An excerpt from Soul in the Game: The Art of a Meaningful Life.
A rental car counter clerk had the audacity to tell me that the SUV I ordered was not available and I could only have a minivan. (I know, I can feel your blood boiling, too.) In …
With many health care systems around the world an elaborate mess, real estate can be an efficient strategy for doctors to ensure their financial future after retirement. They can benefit from long-term appreciation and tax breaks by investing in real estate.
As economies and technologies continue to evolve, many physicians have started buying real estate for investment purposes. Some doctors choose to invest their money in real estate to diversify their …
I see your comments on social media, and I wonder: Why are you upset? How do the negative comments towards physician colleagues serve you?
This is not an attack (that would be hypocritical). Rather, I invite you to genuinely ask yourself these questions as I sense something familiar — a projection of frustration and pain, perhaps? And I wonder how we may stop projecting and, instead, indeed start healing together?
While I’ll …
Inspired by an essay published in Iowa Law Review by Bartlett and Gulati from Duke Law School that succinctly elaborated on underexplored discrimination by customers.
Now, we will elaborate our thoughts as they correspond to health care.
While practicing clinical medicine, health care professionals, including physicians, may encounter implicit bias of their patients even when the payments for the services rendered to patients are by third-party payers as regulated …
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“Unlike my dad, I grew up with very different feelings about my own longevity. I have always believed that I would live to a ripe old age. This belief has colored my approach to career and finances. In many ways, I was able …
Military physicians leaving the military have several issues that should be carefully evaluated before executing a contract with a civilian employer.
First of all, the income is definitely going to be higher than the military physician salary. Much like a physician coming out of training, military physicians should ask whether the salary is fair, not if they will be making more than they currently earn. Medical Group Management Association (“MGMA”) benchmarks …
You always have a choice as to what to negotiate in a contract. You could redline the entire agreement, infuriating your future employer or potential partner in a joint venture, nitpicking things that don’t matter, or you can hone in on the areas that will really hurt you. In this article, we are going to discuss four things to focus on in a physician employment contract that will get you …
When I work as a doctor, being in the right mindset is crucial to be sharp and focused. But sometimes, concentration is more scattered, and performance is not at its prime. It’s human. But there may be a way to overcome this.
You may have noticed that Rafael Nadal is executing weird and stereotyped moves during each match. He places his hair behind his ear, pinches his nose, …
An excerpt from Taking Stock: A Hospice Doctor’s Advice on Financial Independence, Building Wealth, and Living a Regret-Free Life. Copyright © 2022 Ulysses Press. Reprinted with permission from Ulysses Press. New York, NY. All rights reserved.
You are going to die.
Imagine that I have walked into your hospital room …
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“My wife is a urogynecologist lucky enough to get through her seven years of residency plus fellowship with “only” $124,000 of student debt. When we discussed how we were going to get rid of this debt, she had always assumed that it was …
Starting a new job can be nerve-wracking and exciting. Along with negotiating salary and benefits, you should also ask about a few other factors to know what you are getting into. Here are eight questions to ask before you join a new medical practice.
1. Why are you hiring? Some practices are hiring because they are growing. Other practices are hiring because people are quitting. What is the case at this …
Most physicians choose medicine to care for others. The essential premise balances this selfless, optimistic objective that the physician is healthy and happy with enough knowledge, experience, and abundance to heal their patients.
Unfortunately, our health care system thwarts us at every turn, with continual devaluation and reduction in reimbursements, paralyzing insurance and government regulations, and demoralizing lack of control.
Ballooning student debt and declining reimbursements, and the perception of greater stability …
When it comes to developing healthy habits, there’s no one-size-fits-all approach. However, certain habits are particularly effective when working as a physician. These are what we refer to as high-performance habits.
Being a physician is one of the most challenging jobs out there. I know this because I am one. It takes many years of schooling to become a physician. But, it takes even more than that. It takes …
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The unpaid time between training and practice is probably the one area of planning that catches most residents and fellows off guard. Transition planning involves preparing for the financial and lifestyle changes as you transition from training to practice.
Many new decisions will need to be made during this time, such as:
…
Choosing your employer is the most important next decision you will make for yourself. Signing that employment contract is the single most important use of your signature you will ink and affect your happiness for years, even the rest of your career. PAs and NPs: This applies to you, too.
1. Decide where you want to live. Location matters, and in today’s polarized political environment, choosing a state or region to …
We all know that physicians can make a good amount of money every month as their income. On the other hand, it has become increasingly apparent that the financial blunders they make at some point in their lives contribute to making things difficult while managing finances.
So, it is essential for both young as well as experienced physicians to understand the possible mistakes they have been making and how they can …
You can get a better deal paying out-of-pocket for routine medical care even if you already have coverage. Another key advantage of going self-pay for medical care is freedom of choice—since every provider takes cash, you don’t have to rely on the whims of an insurance network. You’re then free to pursue whatever doctor or facility you trust the most. That being said, keep your health plan and instead let …
In 2021, among the 37 individuals named to Forbes’ 30 Under 30 list for health care, 24 were identified as “co-founder” or “founder” (64%), while only ten individuals were MDs or MD Candidates (27%), and only 4 were both MDs and Co-founder/founders (11%). These metrics demonstrate that of people under the age of 30, the majority of those who were most recognized were not medical students, residents, …
Selecting a mortgage can be daunting. Understanding the mortgage terms, the total cost, estimated property taxes and insurance, and the bottom line on a month-to-month expense can be a lot to take in.
For many individuals, utilizing a mortgage to purchase a home can lead to months of underwriting, painful discovery and disclosure of financial documents, and consistently changing deadlines. This process aims to prove that due diligence is completed thoroughly …
“If you have never heard the term ‘financial infidelity,’ it doesn’t mean you don’t know what it is. In fact, according to a recent creditcards.com survey, 32 percent of respondents have financially cheated on their partners. Both finances and cheating can be complex subjects to discuss, even with and, sometimes especially with, those …
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