MEC Practice Academy 11.19

Lifestyle

Modern, private pension plans are similar to the good old pension plans of yesteryear in the fact that they pay you an income for life. The advantage of the modern private pension plan is that almost any physician can easily set one up.

Since there are few medical conditions for which there is usually one and only one drug treatment, patients should understand the trade-offs involved with using one drug versus another and should engage their doctors in a process of shared decision making.

Electronic Medical Records aren't considered medical devices by government agencies. If they were, the products currently on the market might have trouble getting approved.

Picture this, imagine this. You just started a new position. You are so excited! You HATED the last job with a passion. You couldn't wait to leave. You're whistling and humming. You are so happy! You go to check the mailbox- see a letter addressed to you. You open it up. WHAM! It hits you like a freight train. A bill for $184,000.

A new survey show physicians are among the highest paid professionals in the US. However, high pay doesn't always translate into high job satisfaction.

Technology has created a major culture and communication gap between older and younger practitioners, and sometimes between practitioners and patients. As practices change hands, careful planning can smooth the generational transition and improve patient care.

A Game of Risk

When most people think of investing, they think of buying stocks or setting money aside in an environment account. However, there are a number of less-common, and riskier, investment vehicles you might consider.

When many people think of working with a financial advisor, they think of millionaires, inheritors, or lottery winners. But financial advisors aren't just for the very rich.

Pensions Are Back!

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Pensions have just about disappeared. However, the benefits of a pension are still attainable.

One of the key obstacles to a good saving and investing strategy is accumulated debt. Debt can impact healthcare professionals of all ages and at all stages in their careers.

You can tell how much you are innovating by the quality and quantity of the enemies you make. Some will try to run you over and others will take shots from under cover 1,000 yards away.

Transitioning to ICD-10 is far from inexpensive. A look at the average cost of the transition tops this week's PMD Critical List. Also on the list: A look at physician pay relative to other professions, and new data on the diversity of the nation's medical students.