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 …
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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 …
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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 …
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 …
When a physician signs on at a new hospital, a signing bonus is often included in the compensation package. This bonus can range from a small perk to a significant percentage of income, and its structure can be either straightforward or confusing. The signing bonus is one of the items in a physician’s compensation contract that can be negotiated, although some give-and-take is often involved. For example, in some situations, …
“Give every man thy ear, but few thy voice; take each man’s censure, but reserve thy judgment.”
— William Shakespeare.
In the dynamic world of business, the landscape is littered with tales of success and failure. However, a recurring narrative that I see repeated over and over and that ensnares many novice entrepreneurs is the misleading promise that “you can strike it rich or be successful with all ventures.” This piece of …
As a physician, I spent years training to care for patients, only to realize by the time I completed my education that I wasn’t truly in control of my career. Like so many of us, I had been funneled into a rigid system that pushes physicians toward employment with large health care systems rather than allowing for independent practice or entrepreneurial ventures. It felt like I had been herded—herded by …
In today’s health care ecosystem, patient retention has become a $3 billion dollar issue for health systems, with patient leakage (also known as patient keepage) at its core. Despite efforts to keep patients within their networks, a significant portion continue to seek care elsewhere, leading to financial losses. Interestingly enough, physical therapy proves to be key in improving patient retention, as recent data shows that rehab-related leakage is the number …
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In this episode, neurosurgeon Leon Moores delves into his book, All Physicians Lead: Redefining Physician Leadership for Better Patient Outcomes. He challenges the traditional view of physician leadership as limited to formal titles, …
In today’s financial landscape, it is imperative for women in medicine to take charge of investing their own money. Physicians face a myriad of disadvantages when it comes to wealth building. The average medical student will be saddled with an average of $200,000 in student loan debt. The nature of prolonged medical training puts physicians at another disadvantage, with a high debt-to-income ratio until their mid-to-late 30s, causing them to …
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Join us as we explore two compelling case studies featuring Jon Appino, the driving force behind Contract Diagnostics. In the first, three interventional radiologists, earning over $700k but under-compensated by market standards, sought …
An excerpt from All Physicians Lead: Redefining Physician Leadership for Better Patient Outcomes.
I Googled the term “physician leadership” and got 183,000,000 hits in 0.45 seconds. There are seemingly endless courses and programs devoted to developing physician leadership, and there’s no shortage of attention to the topic.
Almost uniformly, however, the books and courses approach the topic from a similar angle. Physician leadership is often viewed as something that occurs when …
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Join us on this episode as we talk with Tod Stillson, a family physician and entrepreneur, who has successfully transitioned from traditional employment to becoming a high-earning independent contractor. Tod shares his journey, …
A new, concerning trend in society has emerged online and across social media: money dysmorphia. It’s the latest version of the comparison trap and aims to describe a distorted view of one’s financial situation and how one is doing financially.
What is money dysmorphia?
Money dysmorphia is a psychological condition where individuals have distorted perceptions of their financial status, often leading to unhealthy behaviors and attitudes toward money. Similar to body dysmorphia, …
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Join us as we delve into the evolving landscape of physician employment agreements with Dennis Hursh, an attorney. Discover the significance of the new Individual Specialty Residency Program Agreements that compensate physicians for …
Having an ambitious understanding that small private medical practice businesses are the “belt and suspenders” that enable your medical career to approach your elite expectations for your medical career success is only part of your drive toward an illustrious medical career.
Your medical training, knowledge, and skills are how you grow, expand, maintain, and earn income. Physicians have struggled for decades to weave these two pillars into a highly functional, well-oiled, …
Purposeful disregard for business education tears away the only platform that guarantees the highest incomes in private medical practice.
Along with the other challenges that continually reinforce physicians’ financial problems, the indoctrination of all medical students and later physicians with the “groupthink” myth that has been destroying physician practice careers for the last century is added to the list. You know, “You can practice medicine without a business education.”
The fact that …
Practicing physicians have been extremely lucky over the last century to have survived financially in the health care system to the degree that they have today. Judging from my 25 years of medical practice research and 40 years of clinical medical practice experience, I have been watching the self-disintegration of most physicians’ value to the profession.
Your personal values become hostage to the Medical-Industrial Complex or Medical Deep State. Just the …
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