Financial Residency

The Fed will meet again at the beginning of November. Are rates expected to go down? Are we entering a recession? Doug gives his thoughts on rates in the near future and through next year. He talks about making big purchases and making sure you don't overextend yourself. To learn more about Doug Crouse or to get a free copy of his book, go to www.DougCrouse.com.

Dr. Sunana Sohi shares her very unique passion that helps her relax when outside of the GI suite. It helped her through Covid and binds her family together through this special type of play. You can see her perform by following her on Instagram @SunanaSohi.MD.

This summary discusses the Collections Compensation Model, commonly used in private practice medical settings to determine physician remuneration. In this model, rather than being paid upon production (like in the RVU model), physicians are compensated based on when the service is reimbursed to the practice. There can be many variations to this model, such as a base salary with a percentage of net collections beyond a threshold or simply receiving a percentage of all net collections. Another variation involves taking home the collections after overhead costs have been settled. It's crucial to negotiate effectively under this model and understand opportunities for increasing collections or decreasing overhead costs. The system encourages practice efficiency, but one must also consider situations when collections are generated when the physician isn't present. LINKS: www.ContractDiagnostics.com

The article discusses how hospitals are dropping Medicare Advantage due to delays in government payments. Scripps, a major player in California, has already dropped a significant portion of Medicare Advantage, resulting in 30,000 seniors losing their coverage. This can create challenges for employers in maximizing staff and maintaining profitability. Physicians who work with Medicare Advantage should communicate with their employers to understand how it might impact their practice. If you have questions or need assistance, Contract Diagnostics can help analyze your situation and provide guidance. LINKS: www.ContractDiagnostics.com

Welcome to "Finance For Physicians," the podcast that helps doctors live their lives on their own terms. In this episode, we dive into the world of orthopedics with Dr. Daniel Paull, the founder of Easy Orthopedics in Colorado Springs. Dr. Paull's unique practice challenges the status quo and positively disrupts the traditional healthcare system. Join us as we uncover the distinct features of Dr. Paull's practice, delve into his journey of building an innovative model, and discover how it benefits both physicians and patients. We'll explore his emphasis on honesty, patient care, and transparent pricing, which sets his practice apart. You'll walk away with these takeaways: - The power of challenging the status quo - Prioritizing patient care - Transparent pricing and relationship-based care - The impact of a modest lifestyle on entrepreneurship - The direct care model's advantages Tune in to this inspiring conversation with Dr. Daniel Paull as we dive into his disruptive approach to orthopedics and gain insights that can motivate and inform listeners who are passionate about challenging the healthcare system. Don't miss out on this opportunity to explore how one doctor was able to break away from the system and practice medicine the way he knew to be correct. Links Connect with Dr. Paull on his LinkedIn: https://www.linkedin.com/in/easyorthopedics/ Easy Orthopedics Connect with me on my LinkedIn: https://www.linkedin.com/in/danielwrenne/ Contact Finance for Physicians Finance for Physicians To schedule a call with one of our awesome planners, book HERE.

Contract Diagnostics is a company that works with physicians who serve underserved areas, particularly in rural hospitals. The company understands that rural hospitals may not be the most profitable for larger healthcare systems, leading to cutbacks and operational changes. Contract Diagnostics aims to help physicians navigate these changes by reviewing their contracts and providing assistance. They offer free 15-minute inquiry calls to understand each individual's situation and provide support. They are committed to being a trustworthy resource and providing guidance during challenging times in the ever-changing healthcare landscape. LINKS: www.ContractDiagnostics.com

Doug talks today about some changes Fannie Mae is making soon regarding loan limits for conforming loans. Fannie Mae is also making some positive changes for buyers who want a multi-family property (duplex, triplex or four-plex) in which they also plan to live. If you would like to get a free copy of Doug's book Hippocratic House: Do No Harm When Purchasing Your First Physician Home, go to www.HippocraticHouse.com.

Dr. Mitch Li is an emergency room physician who started www.TakeMedicineBack.org to help physicians fight against the corporatization of medicine. His group is working with physicians, attorneys, medical societies, and lawmakers to enforce laws already on the books to prohibit the corporate ownership of medical practices, thereby giving physicians the autonomy to work in the best interest of their patients.

Today Jon discusses the impact of artificial intelligence (AI) on various industries, including healthcare. He mentions using AI for tasks like generating ideas and conducting travel research. In healthcare, AI is expected to play a significant role in areas like radiology and pathology, where it can improve efficiency and accuracy. The speaker believes that AI will bring changes to how medical professionals diagnose and treat patients, as well as how research is conducted and medications are approved. However, he emphasizes the importance of human involvement and personal care in healthcare and contract analysis. He encourages professionals to embrace technology while recognizing the value they bring to their respective fields. LINKS: www.ContractDiagnostics.com

values conflict as a major issue for physicians in the healthcare system. This conflict arises when the system's requirements and expectations clash with a physician's personal or professional values. For example, a doctor may believe that spending more time with patients is essential for quality care, but the system limits their time with each patient. This conflict can lead to burnout and moral injury, as the physician feels they are unable to provide the care they believe is necessary. The values conflict also extends to the balance between professional and personal life, with doctors often feeling pressure to prioritize work over family or personal responsibilities. Addressing this values conflict is crucial for improving the healthcare system and reducing burnout among physicians. By supporting and empowering physicians to align their practice with their values, the system can improve satisfaction and patient care. This can be achieved through changes in the system, such as allowing more flexibility in scheduling or implementing models like direct primary care that give doctors more control over their practice. Additionally, financial independence can provide doctors with the freedom to make choices that align with their values without fear of economic repercussions. Overall, having a system that respects and supports physicians' values. Links Connect with me on my LinkedIn Contact Finance for Physicians Finance for Physicians To schedule a call with one of our awesome planners, book HERE.