From Human Opportunity Comes Good Fortune
November 2nd 2010The feel-good story of the Chilean miners rescue has wider significance to the financial world. Not just in the relative fortune the 33 miners will rake in from book and film offers, but in the way the blossoming of human opportunity can lead to financial success.
The Danger in Doctor Discounts
October 14th 2010It used to be that doctors waived or reduced fees for patients facing financial hardship simply out of compassion -- now the act requires a second thought. Something as simple as waiving a co-pay is prohibited today by a thicket of federal and state laws. Before you give in to the urge to do the right thing, consider this.
The "Rich": A Whole Different World
August 7th 2010The median family practitioner retires with a net worth of $2.5 million and the average cardiologist has $5.2 million. Although these numbers may qualify doctors as being "rich" among some people's perceptions, most physicians would say they sure don't feel or act rich.
Insurer Doctor Ratings and Physican Income
July 22nd 2010Doctors need to start thinking seriously about insurance company ratings and rankings, as our incomes and status will increasingly become hostage to them. History shows that attempting to bring incentives to bear on physicians to reduce costs or improve care often carries a high risk of backfiring.
The Benefits of Getting on Board a Non-Profit
July 9th 2010Non-profit organizations often need money, marketing advice and managerial shoring up, but what they really require is more advice and training at the board level. Being a non-profit board member is a unique position -- and one many physicians should consider.
Travel in Europe Is Expensive, No Matter the Rate of Exchange
June 17th 2010Travel in Europe is still very expensive -- though it has little to do with the rate of exchange. The dollar has strengthened against the euro in recent months, but money-exchange costs, credit-card fees, and the American urge to shop often wipe out any financial gain.
Using Debt as a Financial-Planning Tool -- Not a Last Resort
June 3rd 2010Many people use debt for immediate gratification, or to plug a leak in a sudden financial hole. But used properly, debt can be a strategic financial-planning tool. Dr. Brown offers up two examples of how his own financial advisor saved him money by helping him to use credit wisely.
Health Insurance Reform - The Morning After
April 1st 2010We had a seat at the healthcare reform table, but we were window dressing, not leaders. Now we must recognize, not only that life will go on, but that this bill is written in pencil. We must now assume our proper roles as the primary advocates for rational, efficient, and encompassing maximization of our patients', and the nation's, health.