Financial Residency

This episode is also sponsored by PearsonRavitz – helping physicians protect their most valuable assets.  In early Q1 of 2024, physicians often receive updates or changes to their compensation, typically in the form of addendums to their contracts. These changes may be related to fiscal budgets, CMS regulations, or simply the timing of the year. It's crucial not to hastily sign any addendum withou...

This episode is also sponsored by PearsonRavitz – helping physicians protect their most valuable assets.  Going on a medical mission trip is a noble thing that many physicians and other health professionals do each year, but many people don't realize that going on those trips is usually an out-of-pocket expense to the physician for thousands of dollars. It also means time away from work and family...

This episode is sponsored by  Resolve . A physician contract review and compensation data company bringing change to physician contracts. Do you love to save on your taxes? One of the most overlooked or common mistakes is the failure to maximize tax breaks that are available to physicians.   In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks about five of the most overlooke...

This episode is sponsored by  Resolve . A physician contract review and compensation data company bringing change to physician contracts. Go with eyes wide open or be in for a major financial surprise when your children start college. In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks about you or your children funding their education.  Topics Discussed: • Who should pay fo...

This episode is also sponsored by PearsonRavitz – helping physicians protect their most valuable assets.  Jon from Contract Diagnostics discusses the lowest paying specialties in medicine based on 2023 data. He highlights public health and preventive medicine, pediatrics, family medicine, infectious disease, and endocrinology as the lowest five, with salaries ranging from $249,000 to $267,000 annu...

This episode is also sponsored by PearsonRavitz – helping physicians protect their most valuable assets.  Jon from Contract Diagnostics discusses signing bonuses in healthcare, citing an article revealing average bonuses across various professions. While physicians top the list with an average of $47,993, other roles like pharmacists and optometrists also receive significant bonuses.  Jon emphasiz...

This episode is also sponsored by PearsonRavitz – helping physicians protect their most valuable assets.  Today on the Mortgage Minute, Doug Crouse from BMO Bank warns about mortgage scams targeting recent homebuyers. He cautions against overpriced services offering copies of deed records and emphasizes that such documents can be obtained independently.  Additionally, he highlights the prevalence...

This episode is also sponsored by PearsonRavitz – helping physicians protect their most valuable assets.  Match & Graduation Season is almost here, which means we will have many doctors looking for a new home.  Doug Crouse with BMO Bank joins us today to explain what makes a physician loan different from other types of loans, discuss the importance of choosing a lender and realtor, caution about p...

The article discusses the unionization of 1300 medical residents and fellows at Northwestern University, reflecting a growing trend in collective action within the medical field. Jon from Contract Diagnostics shares insights on the importance of group negotiation and reevaluating compensation structures. While acknowledging the benefits of unions, he emphasizes that collective action can be pursue...

This episode is sponsored by  Resolve . A physician contract review and compensation data company bringing change to physician contracts. For 10% off, add FR10 when you sign up! What's your perspective on money? Do you view it as a tool? Do you know how to use that tool? Is it like a hammer that you use to build a house, murder somebody, or that sits on the shelf and collects dust? In this episode...

This episode is sponsored by  Resolve . A physician contract review and compensation data company bringing change to physician contracts. For 10% off, add FR10 when you sign up! If you are employed and work for a hospital system or plan to work for one in the future, do you have access to a 401(k), 403(b), and/or 457(b) retirement plans?    In this episode of the Finance for Physicians Podcast, Da...

Jon from Contract Diagnostics highlights the 2024 Medicare fee schedule, revealing a 1.5% decline in overall reimbursements due to a 3.4% cut in the conversion factor from CMS. The impact varies based on contract structure, employer policies, patient demographics, and payment models. Despite limited influence, understanding these changes is crucial for physicians and hospitals striving to maintain...

This episode is sponsored by  Resolve . A physician contract review and compensation data company bringing change to physician contracts. For 10% off, add FR10 when you sign up! Today Doug Crouse of BMO Bank discusses the differences between buying a new build and a resale home. While the processes are similar, new builds come with uncertainties such as fluctuating completion dates and potential r...

This episode is sponsored by  Resolve . A physician contract review and compensation data company bringing change to physician contracts. For 10% off, add FR10 when you sign up! Dr. Dominick Corrigan founded Physicians Anonymous to help physicians who are somewhere along the spectrum between burnout and depression all the way to suicidal. His organization provides free, anonymous peer support.  He...

This episode is sponsored by  Resolve . A physician contract review and compensation data company bringing change to physician contracts. For 10% off, add FR10 when you sign up! Are you looking for another job, or are recruiters seeking you out for opportunities? If you were offered a different job, would you think about taking it? Why, or why not? There's a lot to consider. In this episode of the...

This episode is sponsored by  Resolve . A physician contract review and compensation data company bringing change to physician contracts. For 10% off, add FR10 when you sign up! Are you struggling with the temptation related to student loan perks? What are the intended consequences of student loans and associated COVID forbearance programs?   In this episode of the Finance for Physicians Podcast,...

In the article titled "The Race to Acquire Physicians," Jon from Contract Diagnostics discusses the implications of the growing demand for physicians and the challenges surrounding their employment. He highlights the ongoing mismatch between physician supply and patient care needs, noting the increasing consolidation of healthcare organizations and the potential legal ramifications of monopolizing...

The Wall Street Journal article discusses the potential of chatbots for medical advice, highlighting their benefits such as aiding in initial assessments of x-rays, pathology reports, and lab values.  However, it emphasizes the necessity for human oversight to ensure accuracy and to avoid overlooking critical details. While chatbots hold promise for streamlining administrative tasks and improving...

This episode is sponsored by  Resolve . A physician contract review and compensation data company bringing change to physician contracts. For 10% off, add FR10 when you sign up! In this segment of "The Mortgage Minute" with Doug Crouse from BMO Bank, the focus is on the importance of selecting the right real estate agent when purchasing a home.  Doug emphasizes that while securing a favorable mort...

This episode is sponsored by  Resolve . A physician contract review and compensation data company bringing change to physician contracts. For 10% off, add FR10 when you sign up! Many physicians are interested in contracting independently versus continuing as an employed physician, but don't know where to start. Dr. Corinne Rao and Dr. Holly Shen share information about the Flex Med Staff 2024 Phys...

This episode is sponsored by  Resolve . A physician contract review and compensation data company bringing change to physician contracts. For 10% off, add FR10 when you sign up! Are you a physician tired of getting ripped off and wanting a fair shake on Wall Street? Rather than getting mad, understand how the financial services industry works. Do the right thing by knowing when and why to hire or...

This episode is sponsored by  Resolve . A physician contract review and compensation data company bringing change to physician contracts. For 10% off, add FR10 when you sign up! How do you plan for a child who has a disability? Overcome the initial fear and concern for the unknown and focus on the positive blessing they are to your family. Learn to live a fuller and richer life by turning lemons i...

In this segment, Jon from Contract Diagnostics reflects on a significant error regarding disability insurance and emphasizes the importance of seeking professional advice. He clarifies misunderstandings about disability policies and acknowledges the necessity of expert guidance. Jon then discusses a case involving an Indianapolis-based health system that faced a $345 million settlement due to comp...

In this discussion, Jon from Contract Diagnostics explores the current landscape of salaries for nurse practitioners (NPs), physician assistants (PAs), and registered nurses (RNs). He highlights the growing wage trends and the differences in compensation among these roles, citing average annual salaries and hourly rates. Jon emphasizes the negotiating capital that NPs, PAs, and physicians possess...

This episode is sponsored by  Resolve . A physician contract review and compensation data company bringing change to physician contracts. For 10% off, add FR10 when you sign up! In this episode Doug Crouse urges listeners to check their free credit reports regularly. He highlights a case where a borrower with assumed 800 credit scores discovered issues, emphasizing the importance of monitoring cre...