Insurance Coverage Every Private Practice NeedsWhen 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.
The Tax Cuts and Jobs ActThe 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 tax break.Let’s
Doctors Get Paid Best in Rural Areas and Lower-Cost Cities“I’d be a bum on the street with a tin cup if markets were efficient.” – Warren BuffettDoctors 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
What If You Lose a Partner or Key Person?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
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
Is Your Medical Specialty Among the Top Earners?Want to know what your fellow docs are getting paid? The 2016 Medscape Physician Compensation Report is out. Here are some of the key findings:The five specialties that are among the top earners are as follows:Orthopedics: $443,000Cardiology:
Student Loan Management Tips For Young DoctorsMedical school pays off big for the vast majority of doctors who stay in medicine for their entire careers. But that doesn’t mean that medical school debt and student loan balances are fun. According to the New American Education Policy Program, the
How does your state rank when it comes to opportunities, risk and financial stability specifically for doctors? First of all, let’s think about the things that doctors tend to have in common:Doctors are entrepreneurial. They are either in private practice or would like to have a private practice