Practice Management
Finding purpose: How physicians can craft meaningful careers in medicine [PODCAST]
New employment contracts: What physicians need to know about compensation and benefits
Physicians receiving a new employment contract need to be aware of issues that can arise related to their compensation and benefits. These are some of the things that should be carefully reviewed before signing the agreement.
Compensation
The agreement should clearly provide what productivity is expected. You can frequently gauge expected productivity by the salary level. If one employer is paying significantly more than another, it is a safe bet that the …
Maximize your practice’s revenue: Follow these 5 billing metrics
Healthcare Business & Technology states that “doctors in the U.S. leave approximately $125 billion on the table each year due to poor billing and coding practices.”
As your private practice grows, don’t leave money on the table!
This article reviews the top 5 billing metrics and benchmarks you should be aware of to track your performance and set key performance indicators (KPIs) when running a private practice. Practices that make the recommended …
The million dollar mistake: Why medical schools don’t teach business and how it’s costing physicians
The fact that every physician in private medical practice, without a business education, leaves approximately a million dollars on the table and is unaware of it is well known to business experts who work with medical doctors experiencing financial difficulties. Business experts such as Dan S. Kennedy, Peter Drucker, Michael Gerber, Maxwell Maltz, Neil Baum, William Hanson, Huss and Coleman, Steven Hacker, Thomas Stanley, Chris Hurn, Napoleon Hill, and Dave …
Having a great CV is not enough: Start building your portfolio
Many physicians believe the curriculum vitae (CV) represents the most integral aspect of applying for new opportunities. Post-pandemic, more physicians than ever are exploring ways to leave their current positions in clinical medicine. Some are looking to practice medicine differently, while others are looking to escape the practice of medicine with part-time and full-time non-clinical roles.
As the applicant pool of physicians looking to make career changes has grown, applying for …
Secrets from a physician-entrepreneur [PODCAST]
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“Health care has changed dramatically in the last decades, from the introduction of electronic medical records to the COVID-19 pandemic serving as a catalyst for telehealth and virtual care options to the increased familiarity with digital therapeutics, …
Character, not cash: the ingredients of a happy and meaningful life
I recently came across a few videos, notes, and books from Jim Rohn (Tony Robbins’s mentor), and I found so much timeless wisdom. Take note that the book, 7 Strategies For Wealth and Happiness, was released in 1985.
Let’s start with what I consider one of the best definitions of success: “It’s the steady, measured progress toward a goal and the achievement of a goal. Success is both an accomplishment …
A physician shares his financial mistakes
Physicians often make mistakes when it comes to their personal finances and wealth-building strategy. We are human, after all. Private forums, blogs, and podcasts are filled with horror stories of physicians being scammed into buying expensive whole-life insurance, having disability insurance that didn’t include own-occupation coverage, and being steered toward high-fee investment vehicles by financial advisors. There are also countless situations, such as messy divorces, the risks of doing business …
Don’t make this mistake with gratitude
We hear it all the time.
Practice gratitude. Be thankful for what you have.
The evidence is clear. Being grateful does offer numerous scientifically proven benefits.
It makes sense why gratitude is good for you, from improved relationships to decreased physical pain to better sleep to increased happiness and self-esteem.
In fact, it’s one of the keys to leading an abundant life full of what you desire and deserve.
But gratitude is not just …
Leaders who elevate diverse employees create psychological safety
When I transitioned into a new role as a training faculty member at an academic medical center a few years ago, it didn’t take long to realize that the program had a problem with psychological safety. There wasn’t much.
As I got to know the trainees and heard specific feedback, I began to understand why. The trainees felt criticized and unsupported by the training faculty. And every time there was a …
Everything you need to know about a physician mortgage loan
People might think having a medical degree can help you get a home loan. But it’s more complex and nearly impossible for physicians. Medical professionals, especially recent graduates, often have a high debt-to-income ratio because of student loans, making it difficult to qualify for conventional home loans. Doctors also have trouble when they don’t have any savings.
Fortunately, there is an alternative tailored explicitly for physicians called …
How clinicians can respond to the “big ask”
“Between stimulus and response, there is space. In that space is our power to choose our response. In our response lies our growth and our freedom.”
– Viktor Frankl
In the post-pandemic practice environment, the autonomy-squishing “big ask” within many organizations is for providers to see more patients and improve practice efficiency with dwindling resources so as to buffer the bottom line and allow for system recovery. This mandate may make us …
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Don’t be like Elon Musk. Get a lawyer for your clinic.
Employers need lawyers. This doesn’t just apply in medicine — it’s true everywhere. For a recent high-profile example, let’s consider Twitter. If massive layoffs had been made without adequate notice as required by California law, they could be on the hook for millions of dollars in damages.
However, medicine likes to consider itself as different from other businesses. It’s a nice idea, this fantasy of the country doctor who delivers babies …
Every physician should own a timeshare [PODCAST]
If the hospital CEO emailed employees like Twitter’s CEO
To: [Group: all employees]
From: Office of the CEO
Subject: A fork in the road
Going forward, we will need to be extremely hardcore to streamline a restructured Health care 2.0 and succeed in an increasingly diseased world. This will mean working even longer hours at high intensity. Only exceptional performance will justify a new N95 mask each week.
Health care will also be much more profit-driven. Physicians and nurses will still be very …
A case against real estate syndications
If you like real estate, you may have heard the term “real estate syndications.” This is a fancy term for group investment, where several people get together to acquire a big asset (like an apartment complex), they form an LLC, and there are active investors who manage the property and passive investors who help with the capital for the down payment, and they get to share the profits with the …
Time constraints in physical therapy [PODCAST]
We get what we incentivize
We get what we incentivize.
This is a basic rule. I’d love to say it’s a basic rule of humanity, but unfortunately, I have a background in psychology, so I know it goes a lot deeper than that—it’s a basic rule of every living creature. Humans are, in many ways, just very big pigeons. We reliably prioritize certain rewards. We prefer smaller sooner rewards to larger later rewards; we push the …
Medical innovation: a serendipitous step toward gender equity
There has never been a better time to be a woman entrepreneur. With ever-growing numbers of venture funds specifically for women and nonprofits dedicated to advancing women in tech, the next Apple is ripe for the picking. However, there remains a wide chasm to cross. Currently, startups led by women command less than 3 percent of venture capital investment dollars.
Upon diving deeper into this disparity, a 2020 paper published by …
Past Week
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Why are medical students turning away from primary care? [PODCAST]
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Why “do no harm” might be harming modern medicine
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How New Mexico became a malpractice lawsuit hotspot
-
Why doctors are reclaiming control from burnout culture
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Why medical schools must ditch lectures and embrace active learning
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Why public health must be included in AI development
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Past 6 Months
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Why tracking cognitive load could save doctors and patients
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Why are medical students turning away from primary care? [PODCAST]
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What the world must learn from the life and death of Hind Rajab
-
Why “do no harm” might be harming modern medicine
-
Here’s what providers really need in a modern EHR
-
Why flashy AI tools won’t fix health care without real infrastructure
-
Recent Posts
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Why medical schools must ditch lectures and embrace active learning
-
Why helping people means more than getting an MD
-
How digital tools are reshaping the doctor-patient relationship
-
Why evidence-based management may be an effective strategy for stronger health care leadership and equity
-
Why health care leaders fail at execution—and how to fix it
-
Residency match tips: Building mentorship, research, and community
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Past Week
-
Why are medical students turning away from primary care? [PODCAST]
-
Why “do no harm” might be harming modern medicine
-
How New Mexico became a malpractice lawsuit hotspot
-
Why doctors are reclaiming control from burnout culture
-
Why medical schools must ditch lectures and embrace active learning
-
Why public health must be included in AI development
-
Past 6 Months
-
Why tracking cognitive load could save doctors and patients
-
Why are medical students turning away from primary care? [PODCAST]
-
What the world must learn from the life and death of Hind Rajab
-
Why “do no harm” might be harming modern medicine
-
Here’s what providers really need in a modern EHR
-
Why flashy AI tools won’t fix health care without real infrastructure
-
Recent Posts
-
Why medical schools must ditch lectures and embrace active learning
-
Why helping people means more than getting an MD
-
How digital tools are reshaping the doctor-patient relationship
-
Why evidence-based management may be an effective strategy for stronger health care leadership and equity
-
Why health care leaders fail at execution—and how to fix it
-
Residency match tips: Building mentorship, research, and community
-
