Practice Management

A simple solution to rapidly increase physician financial literacy

Finance

October 17, 2018

Physician financial literacy is dismal. In the past, many physicians got their first introduction to finance from insurance salesman or financial advisors who give presentations over a free steak dinner.

My medical school’s attempt at teaching us personal finance was to have a financial advisory firm give a half-day lecture about student loan management, budgeting, and investing. While the advice wasn’t inherently bad, I don’t think many of my classmates retained …

7 reasons why this physician works half-time

James M. Dahle, MD

Finance

October 16, 2018

By the time you read this, I will have completed a transition to working half-time. Now, I know a lot of docs out there think emergency docs are already only working half-time, so perhaps I ought to start with explaining why that isn’t the case, even if emergency physicians work fewer hours than many other physicians.

Let’s start with the fact that most Americans consider 35 to 40 hours a week …

A scrum master for primary care

C. Todd Staub, MD

Physician

October 9, 2018

We should consider a new position in our primary care teams — that of the scrum master. “Scrum” is a rugby term that comes from agile, a work methodology for software development that now is being applied to industry and health care.

In rugby, a scrum is a huddle where the teams come together with interlocked arms to regroup and start play again. In agile, scrum masters facilitate team huddles and …

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A scrum master for primary care

7 keys to having a medical career that serves your life

Stephanie Wellington, MD

Physician

October 5, 2018

Doctors spend their early adulthood preparing for medicine. In college, we take classes to satisfy prerequisites and prepare for the MCAT exam. Medical school has a life of its own. The volume of material to master is extensive, and the pressure mounts to be your best. Next is the interview process for residency training and the anticipation of Match Day.

Then life will begin. Maybe?

Now, you are in your late 20s …

Should your practice hire a physician assistant or nurse practitioner?

Health eCareers

Physician

October 4, 2018

This article is sponsored by Careers by KevinMD.com.

Nurse practitioners and physician assistants are both advanced-practice providers with considerable autonomy, but they’re not interchangeable. Each brings something slightly different to the table, and if your practice is considering hiring an advanced-level practitioner, it’s important to understand the differences so you can hire appropriately for your need.

Because medical facilities are …

The answer to your prior authorization problem is simpler than you think

Dan Richards

Meds

September 30, 2018

Prior authorizations (PAs) have become increasingly burdensome for providers — they contribute to 92 percent of care delays and an estimated 77 million are submitted manually each year. In fact, the process has become so burdensome that many physicians get fed up with the process end up writing for less-effective prescriptions because they know the preferred drug will require a prior …

10 things wealthy doctors won’t tell you

James M. Dahle, MD

Finance

September 25, 2018

Guess what? You’re surrounded by rich doctors. You probably didn’t even know it. You know why? Because doctors don’t talk about that filthy lucre known as money. So while you’re assuming that all the other doctors in your group, office building, and hospital are in the same position as you, you’re wrong. Some of them are rich. There are ten things they’re not telling you, but which …

It’s really hard to make money in the stock market

Wall Street Physician, MD

Finance

September 24, 2018

No, I’m not saying that the process of investing in index funds is difficult. In fact, it’s actually quite simple to build a diversified index portfolio, whether your money is invested at Vanguard, Fidelity, Schwab, or Etrade.

What makes investing in the stock market so difficult is tolerating its high volatility. Many investors are unable to stick with the stock market in the long run because of the ups and downs.

But those who stay invested …

10 financial tips for physician maternity leave

The Frugal Physician

Finance

September 22, 2018

Let’s be real here. Women make babies. Women also kick butt working. Sometimes women need to make babies while kicking butt working. So, you know, the human race can survive … no big deal. But, all too often, families are unfairly burdened by our dismal maternity support system. Bleary-eyed and bloody, new mamas emerge from childbirth facing a mountain of medical bills and no income.

For my first pregnancy, my family …

Why doctors can’t take sick days

Lisa Sieczkowski, MD

Physician

September 21, 2018

I learn all manner of interesting things from the information sheets posted on the walls of the employee bathrooms at my hospital. I learn, for example, about upcoming CME offerings for advance practice providers, how many seconds one has to scrub the hub of a central line, and what the new process is when nurses need to call in sick. They call a specific phone number and state that they …

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Why doctors can’t take sick days

Stop the money-shaming in medicine

James M. Dahle, MD

Finance

September 18, 2018

There is a taboo in medicine. It is becoming less prominent, but it still exists. You’re not supposed to talk about money. Not how much something costs a patient, not how much you get paid, not how you invest, and certainly not about the freedom from medicine that financial independence can bring.

This first shows up as you are applying to medical school. You don’t want anyone writing a …

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Stop the money-shaming in medicine

It’s time to upgrade the outdated intake forms at health care clinics

Koorosh Joshua Elihu, MD

Physician

September 16, 2018

The process of setting up a new pain management clinic has allowed me to critically consider the role of patient intake forms, an area that has traditionally been ignored by technological advances and institutional innovation.

Health care must empower patients to conveniently complete intake forms digitally — whether at home, en-route to our clinics, or in our waiting rooms. When done correctly, the forms can greatly enhance the patient …

6 things wrong with hospital medicine

David M. Mitchell, MD, PhD

Physician

September 10, 2018

In 2002, when I began my first hospitalist job, I was a dyed-in-the-wool hospital medicine convert, convinced that the transfer of inpatient care to true specialists in hospital medicine (hospitalists) would dramatically improve the quality and efficiency of inpatient care, increase patient satisfaction and decrease costs.

By 2008, I had developed serious doubts, which prompted me to publish an editorial in the Journal of Hospital Medicine, entitled “The Expanding or Shrinking …

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6 things wrong with hospital medicine

A physician’s return to the ivory tower

Side Hustle Scrubs, MD

Physician

September 9, 2018

I started internship July 1, 2008, as a terrified 25-year-old blank slate. Most days started with a combination of nausea and dread as I pumped myself up in the resident parking lot — conveniently located a mere 1/2 mile from the entrance to the ivory tower I called home.

The days were long. The nights were longer. Every month I had the chance to be a brand new idiot as a …

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A physician’s return to the ivory tower

The effect of private equity in medicine

Thomas Black, MD

Physician

September 4, 2018

The landscape of health care has changed nearly beyond recognition in the past decade. If you’re a veteran of the profession, you’ve seen the other side of things — you once had the chance to live the dream, to swim in the pool of autonomy and self-employment, to call the shots and act on behalf of the patient without the constant supervision of bureaucracy. If you are new to the …

These are the stories of how physicians are bullied

Rosalind Kaplan, MD

Physician

September 3, 2018

Nobody punched me in the face. Maybe I would have preferred being punched in the face, though. And yes, I was bullied. I’m not going to talk about my own experience in this post however, because I already have post-traumatic stress disorder from the experience. I’m not ready to revisit it in detail yet.

I don’t need to talk about myself to tell you about bullying in the medical arena. I …

We’re doctors, but we’re humans too

Elham Raker, MD

Physician

September 2, 2018

We are human, we are not indestructible. We have feelings and emotions that can get hurt, probably more than the average person based on the careers we have chosen. Yes, we will pass up on our well-being (such as sleep, hygiene, exercise, relationships with family and friends) to be there for our patients. To receive our critical training to be able to care for others. This is our sacrifice, and …

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We’re doctors, but we’re humans too

Why this physician quit her job

Uchenna Umeh, MD

Physician

August 31, 2018

So last week, I did the bravest thing I have done in a very long time — I quit my job. Yes, I put in my 60-day notice. This was my dream job post service in the U.S. Air Force. I had dreamed of working in this establishment for months before my service time was up. I could not have been happier when I joined their team, a group practice …

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Why this physician quit her job