Unfortunately, the widespread financial opinions and advice to private medical practice physicians suffering from inadequate practice income today are dominated by a tsunami of experts outside of the medical profession. This includes the administrators and medical education scholars who are in the perfect position not only to diagnose the core problem but also to correct the core cause. So, why haven’t they done it?
In our journey as physicians, the traditional narrative often presents a seemingly binary decision: you must choose between seeking employment within a hospital or health care institution or venturing into the challenges of establishing a private practice. However, this oversimplified dichotomy fails to capture the evolving landscape of health care entrepreneurship, particularly the emergence of a third, less conventional path – that of the single-member professional micro-corporation.
Join Tod Stillson, a family physician and entrepreneur, as we explore the often-overlooked world of physician contracts. Discover the hidden menu of business-to-business contracts in the medical industry and learn how transitioning to …
Join Aysun Alagoz, an associate chief medical officer, to unravel the chilling reality of the medical peer review process. In a candid discussion, Aysun shares her firsthand experience of facing unjust disciplinary actions, …
In a recent cybersecurity breach, Change Healthcare, one of the largest health care technology companies in the United States, fell victim to a sophisticated cyber-attack. This incident has sent shockwaves through the health care industry, significantly impacting revenue cycles for numerous health care providers who rely on Change Healthcare’s services for billing, claims processing, and health care operations. The breach has exposed vulnerabilities in traditional health are payment systems and …
“The limits of tyrants are prescribed by the endurance of those whom they oppress.”
— Frederick Douglass
For doctors beginning their postgraduate professional lives, there are several options. One is the proverbial “hanging up the shingle,” a folk saying meaning going out on one’s own. The advantage is that this doctor is his/her own boss, can run the practice any way desired, and reap all the profits; the downside is such a …
Join us for an insightful discussion on managing finances in dual high-income earner households, featuring Shane Tenny, a financial planner. In this episode, we delve into the unique challenges faced by couples in …
We sit down with Marita McCahill, founder of a health care growth strategy consulting firm. In this interview, we explore the critical factors that influence patients’ choices when seeking health care providers, and …
In this episode, health care attorney Dennis Hursh delves into the contentious issue of executive compensation within the health care sector. With a critical eye on the disparities between physician and C-suite salaries, …
Many of you prioritize the clinical aspects of our profession, but understanding the business side of medicine is equally crucial. One key area to consider is your contract, as it can significantly impact your career path and financial stability.
I believe it’s essential for every doctor to be knowledgeable about the variety of contracts they may encounter in the marketplace. The most common type of contract is the business-to-individual contract, where …
Pattern advisor Shelby Heiser discusses how disability insurance is more than a box that doctors need to check—it’s a tool for financial security and peace of mind.
Alaska Air Flight 1282 was on a trip from Portland to Ontario, California, on January 5, 2024. Barely six minutes into the flight, passengers heard a loud bang and a whoosh as the door plug in the middle section of the aircraft blew out. An unused exit door in the mid-part of the aircraft’s main cabin detached and fell out of the sky. One of the passengers sitting close to …
Did you know that non-compete contracts in the health care industry are constantly evolving? Join family physician and entrepreneur Tod Stillson as we dive into the latest legal changes impacting physicians’ professional mobility. …
Where I stand today regarding my forty years in clinical medical practice forces me to say things that every physician can personally relate to. After all, we old guys frequently languish in dispensing medical advice to our peers. Most of it comes from the heart.
We all adhere to the presumption that the “best doctors” are derived from an inner desire to help people with health care problems while relying on …
Escape rooms have become very popular. Entering a room of seemingly unconnected clues with a group of family members or coworkers creates a sense of fear and excitement that ultimately leads, if successful, to a great sense of accomplishment and relief. The entire experience is designed to enhance trust among team members and inspire confidence in working together to solve difficult problems. When it comes to improving the health care …
Join Tod Stillson, a family physician and entrepreneur, as he shares his journey from traditional hospital employment to forming a micro-corporation. Discover how Tod regained professional autonomy and boosted his net worth through …
In the fast-paced world of medicine, characterized by long hours, administrative burdens, and burnout, I’d like to share a story about an OB/GYN physician who discovered a path to professional freedom that revolutionized his career. Dr. B.A. had spent almost a decade working as a W-2 employee after finishing his residency. However, just before committing to a new contract with a substantial $500,000 annual salary, he came across an …
Join Tod Stillson, a family physician and entrepreneur, as he navigates the intricacies of tax planning and financial well-being for employed doctors. Tod provides valuable insights on transitioning from a traditional W-2 employee …
Join Dennis Hursh, a health care attorney. Dennis sheds light on the often misunderstood world of physician contract negotiations, emphasizing the importance of understanding one’s true value. He shares insights from his practice, …
As somebody who has reviewed physician employment agreements for 40 years or so, I have to admit I am more than a little jaundiced when it comes to the subject of hospital executive compensation. I’m not altogether convinced that one health system CEO really “earned” the $35.5 million he was reported to have been paid in 2021. I’m sure the pandemic was hard on him. Seeing all those physicians exposing …
