many moving parts , at times unattainable goals , pressures from above and below , plus the unexpectedly difficult duty of managing a team of high performing , but at times challenging physician personalities . I would do it all over again .
Two years into that job , both of our mothers had passed , and we still had sights set on moving to Florida . I decided to announce my formal retirement from Aetna , and we began construction of our new place in south Florida , this time on the Gulf side . I had completed a fulfilling cardiology and business career and flat bike trails and pickleball were still a magnet . I thought now I had really put my stethoscope and Outlook programs away , however about one month into retirement , a colleague notified me of a position with CVS and its pharmacy benefit manager ( PBM ) where I could do my job from anywhere and utilize my experiences as a medical director and draw upon my initial career as a clinical pharmacist . This came about just when the COVID-19 pandemic was deepening , so taking on a work-from-home job seemed to be a natural and easy step . My current role is to perform outreach to physician practices to assist in formulary management for specialty and high-cost drugs . It is quite fulfilling and challenging . Plus , I can do this job from the beach , which I plan to do starting within the month as we will be making our permanent move to Sarasota .
Here are a few recommendations I have for anyone who may want to consider the corporate medical world , specifically working for a large insurer or PBM . First , understand that these jobs are not for physicians who are looking to retire . This was the mindset just a few years ago , but no more . Although I had retired , my situation was quite unusual as the company had need for an experienced medical director with knowledge of many of the tools I had mastered in my prior jobs . Recruiters and hiring managers will usually be looking for someone who has a plan to stay with the firm for several years since the training can be costly .
Second , you must have already become an excellent clinician in your chosen field . The need for talented physician executives is high and the better your credentials , the more desirable you will be as a candidate . The typical qualifications for an entry role include five years of clinical practice , board certification and state licensure , plus excellent verbal and computer skills . I have made it a priority to participate in maintenance of certification ( MOC ) and am now three times recertified in cardiovascular diseases . I actively participate in CME classes , and find it exciting to take classes in non-cardiology topics . I have six active state medical licenses and my company pays for those renewals , plus my board recertification . Although the demand for primary care physicians is high in these roles , specialists are also valued for their unique backgrounds . Most physician executives who seek leadership positions will have a post-graduate degree such as an MBA , MPH , or equivalent . Typically , a physician starts as a reviewer doing medical necessity determinations , which entails primarily doing work at a computer , and in these coronavirus days , most commonly from home . This role usually expands to increasing business responsibilities . There are many opportunities for committee work , clinical projects and manuscript preparation among other duties any physician is expected to do . I also suggest doing what I have : maintain professional contacts and continue to actively engage in professional societies . I continue to be active with the Greater Louisville Medical Society , Kentucky Medical Association , the Kentucky Chapter of the American College of Cardiology and the Innominate Society . I am completing my term as the Chair of the Board of the Coalition for the Homeless . I encourage others to maintain similar professional and personal engagements . In addition , develop a professional social media presence , network and have a high-quality and complete LinkedIn account .
In summary , the opportunities in this area of medical practice for a satisfying , challenging , fulfilling and financially rewarding career are immense . I ’ m pretty sure I ’ m not ready yet to start my second retirement .
References :
1
Davis B . Outside the Fold : Exploring Nonclinical Work Opportunities for Physicians . NEJM CareerCenter , https :// www . nejmcareercenter . org / article / outside-the-fold-exploring-nonclinical-work-opportunities-for-physicians /? s = 14 July 1 , 2019 .
2
Anon . Alternative Career Ideas for Burned Out Physicians . https :// www . wheel . com / blog / alternative-career-ideas-for-burned-out-physicians / February 2019 .
3
Fork H . Up and Coming Non-Clinical Career : The Physician Advisor . http :// www . thephysiciansedge . com : 8730 / up-and-coming-non-clinical-career-the-physician-advisor / November 2018 .
4
Bradt G . In Praise of Matrix Organizations . https :// www . forbes . com / sites / georgebradt / 2018 / 10 / 09 / in-praise-of-matrix-organizations /? sh = 3c96b9b37032 .
October 2019 .
TRANSITIONS IN PRACTICE
Dr . Payne is a board-certified cardiologist and is a Medical Director with CVS Caremark .
DECEMBER 2020 15