Finance

Smart asset protection strategies every doctor needs

Finance

August 19, 2025

Don’t let a lawsuit undo decades of hard work. Here’s how to keep your wealth safe!

According to the American Medical Association, approximately one-third of all physicians will face a malpractice lawsuit, and just under 2 percent of physicians will face a lawsuit each year. While the volume of lawsuits seems high, roughly half of these lawsuits are considered frivolous. These statistics should prompt any physician to add asset protection measures …

Why taxing remittances harms families and global health care

Dalia Saha, MD

Finance

July 29, 2025

Like many of my fellow physicians, I suspect I’m two things: a child of immigrants and a child of a physician. That combination gave me a unique window into two fundamental systems, health care and global economics, long before I studied either formally. I saw the sacrifices and hard choices required to navigate both, often simultaneously, with no geographic boundary ever limiting our responsibilities.

Many vivid memories from childhood have stayed …

A physician employment agreement term that often tricks physicians

Dennis Hursh, Esq

Finance

July 25, 2025

Lately, I have seen a few instances where physicians have been tricked by a term in their physician employment agreement that clearly does not mean what the physician thinks it means.

The most recent example came when I was negotiating a physician employment agreement, and the physician suggested verbiage concerning her scheduling. The physician suggested that we ask for language that the employer would develop a clinical schedule “after consultation with …

Why hospital jobs are failing physicians: burnout, pay, and lost autonomy

Justin Nabity, CFP

Finance

July 20, 2025

Hospital employment was once billed as the solution to the headaches of private practice — a way to gain stability, reduce administrative burden, and focus on patient care. But for many physicians, that promise has come undone.

According to the Physicians Foundation’s 2024 report, 60 percent of physicians report frequent feelings of burnout — the highest level on record. Instead of feeling supported, many employed physicians feel …

Decoding your medical bill: What those charges really mean

Cheryl Spang

Finance

July 6, 2025

Most people don’t read their medical bills—they panic over them. After all, receiving a multi-page statement full of confusing codes, unexplained charges, and unclear payment instructions isn’t just frustrating—it’s intimidating. I’ve worked with countless individuals who feel helpless in the face of these documents, unsure of what they owe, why they owe it, or whether the charges are even correct.

This confusion isn’t just common—it’s systemic. As a patient advocate and …

5 blind spots that stall physician wealth

Johnny Medina, MSc

Finance

June 29, 2025

Many of the physicians we work with are highly disciplined, generous with their time, and deeply committed to their profession. They spend years in training, work demanding hours, and carry an enormous sense of responsibility. Yet even with strong incomes and responsible habits, many still feel uncertain about their long-term financial picture.

The problem is not how much they earn. It is that income alone is not a strategy.

Physicians face unique …

The most overlooked skill in medicine: contract negotiation

Cynthia Chen-Joea, DO, MPH and Peter Baum, DO

Finance

June 26, 2025

As an early career physician, transitioning from residency or fellowship into attendinghood, or even just contemplating a job change, can feel both exciting and overwhelming. There’s the thrill of stepping into your first “real” job, finally earning a salary that reflects the years you’ve invested. But alongside that excitement often comes anxiety: About finding the right fit, navigating unfamiliar systems, and negotiating a contract you may not fully understand.

Amid all …

The business lesson new doctors must unlearn

Stanley Liu, MD

Finance

May 29, 2025

When graduating residents and fellows begin their careers as attending doctors, there is a wealth of financial advice out there. Grow into your salary slowly. Don’t buy a house right away. Get disability insurance. Plan ahead for the tax bomb that always takes attendings by surprise during that half-trainee/half-attending year.

Today, we won’t discuss any of those. We’ll focus instead on a business lesson that you must unlearn …

The hidden impact of denials on health care systems

Diana Ortiz, JD

Finance

May 4, 2025

Hospitals are facing unprecedented financial pressures, with staffing shortages and shrinking margins. Revenue cycle teams are stretched thin, and hospital leaders and health care professionals must continue to find ways to reduce costs and improve financial health.

One often overlooked opportunity to improve financial stability is denials management, which includes prevention strategies. Although hospital leaders and revenue cycle managers recognize denials as a significant issue, their lack of visibility to the …

Why physicians are unlike the “average” investor

David B. Mandell, JD, MBA

Finance

May 2, 2025

An excerpt from Wealth Strategies for Today’s Physician: A Multi-Media Playbook.

Physicians of all specialties are different from the average U.S. investor in several important ways. This statement reflects data in key areas that impact fundamental aspects of investing and wealth management. It is important for physicians to realize these differences because most financial news, whether in print, online, or on television, is geared to the average investor. Therefore, media …

Signing bonuses and taxes: What physicians should know

Shane Tenny, CFP

Finance

April 28, 2025

When physicians accept a job offer from a hospital, they are often enticed with a signing bonus in the form of a forgivable loan.

Given the complexities of looking for a job and negotiating an employment contract, it’s easy to see the words “signing bonus” and overlook the term “forgivable loan.”

However, while this may seem like an attractive deal, it carries significant tax implications that …

5 steps to ride out a non-compete without uprooting your family

Stanley Liu, MD

Finance

March 20, 2025

In 2025, I celebrated a monumental milestone: I saw a patient within 20 miles of my home. While this may be a daily occurrence for most physicians, it was something I could not do for 18 months due to a non-compete clause from my previous job.

When I left my position as an academic cardiologist, I was bound by a non-compete clause that prevented me from practicing cardiology within …

What every physician should know before buying into a medical practice

Dennis Hursh, Esq

Finance

March 20, 2025

If you have been offered the opportunity to buy into a medical practice, congratulations! For most physicians, this will be a tremendous opportunity. Being offered an ownership interest indicates that the current owners recognize your worth and are inviting you to “join the club.” It is hard to imagine a greater validation from your peers.

At the same time, physicians do need to protect themselves from a bad deal. In my …

Navigating your 457 plan: key steps for physicians changing jobs

Shane Tenny, CFP

Finance

March 17, 2025

When it comes to retirement savings, 401(k) and 457(b) plans are both popular options, but they have some key differences. While private employers typically offer 401(k) plans, 457(b) plans are available to employees of state and local governments and tax-exempt organizations under IRS Section 501, excluding churches and church-controlled organizations.

What is a 457 plan?

While a 401(k) is considered a defined contribution retirement account, a …

From caregivers to collectors: Navigating the new landscape of patient payments

Blake Walker

Finance

March 16, 2025

Most provider groups are not optimized to manage patient billing, and it’s breaking the bank. The problem often starts with the EHR systems that they have adopted, which are designed with insurance reimbursement as the priority, not the patient experience in mind.

For decades, providers operated in a world where the vast majority of their revenue came from insurance reimbursements. For most provider groups, patient billing was an afterthought. …

Empowering our children with financial literacy: Raising bold thought leaders and compassionate changemakers

Michele Cho-Dorado, MD

Finance

February 24, 2025

We, as physicians, dedicate years to rigorous education and training to excel in our chosen specialties. We endure periods of sleepless nights, poor nutrition, personal sacrifices, time constraints, and modest pay. For many, this journey is further compounded by the significant burden of student loan debt. We do this with the expectation that we will be able to make up for lost time later. Yet, too often, when financial stability …

Advancing health care through physician leadership: 5 skills for changing health care

Susannah Eastwick

Finance

February 23, 2025

No one knows for sure what’s coming in health care in the months ahead, but one thing is clear: The landscape in 2025 will undoubtedly be changing—and challenging. For physicians and others working in such fields, this is not new but an acceleration of recent trends. External factors, like the COVID-19 pandemic, and internal, more systemic ones have increasingly taken power away from doctors—impacting everything from patient care to physician …

What if the solution for physicians’ struggles was right in their faces, yet remains unrecognized?

Curtis G. Graham, MD

Finance

January 18, 2025

Nothing is more of an insult than suggesting that the 1.2 million very intelligent practicing physicians in our nation, whom we trust to keep us healthy, have never come up with a revolutionary cure for what has now become health care and physician crises. Who knows better about the actual practice of medicine and the multiple problems and challenges they face daily than physicians themselves?

The mental function of due diligence …

Personal financial planning shouldn’t be a taboo subject

Brian Case, CFP, Jerry Schreibstein, MD, Jonathan Moss, MBA, and Anders Apgar, MD

Finance

January 11, 2025

Physicians face immense challenges, from demanding work schedules and administrative burdens to the emotional toll of patient care. Burnout, turnover, and even suicide are distressingly prevalent in the profession. While systemic changes to health care environments are essential, financial well-being is an often overlooked factor in mitigating these challenges. Personal financial education and planning resources should not be considered taboo but a vital component of physician well-being. When openly addressed, …

The case for cryptocurrency payments in health care

Aamir Hussain, MD

Finance

January 5, 2025

Bitcoin has recently surged past $100,000, marking a pivotal moment in the adoption of cryptocurrency worldwide. Coupled with a regulatory environment under the Trump administration that promises to be more favorable to digital assets, now is the time for medical practices to consider integrating cryptocurrency payments into their operations. This combination of market momentum and policy support offers practices a unique opportunity to attract a broader clientele and improve financial …

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