Personal finance, income, investing, debt, financial independence, and all things money
Medical education is prohibitive, and costs are very high. More than 50%-70% of medical students in the U.S are already over-leveraged and in debt by the time they complete their medical education. Paying back medical … Read more
Medical institutions usually hire the services of many healthcare practitioners. All of these different employees serve different purposes, with the majority of them, if not all, interacting directly with patients. As they interact, they are … Read more
Not all ship doctors earn the same salary, and it may differ quite a bit with different cruise lines. Cruise ship jobs are advertised regularly and many of them include medical personnel that will join … Read more
Investing in cryptocurrency is an excellent way to diversify your investment portfolio and take advantage of the asymmetric risk-reward opportunity. In short, the blockchain is here to stay. Whether you’re a winner or loser in … Read more
What is Prior Authorization? Prior Authorization is also known as Prior certification or Prior Approval. It is the process of receiving pre-approval from an insurance company for a particular medication or a treatment process. The … Read more
“What gets measured, gets managed” Creating a financially secure future may appear challenging but the first step is to learn where you are now and where you want to be. This is not as easy … Read more
Physician mortgage loans (also known as doctor loans) have been specially designed with doctors in mind. Doctors often have a massive student loan debt. Plus, their work experience may not reflect their true earning potential, particularly the ones who have just finished their residency. Doctor loans help physicians get as much as $1 million from lenders based on their unique financial needs.
Medical board complaint refers to the process of registering a complaint against any medical practitioner. A patient can complain to the respective state medical council or boards for unprofessional conduct and inadequate care by a physician or healthcare provider. If the patient is covered by medicare, they can file a complaint directly to medicare.
In the United States, there is a significant difference in income between doctors and non-doctors. In fact, according to one study, the average physician makes $242,000 while the average American earns just over $48,000. When both spouses are physicians, this income gap continues to exist, but it may not be as significant. However, when only one spouse is a physician (and often they’re female), there is often an economic disparity that can potentially lead to marital stress and divorce.
When deciding to take a new job, many factors must be considered, such as the job title, job responsibilities, potential for future growth, benefits, and salary. A doctor could be looking for more work-life balance, or they may need to relocate their home and family, or an opportunity for advancement.
Doctorpreneurs are doctors who have turned their talents into entrepreneurship. With a medical degree, a doctor is best suited to run an entrepreneurial venture, especially one that deals with the health industry.
Physicians have a lot of opportunities to make money outside of the clinic. However, many physicians don’t know how to find these opportunities or even if they exist in the first place. That said, it does always come down to investing additional time or money.
For instance, some contracts forbid employees from practicing within the same geographic location, specialization, or through locum tenens and telemedicine. The feasibility depends on the parameters of the training program.
A 1031 exchange refers to Section 1031 of the U.S. Internal Revenue Code. A 1031 exchange allows real estate owners or investors to sell a property and then reinvest within a specific time limit to defer or dodge capital gains taxes.
“Medicare for All” is an aggregation of legislative proposals intended to provide health care coverage to every American through a federal single-payer health insurance program. The single-payer systems can be found worldwide and may vary by what benefits they offer, how they are funded, who is eligible, and more.
The rising healthcare cost is forcing consumers to delay medical treatment until they can afford it or sink them into massive debt. But now, there is an alternative option for the patient without insurance to … Read more
Rising health care costs have been a major concern among people in the US, and the surprise bills from out-of-network services are devastating. Consumers are surprised with expensive bills from providers who are not in their insurer’s network and whose care they did not request.
One of the toughest parts of getting started in consulting work is determining you fees. This article covers different fee structures and how to choose one. Don’t undervalue your expertise!
You don’t need a lawyer to review your employment contract. There are significant benefits to doing it yourself. This article explains why.
This article introduces some of the best startup incubators for doctors to move your idea in healthcare transformation to a successful business.
Takeaways, highlights, and musings from The Doctors Guide to Navigating a Financial Crisis.
The main principles of personal finance are the same for everyone. However, there are several unique features of personal finance for physicians that are worth being aware of.
Here are my recommendations for the best tools, programs, and platforms for building and running a website, whether you have a medical practice, side hustle, or blog.
There are a number of important differences between W-2 and 1099 physician jobs. Most of these aren’t unique to physicians; however, since both types of work are so common in our profession, it’s especially important for doctors to understand the differences.
One of the toughest questions faced by physicians when buying disability insurance is how much to get. This article covers how to determine the appropriate amount of disability insurance for doctors, given their unique personal and professional situations.
This article sheds some light on how physician salary may be linked with personality type.
Having a contract is important, especially if you are doing work as a 1099 worker. Here is a personal example of why. In this case, the client refused to pay me – the contractor.
Not every side hustle can be a passive source of income. In fact, most of them aren’t. But there are steps you can take to shift these side hustles from an active to passive.
Most early-career physicians are HENRYs (high earner, not rich yet). Here are 6 tips on how to make the most out of this situation.
Here are the combined survey results of popular physician salary surveys that were released earlier this year.
