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Join us in this insightful episode as we delve into the 2024 MGMA DataDive, the gold standard for physician compensation data. Our guest, Jon Appino, the driving force behind Contract Diagnostics, will explore …
Physician compensation secrets: 2024 MGMA DataDive insights [PODCAST]
In the rapidly evolving landscape of health care, the urgent need for innovation has never been more critical. As a physician, you are uniquely positioned to drive transformative changes that can improve patient outcomes, enhance care delivery, and reduce costs. However, despite the opportunities, stepping into the realm of digital health and health care innovation can seem daunting.
The importance of understanding the imperative for innovation in health care
Health care systems …
How physicians can get started in digital health and health care innovation
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We dive into navigating stipend structures for final-year medical residents with insights from Jon Appino, the CEO of Contract Diagnostics. He shares expert advice on what to consider when evaluating stipend offers, understanding …
How to navigate stipend offers [PODCAST]
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We dive into the essential skills every physician needs to master in contract negotiation. Internal medicine physician Miguel Villagra offers practical advice on navigating the complex clauses and legal language, sharing key strategies …
Essential negotiation tips every physician should know [PODCAST]
Dr. Peter Onorato, an accomplished anesthesiologist, found himself at a crossroads. With a lucrative career and a substantial income, he was eager to grow his wealth. Like many high-income earners, Peter believed he could outsmart the market. Despite his wife’s concerns, he decided to invest over $300,000 in a tech startup after several days of online “research” and hearing from several colleagues in the doctor’s lounge about the expected 25-30 …
Behavioral finance: your mood and your money
All physicians are leaders, not just those with designated leadership titles, such as department chief, chief medical officer, or CEO. Leadership – i.e., influencing behavior to achieve a desired result – is foundational to the role of doctor.
But we aren’t routinely trained as leaders. More critically, as brand-new physicians, we aren’t explicitly told we are leaders. Typically, we think a “physician leader” is someone who has been promoted to an …
How better physician leadership can benefit our health care systems
Noticing the local physicians who practiced in your area, stayed for two years or so, and then moved to a “different place to practice” (cover story—meaning they never made enough income to stay in practice in your area) involves thousands of physicians across our nation annually, which has led to the physician attrition crisis today. Not enough money or income is most often the cause.
You may not know that you …
As physicians, we spend years mastering our craft—learning how to diagnose, treat, and care for patients. But there’s another area that demands mastery if we want to secure our futures: wealth building. The truth is, despite the high earning potential that comes with a medical career, far too many doctors retire with less than they imagined. Why? Because earning is one thing, but building sustainable wealth that lasts is an …
Leveraging your medical career for long-term wealth building
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We sit down with Tod Stillson, a family physician and entrepreneur, to discuss how physicians can regain control of their careers in a system designed to push them toward traditional employment. Tod shares …
How big business and government are shaping physician careers [PODCAST]
The quadruple aim represents an ambitious, holistic vision for the future of health care: improving population health, enhancing the patient experience, reducing per capita costs, and improving the work-life balance of health care providers. While many health care systems have adopted this framework, the widespread use of the relative value unit (RVU) system fundamentally undermines these goals. Far from facilitating the quadruple aim, the RVU system creates a chasm between …
The mythical belief that almost 100 percent of medical school students have accepted over the last century—that one can practice medicine without the need for a business education—has contributed not only to the crisis in health care and the physician attrition crises we see today, but also to the rapid disintegration of private medical practice in our nation.
The confusion covertly introduced into medical students’ minds stems from the missing segment …
Most medical school students are being seriously compromised in their future medical careers
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We sit down with Dennis Hursh, a health law attorney with decades of experience representing physicians in their interactions with hospitals. Dennis shares eye-opening stories of how hospitals use restrictive contracts and aggressive …
Why are hospitals cornering doctors with this legal trap? [PODCAST]
“Administrative harm is destroying American medicine” is the title of a provocative article published in the July 13, 2024, issue of KevinMD by Arthur Lazarus, MD, MBA. He references business entrepreneur and billionaire Michael B. Kim, who said: “Leadership without ethics is a body without a soul.” As examples of administrative harms, Dr. Lazarus cites “unrealistic staffing models, burdensome regulations, out-of-touch administrators, lack of frank feedback to leaders, and …
Hospitals should recognize and address administrative harm
“I’m in my final year of orthopedic surgery residency and will do a one-year fellowship (I finish July 2026). I’m in the early phases of talking to potential employers, many of which say they could offer a stipend as I finish my training. Do you have any advice on how a stipend should be optimally structured?”
Stipend secrets: Navigating your final year of residency
As you approach the final stretch of your …
Navigating stipend offers: a resident’s question
All physicians understand that the gradual disintegration of private medical practice in our nation is already happening and that our government continues to take complete control of health care and the medical profession by any means possible. Physicians in medical practice (both employed and independent) are reaching a level of intolerable strain imposed by fee restrictions and medical practice mandates, among other challenges.
All of these issues result from one core …
Physicians: What you don’t know about money and practice success will shock you
It took me forever to retire—three years or so. It took so long that my nurses got tired of bringing me purple cakes decorated with whipped cream stethoscopes, but I did it. Now, a few years later, I can tell you that the things I worried about were not the ones that gave me trouble.
I had mostly agonized about money—had we saved enough to last us the rest of our …
The surprising struggles of retirement no one warned you about
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We sit down with Freddie Rappina, a financial advisor, chartered financial consultant, and accredited investment fiduciary, to explore how the SECURE Act and SECURE Act 2.0 have changed the landscape of retirement and …
Don’t let the SECURE Act devastate your legacy [PODCAST]
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In this episode, we dive into the emerging trend of money dysmorphia—a distorted perception of one’s financial situation that’s affecting people across all income levels, especially younger generations. Our guest, Shane Tenny, a …
Money dysmorphia: Why you feel like you’ll never have enough [PODCAST]
Are hospitals crazy?
I suspect many physicians would answer “yes” to that question without much contemplation. I have always assumed that, although hospitals are profit-driven and therefore likely to have very different priorities than physicians who care about patients, the institutions can be relied upon to have some semblance of reasonableness.
Lately, however, I have been forced to reconsider my position. For decades, I have represented physicians in their various interactions with …
The legal trap every doctor needs to know before signing a contract
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We sit down with W. Ben Utley, a certified financial planner specializing in helping physicians navigate the unique financial challenges of their careers. We explore how doctors can break free from the pressure …
Doctors, stop chasing wealth: How to find true happiness beyond the paycheck [PODCAST]
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