Insurance Coverage Every Private Practice Needs

Posted on: June 27, 2018 by Chuck Krugh, CFP

When a physician transitions from practicing as an employee to owning or being a partner/shareholder in his or her own private practice, the financial picture changes. A lot. As an employee, you’re sheltered from having to protect the business entity. You just need to worry about yourself and your own family. Once you own a […]

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What the Tax Cuts and Jobs Act Means for Doctors

Posted on: February 21, 2018 by Chuck Krugh, CFP

The Tax Cuts and Jobs Act – the sweeping tax reform signed into law in the closing days of 2017, contains a number of tax breaks. The majority of middle class taxpayers will receive a significant tax cut as a result of the law, though a few readers may find themselves with little or no […]

Posted in: Financial Planning Medical News Money Management Physician Money Management Practice Management

Study: Doctors Get Paid Best in Rural Areas and Lower-Cost Cities

Posted on: November 21, 2017 by Chuck Krugh, CFP

“I’d be a bum on the street with a tin cup if markets were efficient.” – Warren Buffett Doctors aren’t commodities – and neither are the markets they work in. That’s why there are big differences in compensation, even within the same city and within the same specialty. A recent survey from Doximity uncovered significant […]

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Study – Young Physicians Don’t Know Much About Money

Posted on: October 23, 2017 by Chuck Krugh, CFP

Unlike the great singer Sam Cooke, young doctors actually do know a lot about biology and the science book. Some of them even know something about the French they took. But they don’t know much about money. That’s not just us talking. That’s the result of a study recently published in the International Journal of […]

Posted in: Financial Planning Medical Residents Money Management Physician Money Management Practice Management Retirement Uncategorized

What If You Lose a Partner or Key Person?

Posted on: October 10, 2017 by Chuck Krugh, CFP

This could happen to you: You are a successful physician in private practice, living your dream. You have a terrific bunch of partners, and a skilled and diligent office manager who keeps the whole practice humming along. But early one morning you get a call from distraught family member: There’s been an accident. Your key […]

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Financial Tips for Young Doctors

Posted on: September 20, 2017 by Chuck Krugh, CFP

We’re always scouring the Web for good articles and studies about doctors and financial tips – and we were particularly pleased to come across this fine piece from Kevin Liu at KevinMD.com. Aiming his advice at young physicians who have just completed residency, or advanced fellowship training, and who are entering the attending physician phase […]

Posted in: Disability Insurance Doctor disability insurance Financial Planning healthcare Life Insurance Long Tem Care Insurance Medical Residents Money Management Physician Money Management physicians disability insurance Practice Management Retirement

Protecting the Small Medical Practice Against Disaster

Posted on: September 7, 2017 by Chuck Krugh, CFP

On top of the terrible human toll on individuals inflicted by disasters such as Hurricane Harvey – currently affecting millions in Texas and Louisiana – disasters take a terrible toll on small businesses as well: According to data from the Federal Emergency Management Agency (FEMA), some 40 percent of all small businesses shuttered by a […]

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First Year Residents Face Grueling 28-Hour Shifts

Posted on: April 10, 2017 by Chuck Krugh, CFP

Med students, get ready for some grueling shifts.  Beginning July 1st, doctors in their first year of practice will be allowed to work shifts up to 24 hours long in direct patient care in hospitals all over the United States. The move lifts the 16-hour limit that has been in place since 2011. The change […]

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Disability Among Medical Students Up To 9 Times Higher Than Previously Believed – And What It Means To Employers

Posted on: March 13, 2017 by Chuck Krugh, CFP

Recent research from the Journal of the American Medical Association (JAMA) indicates that there are far more people making it through medical school with disabilities than we imagined. Indeed, the number of students with disabilities of various sorts going through medical school may be as much as nine times what we believed previously. Researchers polled […]

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Beating Burnout

Posted on: February 10, 2017 by Chuck Krugh, CFP

Burnout is real – and it’s an increasingly common problem among doctors across the U.S. Physicians are being increasingly squeezed between tightening reimbursement rates, the demands of practice management, liability concerns, demanding schedules, regulatory burdens and the relentless onslaught of information. Patients can be difficult or uncooperative, or it could just be a matter of […]

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