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Life After Residency Video Series
From Essential Seminars for Physicians, LLC, this video series incorporates modern business techniques into the issue of preparing for a career after completion of training. Learn valuable skills such as strategy planning, finance, and negotiation while discovering how to create a smooth transition to practice simultaneously. The video series is presented in convenient 20-30 minute segments and can be accessed at your convenience -- with password -- on computer and mobile platforms whenever and how often you desire.
Choosing Your Practice
What is the perfect practice setting for you? Do you know, have you even thought about it? Do you know how to go about answering this question? Making a major decision that will influence your life for years is an imposing task. We have found that any physician can use the same principals of strategic planning that large companies use to improve their decision making process. These principals are perfectly applicable to choosing your practice. Learn the techniques presented in this tutorial to get what you really want even if right now you aren’t so sure exactly what that is. You soon will!
You all need to know where your income comes from and the mechanics behind how physicians get paid, no matter if you are entering private practice, hospital employment, or an academic career. All physicians work hard for the income they have earned. Understanding the way in which the payment system works will allow you to insure that you receive everything that you have earned. After all, there will be no one in your organization more interested in your reimbursement and its fairness than you! Participation in this tutorial will put you in an ideal position not only to stay ahead of the seemingly continuously changing landscape but empower you to take control of the present.
Practice Settings and Employment Contracts
Most physicians choose their first job based on location and money. The turnover rate of these physicians is up to 40 percent within 3 years and the reasons are far from money or location. Learn to evaluate a practice for the important factors. Learn how to run an interview so that you receive all the decisional information. With the aid of the sample employment contract, learn to critically evaluate the financial aspects to assure what is promised will truly be delivered. Use the skills learned here to empower yourself and even the playing field.
Negotiation and Then What?
You will be the chief negotiator of your first employment contract. An attorney may look your deal over, but face it, you will be the one in the room. Learn how to prepare for any negotiation. Learn how to evaluate the practice as well as the health system you will be working with. Learn the techniques of sound and effective negotiating. Learn what needs to happen in your first year on the job in order to insure success and happiness.
Personal Finance for Physicians
Most physicians experience a significant increase in their income with the end of their residency training and entrance into their first job. What is poorly understood is the need for a personal financial strategy in place before they begin their first day. Taking 2 -3 years or longer until a finance strategy is in place can cost more than a million dollars and years added to retirement age. Not having a plan for replacement of income to protect against unforeseen disaster is irresponsible to yourself and your loved ones. Finance planning should begin today. This tutorial gives you the basics of what, when, how, by whom and how much. It will not make you a financial wizard; rather it will encourage and empower you with the knowledge needed to be an active participant in your own financial future.
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