Jeff Brown, MD, rarely uses cash anymore, which seems to be the direction all of society is heading. Not only is carrying cash potentially dangerous (vulnerable to crime or loss) but electronic transactions and bank apps are becoming more and more popular.
Seven principles to organize charitable giving - regardless of what the tax code may or may not incentivize - so prospective donors can make a difference while meeting their emotional need to help others.
It is absolutely essential for our children to understand the use, and misuse, of money so they can successfully function through their lives. The responsibility to teach these skills falls on parents.
Usually the bottom line regarding investing in art is don't. But there is money being made every day in the art market, even by investors of modest means.
A number of often overlooked costs make health information technology more costly than expected. Plus, a survey of hospitals revealed that only a minority of employees would want to receive treatment where they work.
The average Joe on the street and the average doctor are in disagreement about why health care is so expensive. Here are eight reasons for why the U.S. pays more for its health care and gets less than other developed nations.
Let's face it: dying is a social act and usually can't be done on the cheap. Death has enormous economic implications that reverberate throughout our lives and the lives of our loved ones.
Used car prices have risen far faster than new car prices since the recession, the direct costs of obesity in the U.S., slow adoption in the medical community and other interesting financial news you can use.
Many doctors have liability on the brain - in particular malpractice. But usually they carry a number of other insurances like auto, home and disability. The one that sometimes gets lost in the shuffle, but shouldn't, is a supplemental liability umbrella to cover all those other problems you never think about.
All physicians should consider a professional will that covers what to do at your practice in the event of an unforeseen death or disability: you won't like going to the trouble and you'll hope that you never need it, but all involved will be relieved if the necessity of its use arises.
Even if you no longer use a credit card, canceling it will drop you credit rating for one simple reason. Plus, a rule of thumb that can prevent you from sinking costs into a losing venture and more useful financial information.
The lack of informed "followership" can make moot the effort of putative leaders. And such a fractured network of rudderless health care leads to avoidable poor outcomes for our patients..
Historically, leadership positions in medicine have been filled too often as a soft landing for an end-of-career doctor or by the only doctor willing to take the job and do the work. We need to recognize the need for trained leaders but we cannot stop there.
The new cost of raising a child for 17 years, the truth about buying IPO stocks and why it's important for both spouses to be involved in financial planning.
One of the ongoing problems in health care is that there is no effective interaction between insurance companies and practicing physicians. None. At least, none at the policy level.
A number of factors have been pushing doctors to do things for patients that, absent such forces, we would not do.
At whatever financial level we pursue our life's aims, being realistic, organized, knowledgeable as well as aspirational will serve us and our families as well as possible.
The following tidbits are all interesting financial information that could help you in your investing, saving or purchasing, but weren't enough to warrant individual columns.
Part of the inertia in correcting the paperwork problem comes from most folks outside of medicine having only a dim awareness of how complicated, how obstructing and how expensive unnecessary paperwork is.
Post-death identity theft; social media habits of the wealthy; and one thing that makes it seem like saving twice for retirement.
People will tell you the most intimate details of their relationships and their medical problems, but they zip their lips when it comes to their finances.
There are apparent trends related to the election cycle that we might factor in to our financial decisions that could give some mild relief. Or add to our confusion, depending upon your point of view.
Seeking to tighten the budget? Get more out of your job? Find the approach to retirement planning?
To make a team approach really work in health care, there has to be a higher level of mutual respect among the team members than is being observed.
The ability to hire and manage top-notch staff is an important skill that doctors have no training for.
There's plenty of time spent on planning financially for retirement, but it's just as important to ensure you make the transition smoothly and cultivate some hobbies to occupy your time.
All too few people make the most of their physician encounter even though it's true that the average patient is doing a better job than they used to.
Some of the following financial recommendations from various financial experts may seem obvious and some obscure, but it all depends on where you are in your life.
More and more doctors are taking salaried positions rather than establishing independent practices, so they'll have to understand two key areas of the employee-employer relationship: leadership and income.
Today we plunge into the breach to try to make more of the tenuous bonds between medicine and business via some notable quotes.
