Medics Money podcast

Contact BW Healthcare Surveyors today --> https://medicsmoney.co.uk/rent/ PocketSmith is proud to sponsor this episode of Medics Money. If you want clarity and confidence in managing your money, plus 50% off your first two months of PocketSmith, head to: https://www.pocketsmith.com/medics-money/ This conversation delves into the complexities of funding in healthcare practices, highlighting the significant impact of underfunding on reimbursement rates and the financial health of these practices. It explores the challenges faced by healthcare providers in securing adequate funding and offers strategies for navigating these issues effectively.   Want the latest financial tips for doctors and exclusive invites? Join 64,000 doctors here https://www.medicsmoney.co.uk/join-medics-money/ Want a free assessment of your finances? Click here https://medics-hnz5twj1.scoreapp.com Want to improve your finances fast? Then come on our course https://www.medicsmoney.co.uk/medics-money-financial-wellbeing-course/ GP partner looking to improve your practice/ Then come on our course https://www.medicsmoney.co.uk/gp-partnership-programme/ Follow us on Instagram Follow us on Twitter Disclaimer: The information provided in this content is for educational and informational purposes only and does not constitute financial advice. You should not rely on this content as a substitute for professional advice tailored to your specific financial situation. The value of your investments can go down as well as up. Past performance is not indicative of future results.

Dr. Jonathan Hanson, a consultant in sport and exercise medicine and former team doctor for elite sports, shares insights from a vibrant career. He discusses the importance of mentorship and specialized training in sports medicine. Notably, he recounts his role in developing a national concussion policy in Scotland. Jonathan emphasizes the value of early financial education for medical professionals, detailing his investment journey and the transition to passive investing. He wraps up with essential advice for new doctors on managing both their careers and finances.

Dr. Tony Goldstone, a radiologist and pensions modeller, dives into the intricacies of NHS pensions and the dreaded annual allowance tax bills. He introduces a new web-based tool designed to demystify pension calculations and tax liabilities for healthcare professionals. The conversation uncovers the complexities behind defined benefit schemes, the £100k tax trap affecting take-home pay, and the perils of employer errors in pay allocation. Listeners learn about proactive strategies to manage their pensions effectively and navigate potential tax traps.

Ian Crompton, a seasoned healthcare finance expert and former Lloyds Bank executive, shares vital financial insights for medical professionals. He tackles common pitfalls like surgery valuations, the effects of rising interest rates, and the intricacies of ownership and succession planning. Ian emphasizes the importance of expert advice, especially regarding the risks of inheriting loans and navigating bank requirements. He concludes with key strategies to ensure smart financial decision-making for long-term stability in practice.

Free live financial training  https://medicsmoney.co.uk/live/   PocketSmith is proud to sponsor this episode of Medics Money. If you want clarity and confidence in managing your money, plus 50% off your first two months of PocketSmith, head to: https://www.pocketsmith.com/medics-money/ In this episode of the Medics' Money podcast, the team discusses their 2025 financial resolutions and sets new ones for 2026. With contributions from Dr. Tommy Perkins, Andy Pow, Dr. Ed Cantelo, Matthew, and Dr Cyra Mackintosh, they reflect on their successes and challenges over the past year. Andy shares the success of starting a new business, while Cyra discusses the challenges of maintaining savings and planning for a new baby. Dr. Tommy Perkins talks about his physical recovery, despite not meeting his resolution fully. The episode also delves into the importance of ethical investing and accurately managing pension records, offering valuable insights and advice for doctors and other professionals looking to improve their financial well-being in the coming year. The podcast ends with a reminder of upcoming live events in January to help structure and improve finances for 2026. 00:00 Introduction and Upcoming Events 00:51 Team Introductions and 2025 Resolutions Recap 02:25 Tommy's 2025 Resolution and Future Plans 07:57 Andy's 2025 Resolution and New Business 10:51 Cyra's 2025 Resolution and Personal Updates 13:48 Matthew's 2025 Resolution and Financial Plans 15:51 Ed's 2025 Resolution and Pension Focus 22:47 Final Thoughts and Upcoming Live Sessions

PocketSmith is proud to sponsor this episode of Medics Money. If you want clarity and confidence in managing your money, plus 50% off your first two months of PocketSmith, head to: https://www.pocketsmith.com/medics-money/   In the penultimate episode of the Medics' Money Podcast for 2025, hosts Dr. Tommy Perkins and Dr. Ed Cantelo, along with team members Cyra, Andy, and Matthew, celebrate a successful year and engage in their annual end-of-year quiz. The quiz features a mix of questions about the team, financial achievements, and UK tax trivia, exploring topics like fiscal drag, VAT rates, and historical taxes. The team recalls their best moments of 2025, including record numbers of doctors assisted and popular YouTube videos. They also discuss significant changes in ISA limits set for April 2027. The episode wraps up with a thank you to their listeners for their continued support, along with wishes for a happy holiday season. 00:00 Welcome to the Medics' Money End of Year Quiz! 00:31 Meet the Team 02:28 Quiz Round 1: Medics Money Achievements 10:15 Quiz Round 2: Pet-Themed Fun 14:41 Quiz Round 3: Fiscal Drag and Finances 20:01 Reflecting on Fiscal Drag and Inflation 20:40 Investing in 2025: Navigating AI Bubbles and Market Volatility 23:36 Understanding Stock Market Volatility 26:33 ISA Limits and Government Policies 31:55 Tax Trivia: Unusual Historical Taxes 35:20 VAT Rates and Peculiarities 38:09 HMRC Excuses and Tax Return Deadlines 40:39 Wrapping Up: Medics' Money's Year in Review

In this episode of the Medics Money podcast, Tommy interviews Angus Perry, a GP with a passion for integrating technology and lifestyle medicine into healthcare. Angus discusses his journey from being a GP to founding GeneralPractice.ai, a platform designed to create personalised management plans for chronic conditions and promote lifestyle changes. The conversation explores the challenges of implementing lifestyle medicine in a time-constrained environment, the importance of patient engagement, and the role of technology in modern healthcare. Angus shares insights on building a minimal viable product, the significance of passion in entrepreneurial endeavours, and offers advice for young clinicians looking to future-proof their careers in an evolving medical landscape. Chapters 00:00 Introduction to Angus Perry and His Journey 02:32 The Importance of Lifestyle Medicine in General Practice 05:23 Challenges in Implementing Lifestyle Changes 08:05 Building a Solution: GeneralPractice.ai 10:45 The Mechanics of Creating a Health Tech Startup 13:38 How GeneralPractice.ai Works for Patients and Clinicians 16:26 The Role of Gamification in Health Management 18:59 Advice for Young Doctors and Future Trends in Medicine

Explore the complexities of UK student loans as experts break down the differences between Plan 2 and the newly introduced Plan 5. Learn how these plans affect repayments, interest rates, and the financial future of new doctors. Discover whether student loans resemble a graduate tax rather than a standard loan. The discussion delves into the real costs of education, the burden on students, and the vital need for evaluating loan necessity. Finally, they tackle the value of degrees and the implications of recent university strikes on student finances.

In this episode, Dr Kurar discusses the pressures faced by NHS doctors and the steps they can take to transition from clinical medicine to industry roles. Dr Kurar outlines the importance of financial education, the power of LinkedIn for networking, and the various transferable skills doctors possess. Additionally, they share personal experiences, including setting up a property investment venture and optimising company pension schemes. The conversation provides a comprehensive guide for doctors contemplating a career change, emphasising the significance of planning, LinkedIn optimisation, and leveraging existing skill sets.   00:00 Introduction: Transitioning from NHS to Industry   01:05 Dr Kurar's Background and Motivation   01:12 The Role of Financial Education   01:58 Discovering the Podcast and Initial Steps   02:42 Current Role in Regulatory Space   03:58 Maintaining Clinical Work and Side Hustles   04:41 Steps to Transition from NHS to Industry   06:41 Leveraging LinkedIn for Career Transition   11:28 Transferable Skills for Doctors   13:12 Financial Aspects of Transitioning   16:12 Property Investment Journey   20:39 Concluding Thoughts and Advice

In this discussion, guest Andy Powell, a specialist medical accountant, breaks down the recent budget changes that impact healthcare professionals. He discusses the implications of frozen income tax thresholds and new rates for property, savings, and dividends. The conversation highlights the lack of changes to NHS pensions and warns of future caps on salary sacrifice. Listeners also learn about planned NHS spending on digital investments and new health centres, alongside changes in vehicle duties and council tax for luxury homes.