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Preparing for an Interview
You wouldn't be visiting if you weren't clinically qualified. Your medical education speaks for itself, your resume caught their attention, you handled the phone interviews well and now its show time. Your interview suit fits just so and you now find yourself sitting across the desk from one of the practice partners. It's Love/Love and the doc is about to serve. Here are three tips that may decide the match in your favor.
-Don't underestimate the value of role playing. It may feel awkward and you may feel like a member of the grade school debate team. But a few hours across the desk from a colleague fielding likely questions is going to polish your presentation. As with most other things, the internet is a resource. Just Google interview questions and you will have all the test questions in advance. Practice does really make perfect!
-The first ten minutes of an interview can be stiff and formal. It's your job to break the ice and develop some rapport. Establish eye contact. Maintain a comfortable posture. Speak slowly with well placed pauses. Everyone likes to... Read More
Medical Match Physician Job Boards offer physician opportunities in 32 medical specialties. As part of the MD Preferred Network, Medical Match Job Boards are free to use and do not require a login or password. Visit Medical Match and begin searching for the opportunity of a lifetime. |
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Insurance 101:
Purchasing Life Insurance
Whether you're just graduating or have your own established practice, the main driver behind most physicians' purchase of life insurance is to ensure your loved ones are taken care of if you are no longer alive or, at the very least, to avoid being a financial burden on these loved ones at death.
The purchase of life insurance is typically for: (a) Income replacement -- if you are alive, you can earn a salary, and at time of death leave a lump sum of money that will earn a similar amount annually to replace that income; (b) Income creation - if you never quite got enough savings for you and your loved one to live comfortably for the duration of both of your lives, life insurance creates an additional sum for the survivor since you'll most likely spend down your savings together (nest egg renewal); and (c) Asset preservation -- this is estate planning, where you spend your whole life building up assets in the form of a practice or real estate and you do not want it to be dismantled or depleted at death by Uncle Sam.
Income Replacement:The concept is fairly straightforward. If you are not alive to earn income, there... Read More
PhysicianInsure is a national provider of insurance designed exclusively for physicians. For more information or for a confidential quote, please contact us at: info@physicianinsure.com or 877.962.8737. |
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Using Credit Wisely
Carol Friedhoff, Savvy Outcomes
 Whether you are still completing medical training, are a new physician opening a medical practice, or are an established physician involved in your practices management, understanding how to use credit and when to extend it will serve you well. Using credit, on a personal or professional level, for consumption is generally regarded as "bad debt." Using large amounts of credit to purchasing a sports car that will depreciate by 40% as you drive it out of the dealer's lot, will probably negatively affect your personal bottom line. On the other hand, a high income professional, in a high tax bracket, using credit to purchase a home is an excellent example of "good debt." Using credit to acquire an appreciating asset that the tax man treats with favor will almost always improve your personal or professional bottom line. If you find yourself with both good and bad debt, we generally advise our clients to pay down your bad debt as quickly as possible and extend the repayment of your good debt for as long as possible. For instance, after finishing medical school, you may have a significant amount of student loans which hopefully were consolidated into a single loan with a low fixed interest rate. Since this loan contributed to your professional standing and livelihood, the result was very valuable and productive. Don't rush to pay these loans back! You can often... Read More
Carol Friedhoff, based in Dublin, Ohio, is a fee-only financial planner and influential leader who has successfully managed many multi-million dollar endeavors. Carol is a member of NAPFA and an MD Preferred Financial Advisor. She has over 20 years of business experience with more than 15 years in financial services. Carol can be reached at:
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Total Compensation
Green and Chern, LLC
Total compensation factors in salary, benefits, bonuses and incentives and anything else of value guaranteed to you by your employment contract. While high starting salaries can be very attractive, a closer look often reveals that the position with the highest salary isn't the most financially beneficial at all. Ask questions about benefits and non-salary compensation, and make sure you understand the real value of what you're being offered-and the potential cost of not receiving certain benefits.
It's easy to assess the value of some benefits, such as insurance coverage. Others, however, are more nebulous-and that means potentially misleading. Deferred compensation may be difficult to assess; don't simply assume that you're getting something of value. Discuss such compensation with your attorney and, if necessary, with your accountant. Then make a clear, side-by-side comparison of your options.
M.D. Law Services is a service of the law firm Green and Chern, LLC. M.D. Law Services provides physicians with medical employment contract review and immigration assistance. Please visit M.D. Law Services or call 866.607.6090 |
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Relocating Your Practice
 With cities expanding and populations migrating, medical practices are being forced to relocate to larger facilities and more inhabited areas. Moving an entire medical practice can be a daunting task, even when the necessary precautions are taken. However, there are ways to help smooth out the move. Plan Early, Start Early - When a person moves from one home to another, most of the time they will rummage through their old possessions, either throwing away or donating unnecessary belongings. With a medical practice, there is always old technology lying around that may never be used again. Instead of moving the equipment, consider offering it to a medical education facility in your community. There are programs across the country that will assist you with any donations. Find a Relocation Specialist - Although some relocation experts deal mainly with moving someone from one home to another, there are many experts that are able to develop a comprehensive review of your current practice to ensure the best practices are introduced into your new clinic and that a business plan is prepared. This will ensure that that a minimal amount of modest issues will come up throughout the process and can be dealt with in a timely manner. An expert can also help you deal with lease negotiations and find the most efficient way to notify your patients. It always helps to seek the assistance of a professional, whether you are moving yourself, your family or your practice. With a growing demand for physicians and specialty practices, relocation is sure to become a major part of your career.
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Doctors Without Borders
 New York, December 21, 2009 - Civilians attacked, bombed, and cut off from aid in Pakistan, Somalia, Yemen, Sri Lanka, Afghanistan, and the Democratic Republic of Congo (DRC), along with stagnant funding for treating HIV/AIDS and ongoing neglect of other diseases, were among the worst emergencies in 2009, the international medical humanitarian organization Doctors Without Borders/Médecins Sans Frontières (MSF) reported today in its annual list of the "Top Ten" humanitarian crises. Continuing crises in north and south Sudan, along with the failure of the international community to finally combat childhood malnutrition were also included on this year's list. The list is drawn from MSF's operational activities in close to 70 countries, where the organization's medical teams witnessed some of the worst humanitarian conditions. Three distinct patterns dominated in 2009: Read More | |
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NAPFA registered, fee for service only financial advisors serving physicians and medical professionals
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Community based, independent insurance agents specializing in medical enterprise risk management |
Community based relocation experts with a national reach serving physicians and their families
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A national law center offering physician employment contract review and immigration assistance
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Visit Our Sponsor
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A Travel Site Powered by Orbitz, designed for physicians, with all fees donated to Doctors Without Borders |
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About The MD Preferred Network
Launched in May 2008, the MD Preferred Service Network brings together a diverse group of professional service providers in a single, easy to use online resource center. The MD Preferred Service Medallion identifies top tier professionals who maintain stringent service standards geared to the special needs of the medical community. | |
