Practice Management

Embrace an expanded identity: Become more than just a doctor

Physician

August 13, 2023

You have undoubtedly invested countless hours in honing your medical expertise to become great at helping others. Your commitment to the well-being of your patients is commendable, but sometimes, when you give too much of yourself, you can experience that dreaded burnout. That overwhelming sinking feeling, like you’re constantly spinning your wheels but not going anywhere. So today, I want to emphasize the importance of embracing your expanded identity and …

How to build a financial safety net without sacrificing your lifestyle

Amarish Dave, DO

Finance

August 12, 2023

Do your friends assume you are a “rich doctor,” and thus you feel pressure to meet that expectation?

Do you want to reward yourself after all the years of training and stress with some nice luxury toys?

Doctors often find themselves caught between two choices: living a luxury lifestyle and securing their financial future. It’s a delicate balance that requires careful planning and strategic decisions. But it doesn’t have to be an …

The art of compassionate leadership during employee turmoil

Anjani Mahabashya, MD

Physician

August 10, 2023

Introduction: In the face of adversity, my journey from being a hospitalist to a utilization management physician advisor was not without its challenges. However, this transformation’s story is filled with hope, networking, and empathy, showcasing the power of compassionate leadership during times of employee turmoil.

Hope: Even in the darkest days, when injuries prevented me from fulfilling my duties as a physician, I clung to hope. Believing in the possibility of …

Don’t become a poor doctor

Amarish Dave, DO

Finance

August 8, 2023

Do you know what most financial advisors say about doctors and how they manage their money?

It is not pretty.

I have been in those conversations, and stereotypical doctor stories come out.

Impulsive purchases, lack of knowledge, and easy to manipulate into poor investments are just a few of the things I have heard.

Now, in our defense, we spend ten or more years studying to become a doctor and, one day after residency, …

Read more…

Don’t become a poor doctor

Locum tenens agreements for physicians

Dennis Hursh, Esq

Conditions

August 7, 2023

Locum tenens agreements can be useful to physicians in many circumstances. In addition to serving as a way to supplement your income during vacations, physicians often enter locum tenens agreements between jobs, to provide income while waiting for interviews or for credentialing to be completed at a new position.

In many ways, reviewing a locum tenens agreement is similar to reviewing a physician employment agreement, but there are unique aspects to …

Read more…

Locum tenens agreements for physicians

Doctor burnout: the impact of financial fragility

Amarish Dave, DO

Finance

August 3, 2023

Feeling burned out is often a function of financial fragility. How is that possible when most doctors earn incomes in the top 1 percent?

I am both a physician and involved in finance. As physicians, we often start our careers under significant debt, start our careers at an older age, and start with less savings than many of our friends who are professionals in other industries. Starting our careers at this …

Bitcoin investment for doctors: risks, rewards, and the necessity of diversification

Noah Kaufman, MD

Finance

July 31, 2023

As the world becomes increasingly digitized and economic realities continually shift, there has been a growing conversation among medical professionals regarding investing, particularly in digital assets like Bitcoin. The appeal of Bitcoin is substantial, especially in an era marked by high inflation rates. Bitcoin is the first “programmed” money that relies on math and code. It has an open public and simple code and has never been hacked. This is …

Ensuring fair reimbursement for emergency procedures

Deepak Gupta, MD and Shushovan Chakrabortty, MD

Physician

July 30, 2023

The applicability of add-on payment/reimbursement qualifiers/modifiers for emergency procedures should not be limited to patients’ emergency conditions alone. They should also be applicable to situations where arrangements are made for procedures outside regular office hours or on weekends. This includes cases where proceduralists choose to schedule procedures during after-hours or patients choose to have procedures during these times. Additionally, these qualifiers/modifiers should apply to proceduralists who work during after-hours or …

How AI will protect everyday Americans from overwhelming medical debt

Braden Pan

Finance

July 27, 2023

America’s medical debt problem is out of control, with collection agencies holding around $140 billion in unpaid medical bills.

Some experts think the amount of medical debt may actually reach $1 trillion and affect nearly 1 in 3 Americans. That’s because not all medical debt appears on credit reports. Moreover, many people pay their medical bills with their credit card and then are forced to have those unpaid …

The core problem behind physician burnout: loss of independence

Brian Hudes, MD

Physician

July 22, 2023

Physician burnout and the shortage of physicians are pressing issues within the health care industry, often unnoticed by the general public until their own health is at stake. The erosion of the title “doctor” and the increasing encroachment on physician authority have contributed significantly to this problem. Physicians have allowed the interference of the federal government, burdensome regulations, and insurance company restrictions to impede their ability to provide quality care. …

Physician burnout is a threat, no different from the spread of a virus—here’s how to fix it

Ben Kornitzer, MD

Physician

July 15, 2023

Few problems in health care are more vexing or persistent than physician burnout. It’s a problem that poses a serious threat to patient care, no different from the spread of a virus or the impact of cigarette smoke. And it has only gotten worse since the pandemic.

Burned-out physicians are less effective as healers. They don’t connect as well with patients, undermining the therapeutic benefits of a close clinician-patient relationship. They …

Mastering mindfulness: Restoring autonomy and curing burnout for physicians [PODCAST]

The Podcast by KevinMD

Podcast

July 14, 2023

Subscribe to The Podcast by KevinMD. Catch up on old episodes!

Join Gail Gazelle, an internal medicine physician, physician coach, and author of Mindful MD: 6 Ways Mindfulness Restores Your Autonomy and Cures Healthcare Burnout, where we explore the transformative power of mindfulness in health care. In …

Demystifying options: How to generate income, enhance returns, and safeguard investments with confidence

Scott Kyle and Patrick Fischer

Finance

July 13, 2023

An excerpt from The Compound Code: An Expert Guide to Trading Stocks & Options.

The focus of this chapter is on how to use options to generate income, enhance returns, and provide downside protection. Options can be complex and confusing, if not outright intimidating. Many people think of derivatives in general …

Unlocking business acumen: Why doctors must take charge of their careers

Woojin Joo, MD

Physician

July 12, 2023

Lack of business education among doctors is a topic I’ve been considering as I decide which direction to take in my career. I wholeheartedly agree with the lack of physician engagement in the business of medicine is troublesome. However, blaming academia’s lack of financial education as an external force for the profession’s lack of financial ability is not productive. The mindset of placing responsibility on our educators actually exemplifies …

It’s time for every doctor to start a professional micro-corporation

Tod Stillson, MD

Finance

July 5, 2023

The broken status quo

The hard, cold truth is that half of you will end up teetering on the same burnout cliff that I found myself looking at a decade ago. It’s a painful abyss, and many of you will experience it.

The status quo of resigning ourselves to accepting that half of the brightest and most altruistic humans on Earth will be injured and harmed by the current health care system …

Key factors for complete, easy, and fair payments

Deepak Gupta, MD

Physician

July 2, 2023

Both privileged and marginalized payers should reflect on the completeness, difficulty, and straightforwardness of procedures, processes, and payments.

When it comes to procedures that are reimbursed at reduced rates due to their incomplete nature, it is important to consider the reasons behind the failure to complete them. Were the factors patient-related, provider-related, or related to the location? Were there issues with the preparation for the procedures themselves? Furthermore, if the failure …

Top 4 money mistakes doctors make

Jordan Benold, CFP

Finance

June 29, 2023

Yes, this sounds very ominous. However, there is a reason why I wanted to alert you to the fear of mismanaging your finances. Doctors live in the limelight and are highly traceable on the internet. Also, physicians earn large amounts of money, which can sometimes be overwhelming, giving a false sense of never running out of it. Therefore, I want to review the top four mistakes doctors make with their …

Read more…

Top 4 money mistakes doctors make

Unlocking the secrets of medical practice success

Curtis G. Graham, MD

Physician

June 27, 2023

“The cause of man’s problem is a lack of knowledge. It does not stem from a shortage of information but rather from the rejection of information.”
– Hosea 4:6

This event in medical history is one such lesson that describes the blinding of physicians to the realities of open-mindedness and the destructive potential that results from ignoring factual truth.

If it weren’t for the persistence and medical ingenuity of an early 1800s medical …

Cracking the code of physician contracts: Mastering letters of intent [PODCAST]

The Podcast by KevinMD

Podcast

June 22, 2023

Subscribe to The Podcast by KevinMD. Catch up on old episodes!

Join us for an insightful podcast episode featuring Dennis Hursh, a veteran attorney with over 40 years of experience in health law. Discover the importance of letters of intent in physician contracts, their purpose, and the legal …

How a lack of business education is destroying private medical practice

Curtis G. Graham, MD

Physician

June 20, 2023

Over a million intelligent American physicians are walking around in the medical practice environment today, patting themselves on the back while believing they have reached their ultimate success in medical practice. They have absolutely no idea that they have never come close to their optimal potential. It’s a tragedy that has been disregarded yet tolerated by medical school scholars and administrators for at least the last century.

What every physician should …

Practice Management

Most Popular

Past Week

Past 6 Months

Recent Posts

Subscribe to KevinMD and never miss a story!

Most Popular

Past Week

Past 6 Months

Recent Posts