Sure you can pay off all your debt ASAP, but will you be happy?
Release Date: 07/02/2021
Coffee & Contracts - They Said No to Your Ask?
Financial Residency
Jon from Contract Diagnostics discusses the disparity in contract offers for physicians within the same organization but different divisions. He emphasizes the importance of clarifying decision-making processes and reasons behind rejections when negotiating compensation. Jon advises physicians to seek multiple offers, understand policies, and persist in negotiations to achieve favorable outcomes. He highlights Contract Diagnostics' role in providing data-driven guidance and support throughout the negotiation process. Jon invites individuals to contact Contract Diagnostics through phone,...
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Coffee & Contracts - FDA and AI
Financial Residency
Jon from Contract Diagnostics discusses the FDA's evolving role in regulating AI in healthcare. As AI-powered medical devices become more prevalent, the FDA must adapt its processes to ensure safety and efficacy. Jon highlights the potential impact of AI on physician workflows and suggests that employers will need to update policies accordingly. He emphasizes the importance of staying informed about AI advancements and encourages annual policy reviews. Jon is optimistic about AI's potential to enhance productivity in healthcare and invites further discussion on the topic. Jon invites...
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Grand Rounds - Real tips for physician wellness with Dr. Rebekah Bernard
Financial Residency
Dr. Bernard has literally written the book on physician wellness and shares her insights to help us find our love of medicine again while maintaining our own happiness and well-being. She advocates for physicians to have autonomy and control the things they can in their practice. She offers simple tips for running an efficient practice and setting limits on the time you allocate for work so that you have more time for yourself. She also promotes motivational interviewing to help patients become true partners in decision making and goal setting, which leads to more successful outcomes. You can...
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A Physician’s Guide to Wealth - Taking Extreme Ownership: The Key to Personal and Financial Success
Financial Residency
In this episode of the "Life Well Lived: A Physician's Guide to Wealth" podcast, host James Nutter discusses the importance of taking extreme ownership and full responsibility for one's life. He shares his personal journey of blaming others for his circumstances and how he learned to take control and liberate himself. James emphasizes that blaming external factors such as the government, the economy, or other people only hinders personal growth and financial success. He encourages listeners to reflect on their own lives and assess whether they are taking full responsibility for their outcomes....
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A Physician’s Guide to Wealth - Physician Employment Contract Hacks: The Most Critical Steps for Negotiating Your 2nd Contract as an Attending Physician
Financial Residency
Have you ever taken time to review your contract and negotiate terms that are favorable to both you and the team? Just like a pro athlete negotiates for the most favorable contract, you as a superstar physician can to. Every time you renew your contract, you have a chance to get a better deal, especially your 2nd contract as an attending after you’ve proven yourself as an invaluable asset to the team. In today’s episode, we are joined by Health Law Attorney Spencer Licktieg. You deserve to have the right tools and skills to get an equitable contract that aligns with your lifestyle, and...
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Coffee & Contracts - Hospital Closing
Financial Residency
Jon from Contract Diagnostics discusses the impact of hospital and clinic closures on employees, comparing the situation to retail franchise closures like Kmart or Bed Bath & Beyond. He highlights potential outcomes for physicians, such as reassignment or termination, based on the terms of employment contracts. Jon emphasizes the importance of understanding contract stipulations regarding termination pay, benefits, notice periods, non-compete clauses, and tail insurance. He advises healthcare professionals to be fully aware of their contract details at signing to prepare for possible...
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Coffee & Contracts - ACC recap
Financial Residency
Jon from Contract Diagnostics recently attended the American College of Cardiology's annual convention in Atlanta, a large and engaging event where he provided talks on contract renegotiation and changes in compensation structures post-pandemic, specifically for cardiologists. Amid the pleasant setting of Atlanta, Jon, joined by colleagues Anu, Jennifer, and Selena, enjoyed interacting with many cardiologists at their booth and during presentations. They addressed various concerns related to fair compensation, leveraging their experiences to offer tailored advice for...
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Mortgage Minute - Let's Talk About Appraisals for a Minute
Financial Residency
Appraisals are completed by an independent third-party provider so neither your realtor nor loan officer have any input over the value. They typically take 5-7 days once ordered by the bank, but Doug recommends putting in a 10 day appraisal contingency when writing your contract to purchase your home. You can only use comparable houses (comps) for those that closed before your home was inspected. You can reach Doug at [email protected] or go to .
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Grand Rounds - Determining short and long term goals to build a budget with Nate Reineke
Financial Residency
Budgeting can be a difficult task for physician families, especially when one spouse is a stickler for budgets and the other isn't. But Nate Reineke, CFP with Physician Family Financial Advisors, explains how couples can develop budgets in a nonconfrontational way by discussing their short and long term goals. He encourages families to pay off debt while saving for kids' college and/or retirement. And most importantly, he doesn't want physicians to miss out on enjoying their lives because they are so focused on saving for retirement. With a little forethought, there can be a happy balance...
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A Physician’s Guide to Wealth - Making Sense of Your Cents
Financial Residency
Ever felt overwhelmed about not knowing what you don’t know as it relates to money? Perhaps even a bit frustrated that of the hundreds of thousands of dollars you spent and countless hours in training, there was little to no real-world training about money? I have great news, if you’re reading this now, you’re here for a reason. And though your medical school or training program is unlikely to do anything about, we here at Financial Residency are here to help you make sense of your cents. Take the first step by tuning into this episode! Trying to qualify for PSLF and unsure if you’re...
info_outlineThis episode’s sponsor is LocumStory. Need a dash of motivation to start locums? Check them out at www.doctorpodcastnetwork.com/locumstory