Financial Residency

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, Daniel Wrenne talks about saving money to avoid the COVID-19 forbearance lifestyle creep. Topics Discussed: • COVID Forbearance: No payments, no interest on student loans until Aug. 31 • Good news? Yes, for PSLF, but what are people doing with the money? • Average American Person: Temptation is to spend all or more money in pocket • Consumption Effect and Awareness: Student loan payments will begin again LINKS: www.WrenneFinancial.com

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 physician marketplace. Jon explores the complexities faced by physicians in choosing between employment with large entities, joining private practices, or pursuing independent contractor opportunities. He emphasizes the importance of considering individual preferences, long-term goals, and compensation packages when evaluating employment options. While Jon acknowledges the uncertainty surrounding the future of physician employment and the potential impact of lawsuits and regulatory scrutiny, he encourages physicians to explore diverse opportunities and exercise negotiating power in contract discussions. Ultimately, Jon emphasizes the need for thorough due diligence and contract review to ensure alignment with personal and professional objectives. As the healthcare landscape continues to evolve, Contract Diagnostics remains committed to supporting physicians in navigating employment decisions and advocating for their best interests. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com Article : https://www.beckersasc.com/asc-news/the-race-to-acquire-physicians.html

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 efficiency in healthcare settings, they may lack the personalized approach and nuanced understanding required for complex medical decisions. Contract Diagnostics, represented by Jon, stresses the importance of considering individual patient and physician stories, asserting that while AI can enhance productivity, it should not replace human judgment in medical care. Looking ahead to 2024 and 2025, the article anticipates significant advancements in the integration of artificial intelligence in healthcare while maintaining the essential role of human expertise and empathy in patient care. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

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 mortgage rate is crucial, the choice of agent can significantly impact the overall cost of buying a home. He cautions against hastily choosing an agent based on referrals alone and highlights how a skilled agent can save buyers more money than simply securing the best interest rate. Doug warns against emotional decisions in home buying, stressing the importance of ensuring that the chosen house is worth its market value and that buyers have the necessary funds to cover any discrepancies. He anticipates a highly competitive buying season ahead and underscores the long-term impact of selecting the right agent, as opposed to the temporary commitment of a mortgage interest rate. Doug encourages thorough research, seeking feedback from previous clients, and advises on how to contact him for further assistance. You can reach out to Doug to set up an appointment through email at Doug.Crouse@BMO.com or text him at 1-862-375-6267 (1-862-DR-LOANS).

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 Physician Summit April 7-10 in Las Vegas where there will be 20 CME about locums strategies, direct contracting, creative income options, business and tax planning, and more. You can also go to www.FlexMedStaff.com for online resources to help you navigate information and opportunities to be successful as an independent contractor.

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 fire your financial advisor. In this episode of the Finance For Physicians Podcast, Daniel Wrenne talks to Dr. Jim Dahle, a practicing emergency room physician and founder of The White Coat Investor, and Alan Moore, co-founder and CEO of the XY Planning Network about DIY financial planning versus hiring a financial advisor to help. Topics Discussed: • Making and Managing Money: Decide to hire help or do-it-yourself (DIY)? • Seeking financial advice: Stigma, status symbol, or too busy • Should a good advisor be saving you time and money? Good advice at fair price • Getting stuff done: Do you struggle to get those not so fun financial tasks done? • Mental energy: Are you fried and dreading financial chores? • Therapy and Financial Advice: Why financial planning often intertwines the two • Best and Worst Advisors: Compensation, commission, fee, CFP®, fiduciary? • Are you working with a broker or insurance agent posing as a "financial advisor"? • Conflict of Interest: Get a second opinion when pitched permanent life insurance • Financial Advice Future: Financial planning as a profession LINKS: www.WrenneFinancial.com

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 into lemonade. In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks to Laura Yost, who is married to an internal medicine physician. They have four children. The youngest, Scarlett, has Down's Syndrome. Topics Discussed: • Lemonade Stand: Where teamwork and kind people give back to the community • Blessing or cross to bear? Biggest challenge is lack of support, misconceptions • Step in the right direction? Only willing to go where Scarlett's welcomed, wanted • Before and After: Reality of what it means to have a child with Down syndrome • Guilty: Parents blame themselves for allowing their child to have Down syndrome • Healthwise: 50% of babies with Down syndrome have a heart defect, not Scarlett • Learn to Exist: What do I do and how do I do it to help my child live their best life • The Lucky Few: Scarlett is a gift, treat her that way and not as a burden • Growth Mindset: No pressure to be perfect; learn to do your best, make progress • Money doesn't buy happiness, but makes life better and easier up to a point • Inclusion: Best education for kids with disabilities and their same-age peers LINKS: www.WrenneFinancial.com

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 compensation mistakes for physicians. He underscores the seriousness of fair market value and compliance with regulations in physician contracts, urging physicians to ensure clarity and fairness in their agreements. Jon encourages professionals to consult Contract Diagnostics for expert analysis and negotiation support regarding compensation structures and contract terms. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

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 in their employment contracts compared to RNs. He also touches on the variation in salaries across different states and encourages individuals engaged in contract discussions to leverage Contract Diagnostics' expertise for maximizing compensation packages and understanding the contracting process. Jon invites individuals to contact Contract Diagnostics through phone, chat, or email for personalized assistance, visit www.ContractDiagnostics.com

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 credit for errors or fraudulent activity. Doug encourages listeners to utilize free credit reports to safeguard against identity theft and ensure financial well-being. You can reach out to Doug to set up an appointment through email at Doug.Crouse@BMO.com or text him at 1-862-375-6267 (1-862-DR-LOANS).