The 5 secrets to setting boundaries at work
How physicians can be better medical leaders [PODCAST]
“A sad truth is this: Most everywhere, health care is a low-margin industry that lacks resources to invest in leadership development. Although our business’s central, sacred function is caring for our fellow human beings, many who move up in the health care hierarchy do so without possessing the so-called ‘soft …
A message to medical doctors who are unhappy with their careers [PODCAST]
“This is a message to any medical doctor who is unhappy with their career. The individual reasons for this dissatisfaction will vary. Whatever the issue, it is important to ask, ‘Is the problem correctable?’ If yes, then you must act and secure your happiness. If no, you must consider other options. One …
Hello, health care organization leader, are you listening?
I’m not an organizational leader, a member of the C-suite, a department chair, or a VP of anything. I’m a coach who guides physicians as they try to provide exceptional care and actually have a life. But I know a lot about setting goals, executing on priorities, and inspiring through vision statements.
Here’s the thing. This is not a successful long-term strategy:
- Tell exhausted clinicians and staff to “do more with …
How doctors think about financial independence is dead wrong
A rough career transition in 2019 followed by the pandemic highlighted how I was still financially tethered to my job — after 10 years of practicing as a subspecialty trained radiologist, saving, maxing out my retirement accounts, and investing in the stock market and in real estate. Looking around, I saw other physicians in a similar predicament. After years dedicated to rigorous training, we were still trapped by “golden handcuffs.” …
5 financial truths every resident needs to know
July 1st is here, which means it’s the start of a new residency year. For interns, things can be nerve-wracking and scary. You may wonder if you remember enough information from medical school and hope you arrive at the right place at the right time this week. For the senior residents like me, we are elated to be almost done with training, but we are also starting to focus on …
The joylessness of harried medical leaders
How sad when a PCP calls, saying, “My chief warned me that if I don’t dramatically improve my productivity, I’m going to be terminated.” Such doctors are often patient-centered listeners who cannot bear to shift from healer mode to assembly line mode.
Some of these docs learn how to better balance healing with task completion; others make a beeline for concierge or direct primary care practices; still others …
Why doctors are such bad investors and how real estate can help [PODCAST]
“How do we combat all these beliefs that can make doctors into bad investors? I have a few thoughts.
First of all, don’t panic. Most of us are indeed starting behind the eight-ball when it comes to wealth accumulation. But even with a shorter runway, physicians make enough money to make up for …
Why physician-owned businesses need our attention and support
Like most, our family decided that we had outgrown our current home a few years ago and wanted to move into a larger house that offered more square footage and land. It had been nearly twenty years since living in the house we have owned since the end of the residency, and the house-hunting effort seemed more bewildering and confusing than two decades ago. At the time, I was too …
Doctors beware: There’s a $400,000 target on your back
President Joe Biden recently signaled that a multi-trillion-dollar spending plan for our country should be paid for by the rich corporations and wealthy individual Americans who make over $400,000. Doctors fit the latter category and should tune in.
Beyond the government, the unique qualities of doctors make us a target for many who want to access our high income and our business revenue. Our passivity to these poachers places us at …
The sense of powerlessness and being a cog in a wheel is now at an all-time high
Toward the end of my clinical career, I didn’t feel like I had control over much at all. The patient safety issues loomed large. We used ridiculous workarounds for broken processes. The constant vigilance to provide excellent care in a suboptimal environment was exhausting. I didn’t see anything I could change. Based on my work with physicians as a coach, I think that the sense of powerlessness and being a …
365 shows later: The Podcast by KevinMD’s most popular episodes
It’s been such an inspiring journey for The Podcast by KevinMD! I started the show one year ago, on June 1, 2020. I didn’t know what to expect, who would want to be on the show, or who would listen. Heck, I didn’t know the first thing in starting a podcast.
I did know one thing: Thousands intersect with our health care …
Caring for caregivers post-pandemic
Health care systems in the United States are beginning to emerge from the devastation of the pandemic. Since the existential threat of COVID-19 first hit in March of 2020 and the waves kept rolling across the country, doctors, nurses, and other clinicians put themselves and their families at risk to save others.
Clinicians were thrown into situations for which neither they nor their institutions were prepared. Like combat, the pandemic created …
10 replaceable thoughts (and 15 books) to help you survive burnout
Physicians are leaving the broken medical system at unprecedented rates. We continue through a war with an uncertain liberation day, and we are exhausted. Meanwhile, the only battlefront in which we have control is that of our mind. We have not been taught how to tame this beast. If we hope to thrive in medicine, we need to “capture our thoughts” and redirect how these result in feelings, actions, and …
What medical students can learn from astronauts
Physicians are always looking for ways to improve patient outcomes. Although this goal has no real endpoint, physicians continue to strive incessantly to decrease morbidity and mortality for patients. Atul Gawande, a prominent surgeon and writer, has demonstrated the benefits of learning from other professions, such as adopting checklists from the aviation industry to utilize in medicine. The subsequent use of checklists in medicine had a surprisingly tremendous impact on …
A physicians discovers the power of mastermind groups
“My whole world has changed, but my workplace’s expectations haven’t. I am paying twice as much for childcare and caring for my children’s mental health needs on top of my normal job. This has been going on for a year, but expectations for my performance in the workplace haven’t changed.”.
“I was watching an old home movie of my son’s baptism with my seven-year-old when he turned to me in horror, …
5 tips to become a millionaire
1. Setting up automatic investments. The vast majority of young millionaires achieved their financial status by investing money. Unless they are a celebrity or were born into a wealthy family, they had to be diligent about investing money either in the stock market, a business venture, or real estate. You must do the same. One way to do this is by making your investments automatic. Have a certain amount of …
Why quitting medicine is hard
This is a message to any medical doctor who is unhappy with their career. The individual reasons for this dissatisfaction will vary. Whatever the issue, it is important to ask, “Is the problem correctable?” If yes, then you must act and secure your happiness. If no, you must consider other options. One uncomplicated choice is to stay in medicine and practice somewhere else. However, you may also be unhappy in …
The price I paid to be in medicine
A few weeks back, Match Day welcomed smiles and celebratory tears across the nation. This particular match season was fueled by a pandemic and virtual interviewing. I reached out to my friend who got matched to his top internal medicine residency spot in the Lone Star State.
“I’m ready to make some money,” he excitedly mentioned over our phone conversation. “No more filling in the blanks in FAFSA and piling additional …
Why residents should invest in a 403(b) and a Roth IRA
As a young professional who is trying to build wealth, I invest money. Although there is a myriad of different investment accounts and strategies, I invest in index mutual funds through my employer-sponsored retirement plan and my own Roth IRA. Yes, I have both types of accounts. Let me tell you why.
I invest in my employer-sponsored retirement plan (which is a 403(b), which is very similar to a 401(k) because:
1. …
