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Join Corinne Sundar Rao, an internal medicine physician, and Aaron Morgenstein, an orthopedic surgeon, to explore the evolving landscape of medical practice. We discuss the challenges health care facilities face in recruiting and retaining physicians, the shifting …
Part-time opportunities for modern physicians [PODCAST]
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Join Jonathan Appino, founder of Contract Diagnostics. He discusses a unique approach that provides comprehensive contract reviews, custom-built solutions, and vital educational resources to empower physicians. We delve into the intricacies of complex compensation models, staying updated …
Holistic physician contract reviews [PODCAST]
I can’t believe it is the last quarter of 2023 already.
As the end of the year approaches, many doctors are busy with patients trying to get in for procedures as deductibles get met. It’s also a crucial time to consider what’s going to happen when you file your taxes in 2024.
Making strategic investments before the year’s end can significantly reduce your tax liability and potentially increase your wealth in the …
Year-end tax strategies: How to lower your tax bill
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Join Tod Stillson, a family physician, as he uncovers the transformative concept of professional micro-corporations and how they’re reshaping the way doctors navigate their careers. Stay tuned as we discuss the keys to reclaiming professional autonomy, combating …
How micro-corporations transform medical careers [PODCAST]
Physicians, particularly those who haven’t received business education, must address the frequently circulated question among their ranks: “Can you practice medicine without money?” Medical history unveils an era when most physicians were compensated through non-monetary means for their medical services and often went unpaid.
During that time, the choice to pursue a medical career was grounded in the personal belief that treating patients was the foremost aspiration for most physicians. Few …
Business education’s role in preventing physician practice decline
In times of economic uncertainty and recessionary storms, the significance of cash flow becomes an indispensable lesson for experienced investors. While market turbulence may seem daunting, focusing on cash flow can act as a robust financial lifeline, providing stability, resilience, and unparalleled opportunities to weather the storm and emerge stronger on the other side.
Cash flow, simply put, is the lifeblood of any investment. It represents the net income generated from …
Navigating recession with cash flow: a vital lesson for savvy investors
Meet the doctors: Dr. Emily Carter and Dr. Carlos Martinez.
Dr. Carter is a primary care doctor, and Dr. Martinez is an allergist. Both doctors are committed to their medical careers. Dr. Carter earns about $180,000 a year, while Dr. Martinez earns about $400,000 a year. However, Dr. Carter is taking a proactive approach to her financial security, thinking early on about taxes, investing, and time. Dr. Martinez is enjoying his …
Large income doesn’t always result in greater wealth
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Join Dennis Hursh, an attorney with 40+ years of expertise in health law. Discover the nuances of locum tenens agreements for physicians, from tax implications and expense deductions to malpractice insurance essentials. We’ll delve into patient contact …
Unveiling the intricacies of locum tenens agreements [PODCAST]
When it comes to personal finance and wealth-building, the phrase “time in the market beats timing the market” is often touted as an unshakable truth. The concept suggests that consistently staying invested in the stock market, regardless of market fluctuations, is the surest path to long-term financial success. However, as with any financial advice, it’s essential to critically examine its validity and consider the nuances involved. Let’s delve into the …
Is it really necessary to always stay invested in the stock market?
Are you solely relying on your income as a doctor? You might feel safe operating like this, but what if there’s a way to make your financial future even brighter?
In this fast-paced financial age, having more than one income stream is no longer just a smart move—it’s crucial to securing your financial future.
In this article, I’ll uncover the exciting potential of diversifying your income in today’s medical landscape from a …
The silent threat of doctors relying on one income
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Meet Altelisha Taylor, a family medicine physician, and get clear insights into student loan repayment options. We discuss the Public Service Loan Forgiveness (PSLF) Program and discuss options to address medical school debt as a new attending.
Navigating medical student loan repayment choices [PODCAST]
Money, a topic often shrouded in secrecy and discomfort, has the power to shape our lives and influence our opportunities. Whether we like it or not, finances play a pivotal role in our personal and professional endeavors. However, our fear of talking about money can become a significant hindrance, limiting our potential for growth and success.
In many ways, discussing finances has become a social taboo. We avoid it at family …
Why embracing money conversations is good for your health
Every business, regardless of type, size, or structure, has one primary reason: to make profits. In economic theory, every business is successful exactly to the extent that it does something others cannot. Business profitability rises to the extent that universal business principles are adopted and integrated into the medical practice business.
Business growth, endurance, and increasing profits over time are possible only when business management principles and marketing strategies are embedded …
The cost of skipping business education for doctors
During my tenure as a practicing physician, I’ve grasped that each patient necessitates and is entitled to comprehensive and unique follow-up care. Fascinatingly, this rule also relates to us, the contracted physicians. I’ve realized that a physician’s employment contract isn’t static; it is subject to deliberate and incidental alterations.
The involvement of attorneys in contract negotiation is imperative, but their influence tends to recede after the contract …
Why your physician career needs more than a contract lawyer for maximum compensation
Did you know that according to research, teachers are more likely than doctors to become millionaires? How is that possible? Well, some of it has to do with the social pressure we face. However, a lot has to do with many of us thinking that because we are highly educated, we can also be effective financial advisors for ourselves. The reality is that for most of us, this is …
Choosing financial advisors for physicians
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Join Dennis Hursh, an attorney with over 40 years of experience in health law. We explore the complex decisions physicians face when considering leaving a position without proper notice. Discover the legal, financial, and reputational consequences that …
Exploring consequences of early physician departures [PODCAST]
Treating patients with dignity is a fundamental cornerstone of our profession. Although we can all cite situations where we or our colleagues fell short, most of us aspire to helping our patients feel safe and respected. Yet the flip side of this equation is rarely mentioned. And the truth is that physicians are often not treated with the same dignity by their systems or their patients.
In this article, I’ll go …
Mitigating physician burnout: Rediscovering your dignity
As doctors, we all know that when we care for an informed patient, the conversation is more meaningful, and the patient can make a more informed decision about their care.
The same is true in the investing world. We are all very busy, but it is important we understand some basic financial terms so when we are either picking our own stocks or mutual funds or talking with a financial advisor, …
Avoid being an uninformed financial patient
Investing in mutual funds can be a great investment choice for doctors who often have little time to analyze individual stocks. This is especially true for financial planning for early-career physicians. Mutual funds immediately provide diversification. But have you ever wondered what the letters after the mutual fund mean: A, B, C, or I? Well, picking the right class of a mutual fund can have a big impact on …
Little-known facts doctors should be aware of when purchasing the right class of mutual funds
It was at the very beginning of the fourth year of medical school that Kristen and I had our first kid. So, we decided to get life insurance. I didn’t know who to turn to at first, but then I was directed to an insurance agent at a well-known mutual fund company who happened to be my friend’s brother. As I sat down, he asked if I was healthy. To …
The reason every resident must get disability insurance during training
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