Business and Practice Readiness of Early Career Urologists: an Unmet Need.

Business education in surgical residency, defined as contract negotiation, investing, financial planning and information on practice types, is currently lacking, and it is unknown if early career urologists possess this business education. Thus, we investigated how young urologists perceive their business knowledge and which vehicles of education they most prefer. A 12-question survey was distributed to all urology residents, fellows and recent graduates to assess their self-reported business preparedness. Questions were administered concerning financial planning, familiarity with business models, ancillary income opportunities, coding and billing, contract negotiation, and awareness/use of AUA (American Urological Association) resources. Data were stratified by training year and practice type. The respondents were also asked their most preferred format for business education. A response rate of 10% was obtained with 230 total responses, including 89 (38.7%) from practicing urologists and 141 (61.3%) from trainees. The majority (88.3%) of respondents were not comfortable planning the business side of their practice and 71% were not aware of the AUA resources. Only 8% of practicing urologists and trainees were extremely comfortable with contract negotiation and 70% were not comfortable with assessing their own financial value. A majority was interested in podcasts, websites and online education. The survey results demonstrate a significant unmet need among early career urologists regarding business education. This self-reported lack of business literacy presents a blind spot in urological training. The development of an accessible business curriculum along with practical resources may have a vital role in the promotion of wellness and financial success among early career urologists.