On this episode we talk about social media with Dana Corriel MD, an internal medicine physician and creator of the SoMeDocs group. She recently left the practice of medicine to help physicians develop their online presence. Her goal is to help empower physicians reach their patients, a broader audience, and develop their brand and yet balance it with responsibilities as professionals, employees, etc. We talked about why she left medicine to pursue this opportunity.

Dr. Corriel runs master classes for physicians interested in improving or developing their presence. I am going to be a teacher in one of the upcoming courses (in Aug 2020) for those who want to start a podcast. If you are interested, here is the link.

Note this episode was recorded just prior to the Covid shutdowns in March 2020 and yet is timely because we just saw the power of physician social media this week when the journal of vascular surgery published and then retracted an article about social media posts of vascular surgery residents and fellows. That article was probably published to a very narrow audience, yet was able to be circulated widely because of twitter, facebook, instagram, etc. The article created a firestorm because of the techniques and judgements of its authors about the posts and calling pictures of female physicians in bathing suits potentially inappropriate but not the same of male physicians. Anyway there was a very quick and appropriate backlash which prompted retraction of the article and wide reassessment of gender biases in medicine in a way that traditional media could not have done.

Please support our sponsor Pearson Ravitz if you are in the market for disability insurance and especially if you are early in your career for the best rates.

Please visit our website at www.doctormoneymatters.com for the catalog of all our prior episodes.

Here is a link to the SoMeDocs website where you can find out more information about what Dr. Corriel is doing to help physicians with the sometimes confusing world of social media.

You can follow our show on:

Twitter @drmoneymatters

Facebook: Doctor Money Matters

Instagram @doctormoneymatters

I encourage healthcare professionals to join our private facebook group, Doctor Money Matters.

If you enjoyed this episode please leave us positive review on iTunes, Google Play, or Stitcher.

Any constructive criticism or topics for future shows can be directed to [email protected]

Please remember what you heard on this show is for your entertainment and education only. Please speak with the appropriate experts prior to making decisions regarding your own financial situation.

Thanks for listening and please leave us positive reviews and continue to share this podcast with your colleagues.

Welcome to the Doctor Money Matters Podcast. In this episode we talk with Gita Pensa MD, an emergency medicine physician and fellow podcaster who created an incredible podcast which is a must listen about lawsuits in medicine and the personal impact it had on her. Its a “Serial” type podcast which is extremely well done. I highly recommend it.

Note this episode was recorded just prior to the Covid shutdowns in March 2020.

Please support our sponsor Pearson Ravitz if you are in the market for disability insurance and especially if you are early in your career for the best rates.

In this episode we discuss why Dr. Pensa started the podcast.

We talk about the impact the lawsuit had on her and she talks about how she felt initially and how even years later it has an impact, not just how long these suits can drag out, and having to relive it over and over again.

We also talk about what physicians don’t know about if they are named in a malpractice lawsuit. We are never taught about how to feel if this happens. Residency programs and CME talks may discuss some of the legal issues, but they rarely address the personal impact on physicians.

The simple threat of a lawsuit makes most physicians uncomfortable and for those who have gone through depositions/trials it can scar you for a long time. We discuss how it can impact your non professional life in addition to your worklife. 

We also discuss the role of physician experts in the malpractice world. She calls some of them “Testeliars” on her podcast. These are doctors who make a career out of malpractice testimony.

Dr. Pensa suggests talks about her solutions to make it fair for all physicians.

Finally we talk about what her future plans are and what creating this podcast has done for her, how its allowed her to reach other physicians who have then connected with her about their experiences and how that has helped her find new purpose.

This is a jam packed episode.

Gita’s podcast is available on all the major outlets. Doctors and Litigation: The L Word 

Please visit our website at www.doctormoneymatters.com

You can follow our show on:

Twitter @drmoneymatters

Facebook: Doctor Money Matters

Instagram @doctormoneymatters

I encourage healthcare professionals to join our private facebook group, Doctor Money Matters.

If you enjoyed this episode please leave us positive review on iTunes, Google Play, or Stitcher.

Any constructive criticism or topics for future shows can be directed to [email protected]

Please remember what you heard on this show is for your entertainment and education only. Please speak with the appropriate experts prior to making decisions regarding your own financial situation.

Thanks for listening and please leave us positive reviews and continue to share this podcast with your colleagues.

Welcome to the Doctor Money Matters Podcast. In this episode we talk about student loans with Ben White, MD a radiologist and blogger who writes about various topics but has written a FREE book about student loans.

Note this episode was recorded pre covid so there have been some changes relating to loan deferrals so please check with your loan servicer prior to making any changes.

Please support our sponsor Pearson Ravitz if you are in the market for disability insurance and especially if you are early in your career for the best rates.

We talk about types of student loans (Federal direct and plus, private, etc.)

We talk loan strategies in relation to USPLF loan forgiveness program. He goes into good detail about how to time your payments including not paying during the first half of your intern year if going for forgiveness. Ben says you almost never want to refinance early in residency which can run counter to the advice you may have heard. In his opinion the forgiveness program may not go away despite the headlines you read.

Ben’s free student loan book is available at www.benwhite.com/studentloans/

Please visit our website at www.doctormoneymatters.com

You can follow our show on:

Twitter @drmoneymatters

Facebook: Doctor Money Matters

Instagram @doctormoneymatters

I encourage healthcare professionals to join our private facebook group, Doctor Money Matters.

If you enjoyed this episode please leave us positive review on iTunes, Google Play, or Stitcher.

Any constructive criticism or topics for future shows can be directed to [email protected]

Please remember what you heard on this show is for your entertainment and education only. Please speak with the appropriate experts prior to making decisions regarding your own financial situation.

Thanks for listening and please leave us positive reviews and continue to share this podcast with your colleagues.

Welcome to the Doctor Money Matters Podcast. It has certainly been an eventful spring between the Covid crisis and the national protests bringing more attention to the unequal treatment of African Americans by law enforcement, and also the financial market volatility.

Our guest was Joel Greenwald, MD a physician turned financial planner in Minnesota who has a long term financial planning business managing mostly physicians money called Greenwald wealth management.

We talk on this episode about the strategies of withdrawing assets once you retire. How do younger physicians get to the asset level we talk about? We also talk about the pros and cons of annuities. He doesn't recommend them for the asset accumulation phase but they can make sense in retirement and we talk about examples of annuities. He does not use them frequently and talks about the conflict of interests that some advisors have. 

We also talk about the bucket strategy and withdrawal from different types of accounts (tax free, tax deferred, taxable)

Joel thinks that for most physicians working now, social security will still exist and you can get some income from that. However its going to be variable and should not be a significant part of your retirement strategy.

We also discuss alternate strategies of withdrawal for FIRE and each talk about our thoughts on the 4% rule.

Finally we talk about real estate investing and whether Dr. Greenwald’s clients are investing in it. I mentioned that social media is the new golf course/doctors lounge where some ideas that are pitched are not fully vetted and we should be somewhat skeptical about them.

Click here for more info on Greenwald Wealth Management

Please support our sponsor Pearson Ravitz if you are in the market for disability insurance and especially if you are nearing the end of residency/fellowship where you may still qualify for discounts that may not be available after training.

Please visit our website at www.doctormoneymatters.com

You can follow our show on:

Twitter @drmoneymatters

Facebook: Doctor Money Matters

Instagram @doctormoneymatters

I encourage healthcare professionals to join our private facebook group, Doctor Money Matters.

If you enjoyed this episode please leave us positive review on iTunes, Google Play, or Stitcher.

Any constructive criticism or topics for future shows can be directed to [email protected]

Please remember what you heard on this show is for your entertainment and education only. Please speak with the appropriate experts prior to making decisions regarding your own financial situation.

Thanks for listening and please leave us positive reviews and continue to share this podcast with your colleagues.

Welcome to the Doctor Money Matters Podcast. This is a podcast about financial topics related to the healthcare professional. I am your host Dr. Tarang Patel, a diagnostic radiologist in Arizona.

Our guest was Cory Fawcett, MD a retired surgeon in Oregon who has written books for medical professionals including The Physicians guide to Real Estate Investing which we talked about on the show. It and his other books are available on Amazon or his own website FinancialSuccessMD.com

We talk on this episode about the power of real estate investing. Why Dr. Fawcett favors active real estate investing (ownership) instead of participating in syndications. 

We also talk net worth numbers which may surprise many of my listeners. While he was a general surgeon in private practice, Dr. Fawcett had a lower income than many might think and yet through the power of compounding, tax deferment, and debt aversion, he built up quite a net worth that was greater than his combined income from all his work years when he retired.

Please visit our website at www.doctormoneymatters.com

You can follow our show on:

Twitter @drmoneymatters

Facebook: Doctor Money Matters

Instagram @doctormoneymatters

I encourage healthcare professionals to join our private facebook group, Doctor Money Matters.

Any constructive criticism or topics for future shows can be directed to [email protected]

Please remember what you heard on this show is for your entertainment and education only. Please speak with the appropriate experts prior to making decisions regarding your own financial situation.

Thanks for listening and please leave us positive reviews and continue to share this podcast with your colleagues.

This is a special episode of the podcast in which I am introducing a new project I am working on with Dr. Disha of the Frugal Physician. We are starting a YouTube series called What’s Up Docs? to talk about what's trending in physician social media. 

In this episode we discuss:

• a proposed residency for nurse practitioners and physician assistants in emergency medicine that had physicians in an uproar, particularly because they were going to be paid more than PGY3 EM residents. This program is not going to happen, but boy did it get everyone talking. This came from a thread on Reddit.
• We talk about the Berkshire Hathaway letter.
• We talk about the change of the USMLE to a pass fail exam.
• A surgeon who was shot and killed and the threat of violence upon healthcare workers.
• Whether we should pay down mortgages or invest.

Thanks for listening. To see the video, please check it out and subscribe on YouTube. 

Finally please join me and Stephanie Tsang, CFP on March 9 for our free college financial planning webinar. Sign up here or on the Doctor Money Matters Facebook group or message me on Twitter or Facebook or send me an email at [email protected]

Dr. Karen Sibert, an anesthesiologist in California, wrote an article that went viral last week and this weekend as a response to the repeated attacks on physicians by the media and by economists or other "policy experts". The Washington Post said physicians were behaving like muggers. A Noble prize winning economist called us rent seekers.

We discuss why she wrote this article. Why she sees concerning trends about the future physician workforce and areas where things are improving though not perfect yet.

If you have not yet read her article. Here is a link to her website apennedpoint.com

On this episode we talk with Ian Ippolito who runs a real estate crowd funding website which is a valuable resource for those who are interested in this space.

We talk about Ian's approach to real estate investing.

• Evaluate sponsor first (experience through a full business cycle)
• • Lots of sponsors right now have not gone through a downturn
• Look at the deal itself
• • Leverage (65% leverage or less)
  • Sponsor has invested also (skin in the game)
  • What is the deal structure (how does sponsor make money)?
  • Locked in long term debt (at low rates)
• Different types of niches in crowdfunded real estate (land, farms, self storage, mobile homes, hotels)

We talk about the difference between public crowdfunding deals vs private network deals.

Finally we discuss where Ian thinks we are in the cycle (physical and financial and he explains the difference between the two)

His blog is at the therealestatecrowdfundingreview.com and is full of useful information you should look at prior to investing with one of the crowd funded companies.

More episodes of this podcast are available at www.doctormoneymatters.com and Apple Podcasts, Google Play, Stitcher, etc. All episodes are also now on YouTube  and Facebook. 

You can follow me on twitter @drmoneymatters

Instagram @doctormoneymatters

Please consider joining the Doctor Money Matters Facebook group.

Thanks for listening and please leave us positive reviews and continue to share this podcast with your colleagues.

On this episode we talk with Dr. Falgun Chokshi, a radiologist and thought leader in artificial intelligence. 

We talk about the role of AI in the future of medicine. 

• Will AI replace radiologists? 
• Will there be fewer jobs for physicians in the future? 
• What are the capabilities of AI and where does it fall short? 
• We also talk about why the stakes are so high in medicine vs other fields and why the pace of innovation is slower in patient care. 
• What are the stakes for new and recent grads in medicine?
• Who is going to be liable for any potential malpractice?

More episodes of this podcast are available at www.doctormoneymatters.com and Apple Podcasts, Google Play, Stitcher, etc. All episodes are also now on YouTube  and Facebook. 

You can learn more about Dr. Chokshi at his website falgunchokshi.com

You can follow me on twitter @drmoneymatters

Or Instagram @doctormoneymatters

Please consider joining the Doctor Money Matters Facebook group.

Thanks for listening and please leave us positive reviews and continue to share this podcast with your colleagues.

On this episode, my guest is Dan Gauthier of the Rose Law Group in Scottsdale, AZ. We are talking about Opportunity Zones. We discuss what they are, how they can be a tax advantage investment. 

Dan has written about these previously in national media and I thought he would be a great resource to learn more about them. He is not selling anything which is why I wanted him to explain it in an unbiased way.

Opportunity Zones are geographic areas designated by the states and approved by the federal government which qualify for specific tax breaks that we discuss on the show. Investments can be in real estate or qualifying businesses. 

The tax breaks are 3 fold:

1. Defer realized capital gains.
2. Reduction of existing capital gains by up to 15% if opportunity zone investment held for 7 years.
3. No tax on future capital gains if opportunity zone investments if held for 10 years.

As we discuss, these benefits can make a good deal better but do not make bad deals good, so please really vet the deals that are being presented.

Remember this show is for educational purposes only. Please do your own due diligence prior to investing in any deal.

A link to the WSJ article mentioned at the beginning of the show.

Wall Street Journal--Opportunity Zones off to slow start

Contact info for Daniel Gauthier

More episodes of this podcast are available at www.doctormoneymatters.com and Apple Podcasts, Google Play, Stitcher, etc. All episodes are also now on YouTube (Audio only) and Facebook. 

You can follow me on:

twitter @drmoneymatters 

Instagram @doctormoneymatters

Facebook @doctormoneymatters

Email me [email protected]

Please consider joining the Doctor Money Matters Facebook group.

Please share this podcast with your colleagues and join our email list.

Thanks for listening and please leave us positive reviews on Apple Podcasts and continue to share this podcast with your colleagues.

On this episode, my guest is Amy Mecozzi Cho MD, an emergency medicine physician in MN who is passionate about making sure physicians voices are heard, particularly on the issue that is all over the news lately, Surprise (Balance) Billing. This is when the medical group providing the care charges the patient the balance between their fees and the (low) rates the insurance companies will pay. Obviously this is an unfortunate position for patients to be put in and physicians end up taking the financial and perception hits.

As an emergency physician she is required to take care of anyone who comes into the emergency department by law, physician oath and ethics, regardless of ability to pay. However insurance companies do not have to follow the same rules and can refuse to negotiate adequate reimbursement because they know physicians are bound by these laws. It’s obviously an uneven playing field. These entities have also had the ear of lawmakers and are pushing solutions to Congress that would negatively impact us. We as physicians are generally too busy to fight this, but if we don’t the results will be a disaster for those involved in patient care. I encourage you to contact your congressional representative and senators and make your voice heard on this issue. The current solution in the Senate is the Benchmark solution and would lead us to the race to bottom described by Dr. Cho on the show. The New York (Independent Arbitration) solution is the one that we need to advocate for. It’s the only real way to reach fair outcomes. The fact that insurance companies are advocating for the benchmark solution should tell you as physicians how it will be for you.

https://www.house.gov/representatives/find-your-representative 

Here is an article that goes over the solutions in more detail: https://www.healthaffairs.org/do/10.1377/hblog20190708.627390/full/

More episodes of this podcast are available at www.doctormoneymatters.com and Apple Podcasts, Google Play, Stitcher, etc. All episodes are also now on YouTube (Audio only) and Facebook. 

You can follow me on:

twitter @drmoneymatters 

Instagram @doctormoneymatters

Facebook @doctormoneymatters

Email me [email protected]

Please consider joining the Doctor Money Matters Facebook group.

Please share this podcast with your colleagues and join our email list.

Thanks for listening and please leave us positive reviews on Apple Podcasts and continue to share this podcast with your colleagues.